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Mylan Reports Adjusted Diluted EPS of $0.16 for the Quarter Ended June 30, 2008
Date:8/6/2008

ditionally, current quarter margins were negatively impacted by competition on certain products including amlodipine and oxybutynin during the past twelve months.

The Company reported earnings from operations of $74.0 million for the three months ended June 30, 2008. Excluding the purchase accounting items discussed above, earnings from operations would have been $186.1 million.

For the quarter ended June 30, 2007, Mylan reported earnings from operations of $188.1 million. Excluding certain purchase accounting items, earnings from operations would have been $206.9 million. This represents a current year decrease of $20.8 million or 10.0%, which is the result of increased research and development ("R&D") expense and selling, general and administrative ("SG&A") expense.

R&D expense was $80.8 million for the three months ended June 30, 2008, compared to $31.7 million in the same prior year period. R&D expense includes approximately $40.9 million related to newly acquired entities, all of which was incremental to the comparable prior year period. Excluding this amount, R&D expense increased by $8.1 million or 26% primarily as a result of increased ANDA submissions.

SG&A expense for the three months ended June 30, 2008 was $259.5 million compared to $76.9 million in the same prior year period. SG&A expense includes approximately $152.9 million related to newly acquired entities, all of which was incremental to the comparable prior year period. Excluding this amount, SG&A expense increased by $29.5 million or 38%. The majority of this increase was realized by Corporate and Other, and is the result of costs associated with the integration of Merck Generics, as well as higher payroll and related costs principally attributable to the build-up of additional corporate infrastructure as a direct result of the acquisition.

Interest expense for the current quarter totaled $86.5 million compared to $22.9 million for the three months ended June 30
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SOURCE Mylan Inc.
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