Mylan's New Focus

For most of the 1990s, Mylan Laboratories was the dominant US generics manufacturer both in terms of financial performance and creative competitive strategies. But it seems to have lost its way a bit and is struggling to regain its competitive edge in an industry that no longer reflects the world it grew up in. Revenues grew a sluggish 7% to $846 million in 2001, in part because efforts to diversify into proprietary drugs haven't met goals. In June, two top executives left, both of whom had been there only a short time.

For much of the 1990s, Mylan Laboratories Inc. was the dominant US generics manufacturer both in terms of financial performance and creative competitive strategies. Emerging unscathed from the generics scandals of the late 1980s, it used a combination of old- and new-style tactics to maintain its position and keep fierce competitors at bay. In some areas it led the industry, with its state-of the art, efficient manufacturing capabilities—by far the best in the industry—and its intent to use a broad product line to establish solid relationships with an ever shrinking pool of buyers. Earlier than most, it took steps to diversify and build a brand-name business to counter the cyclical nature of generics.

But Mylan is now struggling to regain its competitive edge in a changed world. Revenues grew a sluggish 7.2%, to...

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