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Mylan Reports Adjusted Diluted Cash EPS of $0.11 for the Quarter
Date:2/27/2008

llion, the majority of which are derived from the three largest markets; France, the United Kingdom and Germany.

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
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SOURCE Mylan Inc.
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Related medicine news :

1. Mylan Announces Appointment of Jagdish Dore as CEO and Managing Director of Matrix Laboratories
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3. Mylan Confirms Its Matrix Design Fentanyl Patch Is Not Included In the Widespread Recall Announced February 12th
4. Mylan Restores Availability of Generic Levothyroxine in Florida
5. Mylan Schedules Financial Results Conference Call and Live Webcast for the Quarter and Nine Months Ended Dec. 31, 2007
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