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Mylan Reports Adjusted Diluted EPS of $0.45 for the Quarter, a 36% Increase over Prior Year Quarter; and $1.61 for the Year, a 24% Increase over Prior Year
Date:2/24/2011

xpect to leverage the assets we have put in place to continue to deliver not only strong bottom-line performance, but also significant top-line expansion.  As a result, we remain fully committed to our targeted CAGR of 15% in revenues and 20% in EPS through the next three years, with a targeted EPS of $2.75 in 2013."

Heather Bresch, Mylan's President added: "We are as excited about the next phase of our growth as we have been about the accomplishments of the last several years.  We have built up the largest product pipeline in our history and combined it with a powerful commercial platform.  We anticipate continued significant global product launches, further dosage and therapeutic category expansion, and a significant increase in the number of new products we manufacture internally, all of which are expected to contribute to our accelerated revenue growth.  Further, we are focused on the successful execution of important strategic and business development opportunities to ensure we remain well positioned in the years ahead."  

John Sheehan, Mylan's Chief Financial Officer said: "In addition to our financial accomplishments over the last three years, we made significant progress in de-levering our balance sheet through strong earnings growth and cash flow generation and we converted our preferred stock at the minimum ratio.  These enhancements to our capital structure have pushed out the maturity profile of our debt, eliminated our preferred dividend requirement and, most importantly, left us very well-positioned to support the Company's powerful growth trajectory."  

Mr. Sheehan added:  "Additionally, we are pleased to present our financial guidance for 2011, which includes adjusted diluted earnings per share of between $1.90 and $2.10.  At the midpoint, this represents a growth rate of approximately 24% over 2010. We expect that our guidance for 2011, along with our long-term targets, will be achie
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SOURCE Mylan Inc.
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