r 31, 2011, compared to $305.1 million for the comparable prior year period, an increase of $32.8 million, or 10.8%. Foreign currency translation had a negative impact on sales for the current quarter. Excluding the effect of foreign currency, calculated as described above, the increase was approximately $47 million, or 16%. This increase is primarily driven by higher third party sales from Mylan Laboratories Limited (formerly Matrix Laboratories Limited), Mylan's subsidiary in India, an increase in third party sales in Japan, as well as new product launches, mainly in Australia.
For the three months ended December 31, 2011, Mylan's Specialty segment reported third party net revenues of $104.7 million, an increase of $29.7 million, or 39.7%, from the comparable prior year period of $75.0 million. The most significant contributor to Specialty segment revenues continues to be the EpiPen® Auto-Injector, sales of which increased as a result of both favorable pricing and higher volumes. The EpiPen® Auto-Injector is the number one epinephrine auto-injector for the treatment of severe allergic reactions and maintains a market share in excess of 95% in the United States.
Gross profit for the three months ended December 31, 2011 was $644.6 million and gross margins were 42.1%. In the comparable prior year period, gross profit was $579.2 million, and gross margins were 40.4%. Gross profit for the current and prior year periods were impacted by certain purchase accounting and other special items of approximately $87.6 million and $94.4 million, respectively, which consisted primarily of amortization related to purchased intangible assets. Excluding such items, gross margins would have been approximately 48% and 47%, respectively. The increase in gross margins was primarily the result of new product introductions in North America and favorable pricing on the EpiPen® Auto-Injector.
Earnings from operations were $2Page: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 Related medicine technology :1
. Mylan and Pfizer Announce Epinephrine Auto-injector Settlement Agreement2
. Mylan to Change Name of Specialty Subsidiary From Dey Pharma to Mylan Specialty3
. Mylan Actively Addressing Shortage of Preservative-Free Methotrexate Injection4
. Mylan CEO Heather Bresch Testifies Before Congress in Support of Generic Drug User Fee Program and Urges Update of Federal Food, Drug and Cosmetic Act of 1938 to Create a Level Playing Field for Manufacturers5
. Mylan Completes Acquisition of Two Limited-Competition Dermatological Products from Valeant6
. Valeant Pharmaceuticals Completes Divestiture of Generic Dermatology Products to Mylan7
. Mylan Receives Tentative FDA Approval for Generic Version of Lipitor®8
. Mylan to Host Investor Day on Feb. 21, 2012, in New York City9
. Mylan Launches Innovative Version of Antiepileptic Drug Levetiracetam10
. Mylan Launches First Generic Version of Teveten® Tablets11
. Mylan Receives Approval for First-to-File Generic Keppra XR® Extended-Release Tablets