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Mylan Reports a 19% Increase in First Quarter 2013 Adjusted Diluted EPS to $0.62
Date:5/2/2013

d March 31, 2013, compared to $1.40 billion in the comparable prior year period, representing a slight increase of $5.8 million, or an increase of approximately 2% when excluding the unfavorable effect of foreign currency translation.

Third party net revenues from North America were $732.8 million for the current quarter, compared to $767.7 million for the comparable prior year period, representing a decrease of $34.9 million, or 4.5%. The decrease in third party net revenues was due to a greater amount of revenue from new product launches in the prior year ($211 million) as compared to the current year ($117 million), which was due principally to the launch of Escitalopram, our most significant product launch in the prior year. Excluding the impact of Escitalopram in both periods, third party net revenues in North America would have experienced double-digit growth. The effect of foreign currency translation was insignificant within North America.

Third party net revenues from EMEA were $369.9 million for the current quarter, compared to $335.6 million for the comparable prior year period, representing an increase of $34.2 million, or 10.2%. Foreign currency translation had a minimal impact on sales for the current quarter, as translating current quarter third party net revenues from EMEA at prior year comparative period exchange rates resulted in an increase in third party net revenues of approximately 10%. This increase was principally the result of a double-digit increase in revenues in France as a result of new product revenue and favorable volume.  Partially offsetting these increases was unfavorable pricing in a number of European markets in which Mylan operates as a result of government imposed pricing reductions and competitive market conditions.

Third party net revenues from Asia Pacific were $305.1 million for the current quarter, compared to $298.7 million for the comparable prior year period, an increase of $6.4 million,
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SOURCE Mylan Inc.
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