Mylan to rebrand Matrix Labs and launch Rx products in India

US generics major Mylan (Nasdaq: MYL) says that it plans to rebrand its Hyderabad, India-based subsidiary Matrix Laboratories, a leading supplier of active pharmaceutical ingredients (API) in which it bought a more that 71% stake in 2007 for some $736 million, as Mylan, and aims to bring its own products to the Indian market.

Since then, Mylan says it has successfully integrated the two organizations, along with the generics business of Merck KGaA, which it bought the same year for $6.7 billion, to build a global, high-quality pharmaceutical platform with $5.5 billion in 2010 revenues, a workforce of more than 17,000 employees, and commercial sales in more than 150 countries and territories. Since Mylan's acquisition, Matrix's workforce has grown from around 3,800 employees to more than 8,500 today.

Drugs expected on Indian market within 12 months