In Asia Pacific, third party net sales were $1.07 billion for 2010, compared to $877.1 million for the prior year, an increase of $197.2 million, or 22.5%. However, excluding the favorable effect of foreign currency translation, calculated as described above, the increase was approximately $108 million, or 12%. This increase is primarily driven by higher third party sales by Matrix, combined with third party sales growth in Japan.
Specialty reported third party net sales for 2010 of $422.8 million, an increase of $17.5 million, or 4.3% over the prior year of $405.3 million. Intercompany sales by Specialty totaled $61.8 million for 2010, compared to $40.8 million in the prior year. This increase is due to the fact that, beginning in late 2009, certain generic products previously sold to third parties by Specialty are now sold to Mylan subsidiaries in North America who, in turn, sell the products to third parties. Excluding the sale of such products from 2009 third party net sales would have resulted in an increase in third party net sales in the current year of approximately $64 million or 18%.
This increase in third party net sales in Specialty was the result of favorable pricing and higher volumes of Dey's EpiPen Auto-Injector, and higher sales volumes of Perforomist® Solution, Dey's Formoterol Fumarate Inhalation Solution.
Gross profit for the current year was $2.22 billion and gross margins were 40.7%. For the prior year, gross profit was $2.07 billion, and gross margins were also 40.7%. Gross profit for both the current and prior years is impacted by certain purchase accounting related items as discussed above, of approximately $309.2 million, and $282.5 million, respectively. Excluding such items, gross margins wou
|SOURCE Mylan Inc.|
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