-- Relocating the company's commercial operations from its Napa, Calif.,
facilities to the East Coast;
-- right-sizing Dey's R&D functions, and relocating them to other Mylan
-- transitioning Dey's manufacturing operations out of the Napa facility;
-- transitioning all G&A functions from Napa in parallel with the business
areas they support.
"These activities will position us to divest Dey's Napa facilities over the next two years," Coury said. "We are hopeful that we can find a buyer who may be able to maintain employment there."
Carolyn Myers, PhD, Dey's president said, "Since taking over management of Dey in January, I've been extremely pleased with the accomplishments we've achieved to date. They include the successful relaunch and repositioning of Perforomist. I am excited that Mylan has decided to retain this asset, and we see a tremendous amount of opportunity not only to enhance Dey's value, but further enhance Mylan's global value overall."
In addition to excluding one-time costs associated with the realignment
of the Dey business, the company's reaffirmed financial guidance continues
to exclude the following items:
-- Purchase accounting related charges, including amortization of
intangibles and the inventory basis step-up;
-- integration and other non-recurring expenses;
-- the non-cash goodwill impairment charge related to the Specialty
Segment that was recorded in the first quarter of 2008; and
-- recognition of previously deferred revenues related to the sale of our
rights to Bystolic.
Mylan Inc., which provides products to customers in more than 120
countries and territories, ranks among the leading diversified generic and
specialty pharmaceutical companies in the world. The company maintains one
of the industry's broadest -- and highest quality
|SOURCE Mylan Inc.|
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