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Mylan Reports Adjusted Diluted EPS of $0.23 for the Quarter Ended Sept. 30, 2008
Date:10/30/2008

ths ended Sept. 30, 2008, compared to $80.0 million for the same prior year period, representing an increase of $10.3 million or 13%. This increase is primarily the result of Matrix's finished dosage form ("FDF") antiretroviral franchise, which was launched in late calendar year 2007.

For Specialty, total revenues for the three months ended Sept. 30, 2008, were $130.6 million of which $125.4 million represented sales to third parties. Specialty consists of the Dey business, which focuses on the development, manufacturing and marketing of specialty pharmaceuticals in the respiratory and severe allergy markets.

Gross profit for the three months ended Sept. 30, 2008, excluding the impact of Bystolic, was $456.1 million and gross margins were 38%. Gross margins were negatively impacted by certain purchase accounting items recorded during the current quarter of approximately $105.4 million, which consisted primarily of amortization related to purchased intangible assets and the amortization of the inventory step-up associated with the acquisition of the former Merck Generics business. Excluding such items, gross margins would have been 46.7% Gross margins in the same prior year period, also adjusted to exclude certain purchase accounting items, would have been 49.1%. The decrease on a year over year basis is due to the fact that, on average, the newly acquired entities, particularly in countries outside of the United States, contribute margins that are lower than those realized by Mylan's domestic subsidiaries.

The company reported earnings from operations of $560.8 million for the three months ended Sept. 30, 2008. Excluding the purchase accounting items and Bystolic revenues as discussed above, earnings from operations would have been $211.2 million.

For the quarter ended Sept. 30, 2007, Mylan reported earnings from operations of $91.9 million. Excluding certain purchase accounting items in the prior year, earnings from operations would have
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SOURCE Mylan Inc.
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