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Mylan Reports a 13% Increase in Second Quarter 2013 Adjusted Diluted EPS to $0.68
Date:8/1/2013

he prior year as a result of the collaboration with Pfizer Japan. Under the collaboration, Pfizer Japan is responsible for commercialization of the combined generics portfolio and managing the marketing and sales effort. Offsetting these decreases in SG&A was acquisition related costs of approximately $25 million. R&D increased primarily due to licensing payments in the current year totaling approximately $23 million and increases related to the development of the respiratory and biologics programs.

Interest expense for the six months ended June 30, 2013, totaled $159.8 million, compared to $158.1 million for the comparable prior year period. Adjusted interest expense, as further defined below, for the six months ended June 30, 2013 was $127.5 million as compared to adjusted interest expense of $121.8 million in the comparable prior year period. The increase was the result of an increased level of borrowings in 2013.

Other (expense) income, net, was expense of $3.8 million in the six months ended June 30, 2013 compared to expense of $5.6 million in the comparable prior year period. Other (expense) income, net for the current year to date period includes charges of approximately $8.7 million related to the June 2013 Senior Credit Agreement refinancing transaction, primarily the write-off of deferred financing costs and interest rate swap termination fees. Also included in other (expense) income, net, are losses from equity affiliates, foreign exchange gains and losses and interest and dividend income.

Net earnings attributable to Mylan Inc. increased $16.9 million, or 6.3%, to $284.6 million for the six months ended June 30, 2013 as compared to $267.6 million for the prior year comparable period. Adjusted earnings increased $29.0 million, or 6.1%, to $507.5 million for the six months ended June 30, 2013 as compared to adjusted earnings of $478.5 million for the prior year comparable period.

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SOURCE Mylan Inc.
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