Mylan to Retain Dey, L.P., Its Specialty Pharmaceutical ...( Mylan reaffirms adjusted dilute...),Health

Mylan reaffirms adjusted diluted EPS guidance for '08, '09, '10 Dey expected to contribute positively to Mylan's adjusted diluted EPS

PITTSBURGH, Sept. 8 /PRNewswire-FirstCall/ -- Following the completion of a comprehensive review of strategic alternatives for Dey, L.P., Mylan Inc.'s (NYSE: MYL) branded specialty pharmaceutical subsidiary, Mylan announced today that it will retain the Dey business.

In addition, the company said it is reaffirming its adjusted diluted EPS guidance for 2008, 2009 and 2010 of $0.47 to $0.53, $0.90 to $1.10 and $1.50 to $1.70, respectively. It also said the retention of the Dey business is expected to contribute positively to Mylan's 2008, 2009 and 2010 adjusted diluted EPS projections. Management would have been in a position to reconfirm guidance without the contribution from the retention of Dey.

"I'm particularly pleased to be able to reaffirm our previous EPS guidance, especially in light of the recent strengthening of the dollar, as both our generics and branded businesses continue to perform well," said Mylan Vice Chairman and CEO Robert J. Coury. "After carefully analyzing all the options regarding Dey, it became clear that retaining the business was truly in the best interest of all stakeholders. This became evident since we rebased the business in February and took more control of the day-to-day operations of the company. The work that we have done is already producing results; we're currently outperforming our rebased expectations for 2008, and we stand to benefit even more from Dey's potential going forward."

In addition, the company said, Dey will be included in Mylan's ongoing initiatives to strengthen and optimize its global platform. As part of this activity, Myl
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