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Mylan Reports a 23% Increase in Fourth Quarter 2012 Adjusted Diluted EPS to $0.65
Date:2/27/2013
ly $181 million in the current quarter. The increase in sales from new products was partially offset by lower sales of existing products as a result of lower pricing and volume. The effect of foreign currency translation was insignificant within North America.
Third party net revenues from EMEA were $368.3 million for the current quarter, compared to $347.4 million for the comparable prior year period, representing an increase of $21.0 million, or 6.0%. Foreign currency translation had a negative impact on sales for the current quarter, principally reflecting the strengthening of the U.S. Dollar versus the Euro. Translating current quarter third party net revenues from EMEA at prior year comparative period exchange rates would have resulted in an increase in third party net revenues of approximately $34 million, or 10%. This increase was principally the result of an increase in revenues in France, Italy and the United Kingdom of approximately 20%, 22% and 27%, respectively, 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 $384.8 million for the current quarter, compared to $337.9 million for the comparable prior year period, an increase of $46.8 million, or 13.9%. However, foreign currency translation had a negative impact on sales for the current quarter, principally reflecting the significant strengthening of the U.S. Dollar versus the Indian Rupee. Excluding the effect of foreign currency, calculated as described above, third party net revenues would have increased by approximately $60 million, or 18%. This increase is primarily driven by higher revenues by Mylan India, as a result of increased sales of antiretroviral finished dosage form generic products, which are used in the t
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| SOURCE Mylan Inc. Copyright©2012 PR Newswire. All rights reserved |
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