Mylan (NASDAQ:MYL) is about to widen its slate of offerings in India. The company announced that its subsidiary in the country, Mylan Pharmaceuticals Private Limited, has been tapped to be the exclusive local branded medicines partner for Gilead Sciences (NASDAQ:GILD). The terms of the deal were not made public.
The agreement allows Mylan to market and distribute Gilead's HIV treatments Truvada and Stribild, fungal infection drug AmBisome, and Viread, which is used in both the treatment of chronic hepatitis B and as an HIV therapy.
The two companies are already partners -- since 2006, Mylan has had the right to produce and sell generic versions of Gilead's HIV treatments in India and other countries.
The agreement is a move away from Mylan's emphasis on generic products. Although the company has done well selling such goods, the value of branded drugs losing patent protection, and thus entering the generic realm, dropped by around $25 billion to hit $30 billion in 2013.
Eric Volkman has no position in any stocks mentioned. The Motley Fool recommends Gilead Sciences. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.