Mylan Laboratories INC.

Essay by srdjan83University, Bachelor's August 2005

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Pharmaceutical industry is a high money-making industry. It has historically been one of the nation's most profitable industries not only in USA, but all around the world. But in the US industry everything isn't exactly "coming up roses". Those huge gains of the industry were acquired on the expense of consumers. Also one of the main objections on the pharmaceutical industry is that competitive forces do not operate well in the pharmaceutical market, therefore allowing companies to charge excessive prices. Of course pharmaceutical industry has expensive inputs - research, promotion, free trials, personal selling, and development; however that alone isn't a good excuse for such high prices. Pharmaceutical industry's demand is highly inelastic because it is going to stay the same no matter how high the prices are-people are always be willing to give money in return for their health. Also, almost all pharmaceutical companies are using high level of differentiation because they want to build a brand name for themselves, and also they want to be perceived differently from the rest.

In addition, the future expectations are benefiting all companies present in this industry because there is always going to be a need for medical products all around the world.


Mylan Laboratories Inc. is a leading pharmaceutical company specializing in the development, manufacture and marketing of generic and branded pharmaceutical products. When Mylan Pharmaceuticals was founded in 1961, its mission was simple: to help make quality medicines more affordable for patients who need them. That mission has not changed. Today, Mylan is a leader in the generic pharmaceutical industry. Its products are recognized to be of the highest quality. Mylan markets its extensive line of generic products through three business units: Mylan Pharmaceuticals Inc., Mylan Technologies Inc. and UDL Laboratories, Inc. The generic...