Revenues from Asia Pacific were $170.9 million for the three months ended December 31, 2007 and were derived from Mylan's newly acquired operations in Australia, Japan and New Zealand.
For the Specialty Segment, total revenues for the three months ended December 31, 2007 were $102.1 million. The Specialty Segment consists of the Dey business that focuses on the development, manufacturing and marketing of specialty pharmaceuticals in the respiratory and severe allergy markets.
The Matrix Segment reported total revenues of $107.1 million, of which $92.9 million represents sales to third parties.
Gross profit for the three months ended December 31, 2007 was $356.1 million and gross margins were 30.8%. The decrease in gross margins is due primarily to the effects of purchase accounting items recorded during the quarter of approximately $117.7 million, which consisted primarily of amortization related to purchased intangible assets and the amortization of the inventory step-up associated with the acquisition of Merck Generics. Excluding such items, gross margins were 41.0% compared to 55.9% for the three months ended December 31, 2006.
The Company reported a loss from operations of $1.27 billion for the three months ended December 31, 2007. This loss from operations for the quarter included a $1.27 billion one-time charge to write-off acquired in-process research and development, which is recorded without a tax effect, and excludes the $117.7 million of purchase accounting items discussed above. Excluding these amounts, earnings from operations would have been $118.5 million, a decrease of $65.1 million from the prior year.
Research and development ("R&D") expense for the three months ended
December 31, 2007 was $80.8 million compared to $22.9 million in the same
prior year period. R&D expense includes approximately $5
|SOURCE Mylan Inc.|
Copyright©2008 PR Newswire.
All rights reserved