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Mylan to Retain Dey, L.P., Its Specialty Pharmaceutical Subsidiary
Date:9/8/2008

an is realigning the business by:

-- 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

locations;

-- transitioning Dey's manufacturing operations out of the Napa facility;

and

-- 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
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SOURCE Mylan Inc.
Copyright©2008 PR Newswire.
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