PITTSBURGH, Oct. 3, 2014 /PRNewswire/ -- Mylan Inc.
(Nasdaq: MYL) today announced that it expects third quarter
adjusted diluted earnings per share to be in the range of
$1.12 to $1.16 per share, an increase
from the previously communicated third quarter range of
$0.90 to $0.95 per share. This
increased guidance range is due in part to stronger than
anticipated third quarter operational performance, supported by
multiple product approvals and launches in the U.S. during the
quarter.
The increased guidance range for the third quarter also includes
approximately $0.14 per share as a
result of an agreement with Strides Arcolab Limited. Mylan
recognized compensation, and the resulting positive impact on cash,
for lost revenues in 2014 arising from supply disruptions that
resulted from on-going quality-enhancement activities initiated at
certain Agila facilities prior to Mylan's acquisition of Agila from
Strides in 2013.
Based on the company's strong third quarter operational
performance and anticipated fourth quarter results, Mylan is
increasing its previously communicated adjusted diluted earnings
per share guidance range for the full year from $3.25 to 3.45 per share to $3.44 to $3.54 per share. This revised
range excludes potential launches of generic Copaxone® and generic
Lidoderm®.
Mylan will host a conference call and live webcast on
Thursday, Oct. 30, 2014, at
4:30 p.m. ET to review financial
results for the third quarter and nine months ended Sept. 30, 2014. Mylan will release its financial
results on Oct. 30, after the market
closes.
The dial-in number to access the call is 800.514.4861 or
678.809.2405 for international callers. To access the live webcast,
please log on to Mylan's website, mylan.com, at least 15 minutes
before the event is scheduled to begin to register and download or
install any necessary software. A replay of the webcast will be
available at mylan.com/investors for a limited time.
Forward-Looking Statements
This press release may contain "forward-looking statements."
These statements are made pursuant to the safe harbor provisions of
the Private Securities Litigation Reform Act of 1995. Such
forward-looking statements may include, without limitation,
statements about the Company's future operations, its anticipated
business levels, future earnings, and other expectations and
targets for future periods. These often may be identified by the
use of words such as "may," "could," "should," "would," "project,"
"believe," "anticipate," "expect," "plan," "estimate," "forecast,"
"potential" "intend," "continue," "target" and variations of these
words or comparable words. Because forward-looking statements
inherently involve risks and uncertainties, actual future results
may differ materially from those expressed or implied by such
forward-looking statements. Factors that could cause or contribute
to such differences include, but are not limited to: the inherent
challenges, risks and costs in the Company's ability to identify,
acquire and integrate complementary or strategic acquisitions of
other companies, products or assets and in achieving anticipated
synergies; the Company's expected or targeted future financial and
operating performance and results; the Company's capacity to bring
new products to market, including but not limited to where the
Company uses its business judgment and decides to manufacture,
market, and/or sell products, directly or through third parties,
notwithstanding the fact that allegations of patent infringement(s)
have not been finally resolved by the courts (i.e., an "at-risk
launch"); the scope, timing and outcome of any ongoing legal
proceedings and the impact of any such proceedings on the Company's
consolidated financial condition, results of operations or cash
flows; the Company's ability to protect its intellectual property
and preserve its intellectual property rights; the effect of any
changes in customer and supplier relationships and customer
purchasing patterns; the ability to attract and retain key
personnel; changes in third-party relationships; the impacts of
competition; changes in economic and financial conditions of the
Company's business; uncertainties and matters beyond the control of
management; and inherent uncertainties involved in the estimates
and judgments used in the preparation of financial statements, and
the providing of estimates of financial measures, in accordance
with GAAP and related standards or on an adjusted basis. For more
detailed information on the risks and uncertainties associated with
the Company's business activities, see the risks described in the
Company's Annual Report on Form 10-K for the year ended
December 31, 2013 and its other
filings with the Securities and Exchange Commission ("SEC"). You
can access the Company's Form 10-K and other filings with the SEC
through the SEC website at www.sec.gov, and the
Company strongly encourages you to do so. The Company undertakes no
obligation to update any statements herein for revisions or changes
after the date of this release.
Mylan is a global pharmaceutical company committed to setting
new standards in health care. Working together around the world to
provide 7 billion people access to high quality medicine, we
innovate to satisfy unmet needs; make reliability and service
excellence a habit; do what's right, not what's easy; and impact
the future through passionate global leadership. We offer a growing
portfolio of more than 1,300 generic pharmaceuticals and several
brand medications. In addition, we offer a wide range of
antiretroviral therapies, upon which approximately 40% of HIV/AIDS
patients in developing countries depend. We also operate one of the
largest active pharmaceutical ingredient manufacturers and
currently market products in approximately 140 countries and
territories. Our workforce of more than 20,000 people is dedicated
to improving the customer experience and increasing pharmaceutical
access to consumers around the world. Learn more at
mylan.com.
SOURCE Mylan Inc.