Navigation Links
Moody's Upgrades Mylan
Date:5/23/2012

PITTSBURGH, May 23, 2012 /PRNewswire/ -- Mylan Inc. (Nasdaq: MYL) today reported that Moody's Investors Service ("Moody's") has upgraded the company's credit ratings, including the "Corporate Family Rating," to Ba1 from Ba2. Following this action, Moody's rating outlook is stable. 

According to Moody's: "Mylan's Ba1 Corporate Family Rating reflects the company's strong position in the global generic pharmaceutical industry, its strong geographic diversification and its robust generic pipeline capabilities... Moody's believes 2012 will be a double digit growth year for Mylan, supported by a high number of branded drugs going generic and continued strength in the EpiPen® auto-injector franchise. Beyond 2012, Mylan's increasing operating leverage as a result of improving product mix and vertical integration should translate into higher EBITDA growth and stronger free cash flow."

Mylan's Chief Financial Officer John Sheehan commented: "We are pleased that Moody's has again recognized Mylan's significant capital structure achievements of the past two years, as a result of which Mylan today has a level future debt maturity schedule, a leverage ratio below 3.0 times, and ample liquidity to help fuel future growth. In its third upgrade of Mylan since 2010, Moody's has recognized many of Mylan's core strengths, such as our geographic diversification, the breadth of our product portfolio, our strong reputation for high product quality, and our leading position within the generics industry. Importantly, Moody's also has recognized Mylan's potential for continued strong top and bottom-line growth."

This press release includes statements that constitute "forward-looking statements," including with regard to the company's anticipated growth. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Because such statements inherently involve risks and uncertainties, actual future results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to: the impacts of competition; changes in economic and financial conditions of the company's business; uncertainties and matters beyond the control of management; and the other risks detailed in the company's filings with the Securities and Exchange Commission.  The company undertakes no obligation to update these statements for revisions or changes after the date of this release.

Mylan is a global pharmaceutical company committed to setting new standards in health care. Working together around the world to provide 7 billion people access to high quality medicine, we innovate to satisfy unmet needs; make reliability and service a habit, do what's right, not what's easy and impact the future through passionate global leadership. We offer a growing portfolio of more than 1,100 generic pharmaceuticals and several brand medications. In addition, we offer a wide range of antiretroviral therapies, upon which approximately one-third of HIV/AIDS patients in developing countries depend. We also operate one of the largest active pharmaceutical ingredient manufacturers and currently market products in approximately 150 countries and territories. Our workforce of more than 18,000 people is dedicated to improving the customer experience and increasing pharmaceutical access to consumers around the world. But don't take our word for it. See for yourself. See inside. mylan.com

 


'/>"/>
SOURCE Mylan Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related biology technology :

1. HIPAA 5010 Ready: DST Health Solutions Launches Upgrades of Amisys Advance, PowerMHS, PowerMHC and PowerSTEPP
2. Mylan Confirms First-to-File Patent Challenge Relating to Lescol(R)
3. Mylan Reports Adjusted Diluted EPS of $0.23 for the Quarter Ended Sept. 30, 2008
4. Cephalon and Eurand File Patent Infringement Lawsuit Against Mylan Pharmaceuticals and Barr Pharmaceuticals
5. Shire Receives FOSRENOL Paragraph IV Notice Letters from Barr Laboratories and Mylan
6. Mylan Reports Adjusted Diluted EPS of $0.26 for the Quarter Ended Dec. 31, 2008, and Adjusted Diluted EPS of $0.80 for the Year Ended Dec. 31, 2008
7. Shire Files Lawsuit Against Mylan for Infringement of FOSRENOL(R) (Lanthanum Carbonate) Patent
8. Mylan Confirms Four First-to-File Challenges
9. Mylans Matrix Receives First Tentative FDA Approval Under PEPFAR for Generic Truvada(R)
10. Mylans Matrix Selected by the Clinton HIV/AIDS Initiative and UNITAID as the Primary Supplier of Five Second-Line and Seven Pediatric HIV/AIDS Treatments
11. Mylan Receives Tentative FDA Approval for Generic Version of Singulair(R)
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:8/12/2020)... , ... August 11, 2020 ... ... biopharmaceutical cold chain validation engineering firm, is making available for free its ... need to incorporate concurrent transport simulation testing into today’s biologics licensing application ...
(Date:8/7/2020)... THE WOODLANDS, Texas (PRWEB) , ... August 06, ... ... gene therapy and DNA vaccine industries, announces it has closed on the purchase ... Deison Technology Park in Conroe, TX and includes over 21 acres in the ...
(Date:8/3/2020)... ... August 03, 2020 , ... Introducing Ardent Animal Health ... growth, , Known as MediVet Biologics since its formation in ... The new Ardent Animal Health will build on its base of innovative therapies ...
(Date:7/31/2020)... ... July 29, 2020 , ... G-CON ... of its new tagline, “BUILDING FOR LIFE.” The adoption of this taglines comes ... globe, requiring fast track capacity to provide patients with urgently needed vaccines and ...
Breaking Biology Technology:
(Date:6/28/2020)... ... June 25, 2020 , ... Genedata, ... that it has entered into a multi-year contract with Merus N.V., a ... translational and clinical research strategy to discover and develop ground-breaking drugs. The ...
(Date:6/23/2020)... ... June 23, 2020 , ... Kemp ... announced that the company has received ISO9001:2015 certification for the development and ... industries. The decision to pursue ISO9001 accreditation demonstrates Kemp’s commitment to a ...
(Date:6/23/2020)... ... June 23, 2020 , ... Rigaku Corporation , a ... in a series of TOPIQ webinars, which will cover the Transferable Aspherical Atom ... in response to social distancing measures that resulted in postponements and cancelations of ...
Breaking Biology News(10 mins):