Mylan seeks buyer for 500-employee Dey site in Napa
San Francisco Business Times
Generic drug maker Mylan Inc. said it will move commercial operations, R&D, manufacturing and administrative jobs from its 500-employee Dey LP facility in Napa and sell the site.
After reviewing “strategic alternatives” for Dey, the branded specialty pharmaceutical subsidiary of the Pittsburgh-based company, Mylan said it will retain Dey, which it bought last year as part of its purchase of Merck KGaA’s generics business. However, Mylan said it will move commercial operations from Napa to the East Coast, shift manufacturing operations out of Napa, cut research and development jobs at Dey and move those jobs to other Mylan locations, and reassign all general and administrative functions from Napa to the business areas they support.
“These activities will position us to divest Dey’s Napa facilities over the next two years,” said Mylan Vice Chairman and CEO Robert Coury. “We are hopeful that we can find a buyer who may be able to maintain employment there.”
Not all of the jobs at the facility will be moved to the undisclosed East Coast location.
Dey’s focus has been nebulized respiratory treatments for severe allergy. It won approval from the FDA last year for Perforomist, a twice-daily treatment for emphysema and chronic bronchitis patients.
Mylan did not say how much the moves will cost the company.
In February, Mylan said it would try to sell Dey, and it took more day-to-day control of Dey operations. In January, Mylan appointed Carolyn Myers as president.
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