Mylan Laboratories Inc. (NYSE: MYL) today announced the promotion of Carolyn Myers, Ph.D., to the position of President of Mylan Technologies Inc. (MTI), the company's subsidiary that develops, manufactures and distributes transdermal drug delivery systems and related technologies.
Dr. Myers has spent more than 16 years in both domestic and international pharmaceutical brand management and has led a number of product launches in primary care and specialty markets. She joined Mylan in 2003 as Vice President of Branded Business Development and Strategic Marketing. In this role, Dr. Myers led the successful execution of multiple projects including the strategic alliance for the outlicensing of nebivolol. Dr. Myers earned a Ph.D. in molecular genetics from the University of British Columbia and an MBA from Rutgers, The State University of New Jersey.
Sharad Govil, Ph.D., Vice President of Mylan Laboratories, who had been serving as President of MTI will be expanding his responsibilities at the holding company.
Robert J. Coury, Mylan's Vice Chairman and Chief Executive Officer, stated, "Carolyn Myers is an extremely talented executive and is well positioned to lead our strategic initiatives for Mylan Technologies going forward. Mylan has already benefited significantly from her scientific background, deep branded and generic industry experience, leadership and vision. We view Mylan Technologies as a key asset that will play an integral part of our growth strategy going forward, and Carolyn will lead our efforts to fully maximize strategic alliances and other potential opportunities for MTI."
Dr. Myers commented, "Since joining Mylan in 2003, I have had the opportunity to lead multiple successful branded and generic initiatives including strategic alliances and other opportunities that have played a role in establishing Mylan Technologies as a leading force in the transdermal market. We believe there are significant unmet medical needs in multiple therapeutic categories that transdermal technology can address, and MTI is uniquely positioned to address these needs based on its industry-leading capabilities and proven track record of success. I am very excited to lead MTI in the pursuit of continued innovation and success in the rapidly growing transdermal market."
Mylan Laboratories Inc. is a leading pharmaceutical company with three principal subsidiaries, Mylan Pharmaceuticals Inc., Mylan Technologies Inc. and UDL Laboratories Inc. Mylan develops, licenses, manufactures, markets and distributes an extensive line of generic and proprietary products. For more information about Mylan, visit http://www.mylan.com.
This press release includes statements that constitute "forward-looking statements," including with regard to anticipated continued success, growth and strategic opportunities for MTI. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Because such statements inherently involve risks and uncertainties, actual future results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to: uncertainties regarding market acceptance of, and demand for, products; unexpected regulatory or other delays; the effects of vigorous competition on commercial acceptance of products and their pricing; the inability to reach mutually agreeable contract terms with potential strategic partners; and the other risks detailed in the Company's periodic filings with the Securities and Exchange Commission. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release.