Mylan Laboratories Considers $30 Million Expansion at Vermont Plant

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Researched by Industrialinfo.com (Industrial Information Resources, Incorporated; Houston, Texas). Mylan Laboratories, Incorporated (NYSE: MYL) (Pittsburgh, PA) is considering plans for a major $30 million expansion of its St Albans, Vermont wound care products and transdermal (skin patch) drug delivery systems manufacturing plant. While the project is still in its infancy, Mylan Laboratories, Incorporated is in talks with the state of Vermont about tax credits for the expansion and is waiting for FDA (Food and Drug Administration) approvals of at least three new products.

If the new products are approved by the FDA, Mylan Laboratories, Incorporated will expand the existing plant by an undetermined amount of square footage and install new manufacturing lines. Once the FDA approves the new products, planning for the expansion can move forward into the design stage. In addition to the dollars the project will bring to St Albans, approximately 200 new jobs are expected to be created in the next five years.

Mylan Laboratories, Incorporated is hopeful that product approvals will come in late 2003 or early 2004. Current plans call for construction to begin in mid-2004 and for the expansion project to be completed in late-2005.

Mylan Laboratories, Incorporated, founded in 1961, is a leader in the generic pharmaceutical industry. Mylan Laboratories, Incorporated produces a variety of drugs, drug delivery systems, and unit dose pharmaceuticals and operates one plant in Illinois, two plants in North Carolina, one plant in West Virginia and one plant in Vermont.