A tabular summary of the company's revenues for the three and nine months ended September 30, 2011, and 2010, is included at the end of this release.
Third party net sales in Mylan's Generics segment, which are derived from sales in North America, Europe, the Middle East and Africa (collectively, EMEA) and Asia Pacific were $1.36 billion in the current quarter, compared to $1.20 billion in the comparable prior year period.
Third party net sales from North America were $697.0 million for the current quarter, compared to $572.5 million for the comparable prior year period, representing an increase of $124.5 million or 21.7%. The increase in third party revenues was principally due to sales of new products and to a lesser extent, incremental revenue from the acquisition of Bioniche Pharma in September 2010, which together totaled approximately $103.0 million in the current quarter. New product revenue included Mylan's 2011 launch of Budesonide (the generic version of AstraZeneca's Entocort EC® capsules). Additionally, sales of existing products also increased during the quarter as a result of favorable pricing and increased volume. The effect of foreign currency translation was insignificant within North America.
Third party net sales from EMEA were $350.8 million for the current quarter, compared to $363.5 million for the comparable prior year period, a decrease of $12.7 million, or 3.5%. Foreign currency translation had a positive impact on sales for the current quarter, principally reflecting the weakening of the U.S. Dollar against the Euro. Translating current quarter third party net revenues from EMEA at prior year comparative period exchange rates would have resulted in a decline in third party net revenues, excluding the effect of foreign currency, of approximately $40 million, or 11%. This decrease was the result of competitive market conditions and government
|SOURCE Mylan Inc.|
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