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RESEARCH TRIANGLE PARK - Just weeks after hiring a sales veteran to head its Research Triangle Park-based branded pharmaceuticals unit, Mylan Laboratories is targeting regulatory approval of a drug that analysts estimate could add millions to the company's bottom line.
Also, in an effort to better market the Mylan name, the company has renamed its RTP-based Bertek Pharmaceuticals unit, which sells branded drugs, as Mylan Bertek Pharmaceuticals.
Analysts say the moves suggest the company is placing an increasing focus on Mylan Bertek Pharmaceuticals, which has doubled revenue in the past two years. In 2003, sales from the unit generated $278.48 million compared to $132 million in 2002. Operating income rose to $46.52 million in 2003 compared to an operating loss of $16.21 million in 2002.
About 20 percent of Mylan's more than $1 billion in sales comes from the branded unit, with the rest generated by generic drugs. The company has signaled it wants the branded operation...