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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

bution from Bioniche Pharma, which was acquired in September 2010.  

Third party net sales from EMEA were $397.0 million for the quarter ended December 31, 2010, compared to $476.6 million for the comparable prior year quarter, a decrease of $79.6 million, or 16.7%. However, translating current quarter third party net revenues from EMEA at prior year exchange rates would have resulted in a year-over-year decrease excluding the effect of foreign currency of approximately $48 million, or 10%. This decrease was mainly the result of unfavorable pricing in many of the European markets in which Mylan operates and the lack of a significant product launch, partially offset by another strong quarter of performance in Italy.

Sales in Asia Pacific are derived from Mylan's operations in India, Australia, Japan and New Zealand. Asia Pacific third party net sales were $305.1 million for the quarter ended December 31, 2010, compared to $269.2 million for the comparable prior year quarter, an increase of $36.0 million, or 13.4%. Foreign currency translation had a positive impact on sales for the current quarter, reflecting the strengthening of certain regional currencies against the U.S. Dollar. Excluding the effect of foreign currency, calculated as described above, the increase was approximately $18 million, or 7%. This increase is primarily driven by increased sales of anti-retroviral finished dosage products and higher sales of active pharmaceutical ingredients (API) by Mylan's subsidiary in India.

For the current quarter, Specialty reported third party net sales of $75.0 million, an increase of $18.6 million, or 33%, from the comparable prior year period of $56.3 million. The most significant contributor to Specialty Segment revenues continues to be the EpiPen® Auto-Injector.  In the current quarter, Specialty realized increased sales of the EpiPen Auto-Injector, mainly as a result of favorable pricing and increased volumes.

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SOURCE Mylan Inc.
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