Mylan NV : Featured Company News - Mylan Launches Avonza(TM) in India
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LONDON, UK / ACCESSWIRE / August 10, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Mylan N.V. (NASDAQ: MYL), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=MYL. Mylan Pharmaceuticals Private Limited, a subsidiary of Mylan N.V., received on August 08, 2017, marketing authorization from the Drug Controller General of India (DCGI) for marketing its antiretroviral (ARV) drug Avonza? (TLE400) in India. For immediate access to our complimentary reports, including today's coverage, register for free now at:
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Avonza? is a fixed-dose combination containing Efavirenz, Lamivudine, and Tenofovir Disoproxil Fumarate Tablets, 400mg/300mg/300mg, respectively. The World Health Organization (WHO) has recommended Avonza? as an alternative first-line regimen for people being treated for HIV/AIDS.
Mylan Aims Greater Access to High-Quality ARVs in India
Rajiv Malik, President at Mylan, shared his views about the launch. He mentioned that developing Avonza? and getting it to HIV patients in India aligns with Mylan's strong and sustained commitment to expanding access to affordable, high-quality ARVs. An important thing to note is that Avonza? will be available to patients at a cost less than that of other current first-line ARVs in the country. In fact, Mylan is the first Company to launch this combination in India. This is an instance of how the innovative spirit runs throughout the Company to adapt its medicines, increase access and improve treatment outcomes, according to Mr. Malik.
The Extent of HIV/AIDS Epidemic in India
It is believed that India has the third largest HIV epidemic in the world. According to UNAIDS gap report 2016, HIV prevalence in India was estimated at 0.26%. Although this is a small percentage, due to India's huge population, the number equates around 2.1 million people. In fact, in 2015 nearly 68,000 people died of AIDS-related illnesses in India. Some key facts about the prevalence of HIV in India are:
- Of the total 2.1 million people affected by HIV, 6.5% are children under the age of 15;
- Manipur showed the highest estimated adult HIV prevalence (i.e. 1.15%) among all States/ Union Territories; followed by Mizoram (0.80%), Nagaland (0.78%), Andhra Pradesh and Telangana (0.66%), Karnataka (0.45%), Gujarat (0.42%), and Goa (0.40%).
India's Test and Treat Policy for HIV
The Health Ministry of India introduced the Test and Treat Policy for HIV in April 2017. Under the policy, anyone who tests positive for HIV will get an antiretroviral therapy irrespective of CD4 count or clinical stage.
Moreover, through the launch of Avonza?, Mylan is trying to help the country achieve its Sustainable Development Goal of ending AIDS by 2030.
Mylan's ARV Portfolio
Currently, Mylan is supplying life-saving ARVs to approximately 50% of patients being treated for HIV/AIDS in over 100 developing countries. The Company has a comprehensive ARV portfolio, which includes 14 active pharmaceutical ingredients and 50 finished dosage forms in first-line, second-line, and pediatric formulations.
Mylan is a global pharmaceutical Company, which is committed to setting new standards in healthcare. Currently, it is providing over 7 billion people access to high-quality medicine globally. It has a growing portfolio of more than 7,500-marketed products around the world, including antiretroviral therapies on which approximately 50% of people being treated for HIV/AIDS in the developing world depend. With its strong workforce of 35,000 people, the Company markets its products in over 165 countries and territories. It is also one of the world's largest producers of active pharmaceutical ingredients.
Last Close Stock Review
At the close of trading session on Wednesday, August 09, 2017, Mylan's stock price slightly rose 0.91% to end the day at $32.08. A total volume of 32.02 million shares were exchanged during the session, which was above the 3-month average volume of 5.54 million shares. The Company's shares are trading at a PE ratio of 31.95. At Wednesday's closing price, the stock's net capitalization stands at $18.12 billion.
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