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Mylan Reports Adjusted Diluted EPS of $0.43; Reaffirms 2010 Adjusted Diluted EPS Guidance of $1.55 - $1.65
Date:10/26/2010

, is included at the end of this release.

Mylan has two reportable segments, "Generics" and "Specialty."  Generics third party net sales, which are derived from sales in North America, Europe, the Middle East and Africa (collectively, EMEA) and Asia Pacific were $1.20 billion in the current quarter, compared to $1.11 billion in the same prior year period.

Third party net sales from North America were $572.5 million for the current quarter, compared to $487.9 million for the comparable prior year period, representing an increase of $84.6 million or 17.3%.  This increase was mainly driven by new products launched in the U.S., which contributed sales of $106.5 million in the current quarter.  The current quarter was significant in that it included three launches of products with limited competition; clonidine transdermal system USP, the generic version of Boehringer Ingelheim's Catapres-TTS®, a treatment for hypertension; tacrolimus capsules, the generic version of Astellas' Prograf® Capsules, a treatment to prevent rejection in people who have received certain organ transplants; and minocycline hydrochloride extended release tablets (minocycline ER), the generic version of Solodyn® ER, a treatment for acne, sold by Medicis Pharmaceuticals Corporation.  

As a result of significant uncertainties surrounding the pricing and market conditions with respect to minocycline ER, Mylan is not able to reasonably estimate the amount of potential price adjustments, including product returns. Therefore, revenues of this product are currently being deferred until the resolution of such uncertainties. At the present time, such uncertainties are resolved upon its customers' sale of this product. As a result, the company is recognizing revenue only upon our customers' sale of this product.

Partially offsetting the increase in revenue from new products was unfavorable pricing on certain existing products, primarily as a resu
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SOURCE Mylan Inc.
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