Mylan Reports a 23% Increase in Fourth Quarter 2012 Adjusted Diluted EPS to $0.65

 Mylan Reports a 23% Increase in Fourth Quarter 2012 Adjusted Diluted EPS to
                                    $0.65

Announces 2013 adjusted diluted EPS guidance range of $2.75 - $2.95

PR Newswire

PITTSBURGH, Feb. 27, 2013

PITTSBURGH, Feb.27, 2013 /PRNewswire/ -- Mylan Inc. (Nasdaq: MYL) today
announced its financial results for the three months and year ended
December31, 2012.

Financial Highlights

  oAdjusted diluted EPS of $0.65 for the three months ended December 31, 2012
    compared to $0.53 for the same prior year period, an increase of 23%
  oTotal revenues of $1.72 billion for the three months ended December 31,
    2012 compared to $1.53 billion for the same prior year period, an increase
    of 13%
  oOn a GAAP basis, diluted EPS of $0.39 for the three months ended December
    31, 2012 compared to $0.30 for the same prior year period, an increase of
    30%
  oAdjusted diluted EPS of $2.59 for the year ended December 31, 2012
    compared to $2.04 for the same prior year period, an increase of 27%
  oTotal revenues of $6.80 billion for the year ended December 31, 2012
    compared to $6.13 billion for the same prior year period, an increase of
    11%
  oOn a GAAP basis, diluted EPS of $1.52 for the year ended December 31, 2012
    compared to $1.22 for the same prior year period, an increase of 25%
  oAdjusted operating cash flow of $1.12 billion for the year ended December
    31, 2012, an increase of 27%, on a GAAP basis, cash flow from operating
    activities of $949 million for the year ended December 31, 2012
  oCompleted the repurchase of approximately 18.0 million shares of common
    stock for approximately $500 million during the three months ended
    December 31, 2012

Mylan Chief Executive Officer, Heather Bresch commented: "2012 was an
outstanding year for Mylan, with top-line growth of 11% and bottom line growth
of 27% versus last year. With 2012 adjusted diluted earnings per share of
$2.59, we delivered earnings at the high end of our updated guidance range.
This record performance again is a testament to the strength and diversity of
our global platform and our ability to consistently execute on our
commitments. We are particularly pleased that in the fourth quarter we saw
double-digit constant currency revenue growth in each of our segments and
regions. With this strong performance in 2012, Mylan has delivered
double-digit compound-annual growth in adjusted revenues (10%), EBITDA (16%)
and earnings per share (34%) over the past five years.

"Mylan's outstanding track record is one of the many reasons we are so excited
about, and have such strong confidence in, our future. For 2013, we are
projecting adjusted diluted EPS of between $2.75 and $2.95 per share, a 10%
increase at the midpoint over our 2012 EPS, and we remain confident in our
2018 target of $6 per share. This confidence in our future is supported by the
strength of the assets we have assembled to date and the broad array of
meaningful opportunities we see ahead to continue to drive our growth, as well
as the investments we are making in our business to ensure that we maximize
these opportunities. Further, we continue to generate strong cash flows and
returning value to our shareholders through share buy-backs remains an
important ongoing part of our cash deployment strategy."

John Sheehan, Mylan's chief financial officer, added: "We anticipate that 2013
will be another year of double-digit bottom line growth for Mylan as we
continue to invest for the future. We expect 2013 revenues of between $7
billion and $7.4 billion, which takes into account the continued unfavorable
impact on sales of certain foreign currency exchange rates resulting from the
strength of the U.S. Dollar. We believe that our ability to continue to
generate consistent growth underscores the power of our global platform. Not
only does Mylan have the capacity to accelerate our long-term growth targets
by executing on appropriate, strategic external opportunities, we also have
capacity for additional share repurchase programs such as the one announced
today. We look forward to providing further details on our exciting
longer-term outlook at our investor day in New York City on August 1^st."

Financial Results Summary

Three Months Ended December 31, 2012

For the three months ended December 31, 2012, Mylan reported total revenues of
$1.72 billion compared to $1.53 billion in the comparable prior year period,
an increase of $191.7 million or 12.5%. The effect of foreign currency
translation had an unfavorable impact of approximately 2% on total revenues
primarily reflecting a stronger U.S. Dollar in comparison to the currencies of
the other major markets in which Mylan operates. Translating total revenues
for the current quarter at prior year comparative period exchange rates would
have resulted in year-over-year growth of approximately $216 million, or 14%.

A tabular summary of Mylan's revenues for the three months and years ended
December31, 2012 and 2011 is included at the end of this release. Also
included at the end of this release are the reconciliations of adjusted
financial results to the most closely applicable GAAP financial result.

Third party net revenues from Mylan's Generics segment, which are derived from
sales in North America, Europe, the Middle East and Africa (collectively,
EMEA) and Australia, India, Japan and New Zealand (collectively, Asia Pacific)
were $1.56 billion in the quarter ended December31, 2012, compared to $1.42
billion in the comparable prior year period, representing an increase of
$141.7 million, or 10.0%, or an increase of approximately 12% when excluding
the unfavorable effect of foreign currency translation.

Third party net revenues from North America were $810.9 million for the
current quarter, compared to $737.1 million for the comparable prior year
period, representing an increase of $73.9 million, or 10.0%. The increase in
third party net revenues was principally due to sales of new products launched
during 2012, which totaled approximately $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 treatment of HIV/AIDS, and an increase in
sales of active pharmaceutical ingredients (API). In addition, local currency
revenues in Japan were favorably impacted by higher volumes. Offsetting these
increases was a decline in local currency revenues in Australia, principally
as a result of significant government-imposed price cuts in the current year.

For the current quarter, Mylan's Specialty segment reported third party net
sales of $145.3 million, an increase of $40.6 million, or 38.8%, from the
comparable prior year period of $104.7 million. The most significant
contributor to Specialty segment revenues continues to be the EPIPEN®
Auto-Injector, sales of which increased as a result of favorable pricing and
volume, including growth in the overall market. The EPIPEN® Auto-Injector is
the number one epinephrine auto-injector for the treatment of severe allergic
reactions.

Gross profit for the three months ended December 31, 2012, was $742.3 million
and gross margins were 43.1%. For the three months ended December 31, 2011,
gross profit was $644.6 million, and gross margins were 42.1%. Adjusted gross
profit, as further defined below, for the three months ended December 31, 2012
was $845.4 million and adjusted gross margins were 49% as compared to adjusted
gross profit of $732.2 million and adjusted gross margins of 48% in the
comparable prior year period. The increase in adjusted gross margins was
primarily the result of new product introductions in North America during 2012
and the increase in sales of the EPIPEN® Auto-Injector, partially offset by
the impact of unfavorable pricing on existing products in all regions within
our Generics segment.

Earnings from operations were $262.7 million for the three months ended
December 31, 2012, compared to $247.4 million for the comparable prior year
period. Adjusted earnings from operations, as further defined below, for the
three months ended December 31, 2012 was $409.3 million as compared to
adjusted earnings from operations of $363.8 million in the comparable prior
year period. This increase was driven by higher gross profit in the current
year, as discussed above, partially offset by increases in research and
development costs ("R&D") and selling, general and administrative costs
("SG&A"). R&D increased primarily due to the expenses related to the
development of the respiratory and biologics programs as well as the timing of
internal and external product development projects. SG&A increased as a result
of increased marketing costs in our Specialty segment, and higher employee
benefit costs.

Interest expense for the three months ended December 31, 2012, totaled $74.6
million, compared to $81.1 million for the comparable prior year period.
Adjusted interest expense, as further defined below, for the three months
ended December 31, 2012 was $59.3 million as compared to adjusted interest
expense of $68.1 million in the comparable prior year period. The decrease was
the result of lower interest expense on variable rate debt instruments
primarily due to the refinancing of our credit agreement in November 2011.

Other income (expense), net, was income of $2.8 million in the current quarter
compared to expense of $37.4 million in the comparable prior year period.
Generally included in other income (expense), net, are losses from equity
affiliates, foreign exchange gains and losses and interest and dividend
income. Additionally, included in the prior year period are charges associated
with the termination of certain interest rate swaps totaling $13.9 million and
the write-off of previously deferred financing fees of $20.1 million related
to the refinancing of our senior credit facility in November 2011.

Net earnings attributable to Mylan Inc. increased $32.5 million, or 25.1%, to
$162.0 million for the three months ended December 31, 2012 as compared to
$129.5 million for the prior year comparable period. Adjusted earnings
increased $40.3 million or 17.8% to $266.9 million for the three months ended
December 31, 2012 as compared to adjusted earnings of $226.6 million for the
prior year comparable period.

EBITDA, which is defined as net income (excluding the non-controlling interest
and income from equity method investees) plus income taxes, interest expense,
depreciation and amortization, was $398.5 million for the quarter ended
December31, 2012, and $334.0 million for the comparable prior year period.
After adjusting for certain items as further detailed below, adjusted EBITDA
was $462.4 million for the current three-month period and $406.6 million for
the comparable prior year period.

Year Ended December 31, 2012

For the year ended December 31, 2012, Mylan reported total revenues of $6.80
billion compared to $6.13 billion in the comparable prior year period. Third
party net revenues for the year ended December 31, 2012 were $6.75 billion
compared to $6.11 billion for the comparable prior year period, representing
an increase of $644.0 million, or 10.5%. Revenues were unfavorably impacted by
the effect of foreign currency translation, generally reflecting a stronger
U.S. Dollar as compared to the currencies in other major markets in which
Mylan operates. Translating third party net revenues at prior year exchange
rates would have resulted in year over year increase in third party net
revenues, excluding foreign currency, of $840 million, or approximately 14%.

Generics third party net revenues were $5.95 billion for the year ended
December 31, 2012, compared to $5.56 billion in the comparable prior year
period, representing an increase of $391.2 million, or 7.0%, or an increase of
approximately 11% when excluding the unfavorable effect of foreign currency
translation.

Third party net revenues from North America were $3.26 billion for the year
ended December 31, 2012, compared to $2.86 billion for the comparable prior
year period, representing an increase of $406.4 million, or 14.2%. The
increase in third party revenues was principally due to sales of new products
launched during 2012 which totaled approximately $784 million in the current
year to date period, partially offset by lower revenues from existing products
as a result of unfavorable pricing and volume.

Third party net revenues from EMEA were $1.36 billion for the year ended
December 31, 2012, compared to $1.47 billion for the comparable prior year
period, a decrease of $109.8 million, or 7.5%. Current year third party net
revenues from EMEA were essentially flat when translated at comparable prior
year period exchange rates. This slight decrease was the result of competitive
market conditions, which resulted in lower pricing on existing products in a
number of European markets in which Mylan operates, almost fully offset by new
product introductions throughout Europe and favorable volume, principally in
France and Italy.

In Asia Pacific, third party net revenues were $1.33 billion for the year
ended December 31, 2012, compared to $1.24 billion for the comparable prior
year period, an increase of $94.6 million, or 7.7%. Excluding the unfavorable
effect of foreign currency, calculated as described above, the increase was
approximately $185 million, or 15%.This increase is primarily driven by higher
third party sales by Mylan India.

Specialty reported third party net revenues of $800.2 million for the year
ended December 31, 2012, an increase of $252.8 million, or 46.2% over the
comparable prior year period amount of $547.4 million. This increase was the
result of higher sales of the EPIPEN® Auto-Injector.

Gross profit for the year ended December 31, 2012 was $2.91 billion and gross
margins were 42.8%. For the comparable prior year period, gross profit was
$2.56 billion and gross margins were 41.8%. Adjusted gross profit for the year
ended December 31, 2012 was $3.37 billion and adjusted gross margins were 50%
as compared to adjusted gross profit of $2.94 billion and adjusted gross
margins of 48% in the comparable prior year period. The increase in adjusted
gross margin was the result of new product introductions and favorable pricing
and volume on the EPIPEN® Auto-Injector.

Earnings from operations were $1.11 billion for the year ended December 31,
2012, compared to $1.01 billion for the comparable prior year period.
Adjusted earnings from operations for the year ended December 31, 2012 were
$1.69 billion as compared to adjusted earnings from operations of $1.48
billion in the comparable prior year period. This increase was driven by
higher gross profit in the current year, as discussed above, partially offset
by increases in R&D and SG&A. R&D increased due primarily to the expenses
related to the development of the respiratory and biologics programs as well
as the timing of internal and external product development projects. SG&A
increased as a result of increased marketing and employee benefit costs,
including increased costs for retirement and post-employment programs.

Interest expense for the year ended December 31, 2012, totaled $308.7 million,
compared to $335.9 million for the comparable prior year period. Adjusted
interest expense for the year ended December 31, 2012 was $242.4 million as
compared to adjusted interest expense of $286.1 million in the comparable
prior year period.

Other income (expense), net, for the year ended December 31, 2012 was income
of $3.4 million compared to expense of $14.9 million in the comparable prior
year period.

Net earnings attributable to Mylan Inc. increased $104.0 million, or 19.4%, to
$640.9 million for the year ended December 31, 2012 as compared to $536.8
million for the comparable prior year period. Adjusted earnings increased
$193.7 million, or 21.7%, to $1.09 billion for the year ended December 31,
2012 as compared to adjusted earnings of $893.0 million for the comparable
prior year period.

EBITDA was $1.68 billion for the year ended December 31, 2012, and $1.50
billion for the comparable prior year period. After adjusting for certain
items as further discussed below, adjusted EBITDA was $1.89 billion for the
year ended December 31, 2012 and $1.68 billion for the comparable prior year
period.

Cash Flow

Adjusted cash provided by operating activities was $1.12 billion for the year
ended December 31, 2012, compared to $882 million for the comparable prior
year period. On a GAAP basis, cash provided by operating activities was $949
million for the year ended December 31, 2012, compared to $720 million for the
comparable prior year period. Capital expenditures were approximately $305
million in the current year as compared to approximately $280 million in the
same prior year period.

During 2012, the Company completed two share repurchase programs by purchasing
approximately 41.4 millionshares of common stock for approximately $1.0
billion. During 2011, the Company repurchased approximately 14.8 million
shares of common stock for approximately $350 million. In addition, in
December 2012, the Company completed a private placement of $750 million
aggregate principal amount of 3.125% Senior Notes due 2023.

On February 27, 2013, the Board of Directors of the Company approved the
repurchase of up to $500 million of the Company's common stock either in the
open market or through privately negotiated transactions. The repurchase
program is expected to be completed during 2013, and does not obligate the
Company to acquire any particular amount of common stock.

2013 Guidance Metrics

The Company provided the following financial guidance for 2013 on an adjusted
basis and excluding the impact of any acquisitions, along with the significant
exchange rates used in preparing the guidance, which are shown below:

(in millions, except EPS, %'s and exchange rates)
Total Revenue                                      $7,000 - $7,400
Gross Profit Margin                                49% - 51%
SG&A as % of Total Revenue                         18% - 20%
R&D as % of Total Revenue                          6% - 7%
EBITDA                                             $1,900 - $2,100
Net Income                                         $1,060 - $1,180
Diluted EPS                                        $2.75 - $2.95
Operating Cash Flow                                $1,000 - $1,200
Capital Expenditures                               $300 - $400
Tax Rate                                           26% - 27%
Avg Diluted Shares Outstanding                     385 - 400
Key Exchange Rates Used for 2013 Guidance:
Australian Dollar ($ / AUD)                        1.04
British Pound ($ / GBP)                            1.60
Canadian Dollar (CAD / $)                          0.99
Euro ($ / EUR)                                     1.30
Indian Rupee (INR / $)                            51.00
Japanese Yen (JPY / $)                            82.52

Non-GAAP Financial Measures

Mylan is disclosing non-GAAP financial measures when providing financial
results. Primarily due to acquisitions, Mylan believes that an evaluation of
its ongoing operations (and comparisons of its current operations with
historical and future operations) would be difficult if the disclosure of its
financial results were limited to financial measures prepared only in
accordance with accounting principles generally accepted in the U.S. (GAAP).
In addition to disclosing its financial results determined in accordance with
GAAP, Mylan is disclosing certain non-GAAP results that exclude items such as
amortization expense and other costs directly associated with the acquisitions
as well as certain other expenses, other income and operating cash flow items
in order to supplement investors' and other readers' understanding and
assessment of the Company's financial performance, because the Company's
management uses these measures internally for forecasting, budgeting and
measuring its operating performance. In addition, the Company believes that
including EBITDA and supplemental adjustments applied in presenting adjusted
EBITDA pursuant to our credit agreement is appropriate to provide additional
information to investors to demonstrate the Company's ability to comply with
financial debt covenants (which are calculated using a measure similar to
adjusted EBITDA) and assess the Company's ability to incur additional
indebtedness. Whenever Mylan uses such a non-GAAP measure, it will provide a
reconciliation of non-GAAP financial measures to the most closely applicable
GAAP financial measure. Investors and other readers are encouraged to review
the related GAAP financial measures and the reconciliation of non-GAAP
measures to their most closely applicable GAAP measure set forth below and
should consider non-GAAP measures only as a supplement to, not as a substitute
for or as a superior measure to, measures of financial performance prepared in
accordance with GAAP.

Below is a reconciliation of GAAP net earnings attributable to Mylan Inc. and
diluted GAAP EPS to adjusted net earnings attributable to Mylan Inc. and
adjusted diluted EPS for the three months and years ended December31, 2012
and 2011 (in millions, except per share amounts):

                  Three Months Ended December   Year Ended December 31,
                  31,
                  2012           2011           2012            2011
GAAP net earnings $  
attributable to          $    $     $    $      $    $      $  
Mylan Inc. and    162.0   0.39  129.5  0.30  640.9   1.52  536.8   1.22
diluted GAAP EPS
Purchase
accounting
related           88.0           86.8           391.1           364.8
amortization
(included in cost
of sales) (a)
Litigation        (1.0)          20.1           (3.0)           48.6
settlements, net
Interest expense,
primarily
amortization of   7.6            13.0           35.6            49.8
convertible debt
discount
Non-cash
accretion and
fair value
adjustments of    7.7            —              38.7            —
contingent
consideration
liability
Clean energy
investment        4.4            —              16.8            —
pre-tax loss (b)
Financing related
costs (included   —              34.0           —               34.0
in other income
(expense), net)
Restructuringand
other special
items included
in:
Cost of sales     15.0           0.8            65.7            8.4
Research and
development       5.4            0.6            12.4            3.6
expense
Selling, general
and               39.2           8.1            104.9           44.9
administrative
expense
Other income, net (1.7)          1.4            (0.7)           0.2
Tax effect of the
above items and   (59.7)         (67.7)         (215.7)         (198.1)
other income tax
related items
Adjusted net
earnings
attributable to   $     $    $     $    $       $    $      $  
Mylan Inc. and    266.9  0.65  226.6  0.53  1,086.7  2.59  893.0   2.04
adjusted diluted
EPS
Weighted average
diluted common    412.6          429.7          420.2           438.8
shares
outstanding

(a) Purchase accounting related amortization expense for the years ended
December31, 2012 and 2011 includes in-process research and development asset
impairment charges of $41.6 million and $16.2 million, respectively.

(b) Adjustment represents exclusion of the pre-tax loss related to Mylan's
investment in a clean energy partnership, the activities of which qualify for
income tax credits under section 45 of the Internal Revenue Code. Amount is
included in other income (expense), net. Certain insignificant amounts of
other revenue, cost of sales, operating expenses and the related EBITDA and
Adjusted EBITDA amounts have been reclassified to other income (expense), net,
as losses from equity affiliates during the fourth quarter of 2012, with
corresponding revisions to the full year amounts. The reclassifications had no
impact on our previously reported net earnings and diluted EPS attributable to
Mylan Inc. common shareholders or adjusted net earnings and adjusted diluted
EPS attributable to Mylan Inc.



Below is a reconciliation of GAAP net earnings attributable to Mylan Inc. to
adjusted EBITDA for the three months and years ended December31, 2012 and
2011 (in millions):

                                    Three Months Ended    Year Ended
                                    December 31,          December 31,
                                    2012       2011       2012       2011
GAAP net earnings attributable to   $      $      $      $    
Mylan Inc.                          162.0      129.5      640.9      536.8
Add adjustments:
Net contribution attributable to
the noncontrolling interest and     4.6        0.4        18.9       2.0
equity method investees
Income taxes                        28.7       (1.0)      161.1      115.8
Interest expense                    74.6       81.1       308.7      335.9
Depreciation and amortization (a)   128.6      124.0      546.6      510.6
EBITDA                              $      $      $        $  
                                    398.5      334.0      1,676.2   1,501.1
Add (deduct) adjustments:
Stock-based compensation expense    10.5       9.6        42.6       42.4
Litigation settlements, net         (1.0)      20.1       (3.1)      48.6
Restructuring& other special items 54.4       42.9       176.3      84.9
Adjusted EBITDA                     $      $      $        $  
                                    462.4      406.6      1,892.0   1,677.0

(a) Purchase accounting related amortization expense for the years ended
December31, 2012 and 2011 includes in-process research and development asset
impairment charges of $41.6 million and $16.2 million, respectively.

Conference Call

Mylan will host a conference call and live webcast, including a slide
presentation, today, February 27, 2013, at 5:00 pm ET, in conjunction with the
release of its financial results. The dial-in number to access the call is
877.402.3913 or 817.382.5964 for international callers. A replay, available
for approximately seven days, will be available at 800.585.8367 or
404.537.3406 for international callers with access pass code 94045069. To
access a live webcast of the call, and the slide presentation, please log on
to Mylan's Web site (www.mylan.com) at least 15 minutes before the event is to
begin to register and download or install any necessary software. A replay of
the webcast will be available on www.mylan.com for approximately seven days.

About Mylan

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 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 1,100 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.
But don't take our word for it. See for yourself. See inside. mylan.com

Forward-Looking Statements

This press release includes statements that constitute "forward-looking
statements", including with regard to the Company's future operations, its
anticipated business levels, future earnings, planned activities, anticipated
growth, and other expectations and targets for future periods. These
statements are made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995, and often may be identified by the
use of words such as "may", "believe", "anticipate", "expect", "plan",
"estimate", "target" and variations of these words or comparable words.
Because such 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: challenges, risks and costs
inherent in business integrations and in achieving anticipated synergies; 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. These forward-looking statements
should be considered in connection with any subsequent written or oral
forward-looking statements that may be made by the Company or by persons
acting on its behalf and in conjunction with its periodic SEC filings. In
addition, please refer to the cautionary note on forward-looking statements
and risk factors set forth in the Company's Report on Form 10-Q, for the
quarter ended September30, 2012, and in its other filings with the SEC.
Further, uncertainties or other circumstances, or matters outside of the
Company's control between the date of this release and the date that its Form
10-K for the year ended December31, 2012, is filed with the SEC could
potentially result in adjustments to reported results. The Company undertakes
no obligation to update statements herein for revisions or changes after the
date of this release.

Mylan Inc. and Subsidiaries
Condensed Consolidated Statements of Operations
(Unaudited; in thousands, except per share amounts)

                      Three Months Ended            Year Ended

                      December 31,                  December 31,
                      2012           2011           2012           2011
Revenues:
Net revenues          $             $             $             $ 
                      1,709,350     1,527,062     6,750,246     6,106,277
Other revenues        13,504         4,172          45,864         23,548
Total revenues        1,722,854      1,531,234      6,796,110      6,129,825
Cost of sales         980,538        886,636        3,887,806      3,566,461
Gross profit          742,316        644,598        2,908,304      2,563,364
Operating expenses:
Research and          117,770        76,077         401,341        294,728
development
Selling, general and  362,945        301,026        1,400,747      1,214,631
administrative
Litigation            (1,049)        20,099         (3,133)        48,556
settlements, net
Total operating       479,666        397,202        1,798,955      1,557,915
expenses
Earnings from         262,650        247,396        1,109,349      1,005,449
operations
Interest expense      74,573         81,108         308,699        335,944
Other income          2,779          (37,412)       3,429          (14,869)
(expense), net
Earnings before
income taxes and      190,856        128,876        804,079        654,636
noncontrolling
interest
Income tax provision  28,696         (1,018)        161,145        115,833
Net earnings          162,160        129,894        642,934        538,803
Net earnings
attributable to the   (196)          (403)          (2,084)        (1,993)
noncontrolling
interest
Net earnings
attributable to Mylan $           $           $           $   
Inc. common           161,964        129,491        640,850        536,810
shareholders
Earnings per common
share attributable to
Mylan Inc. common
shareholders:
Basic                 $        $        $        $     
                      0.40           0.30           1.54            1.25
Diluted               $        $        $        $     
                      0.39           0.30           1.52            1.22
Weighted average
common shares
outstanding:
Basic                 406,840        426,560        415,210        430,839
Diluted               412,620        429,691        420,236        438,785



Mylan Inc. and Subsidiaries
Condensed Consolidated Balance Sheets
(Unaudited; in thousands)

                                December 31,       December 31,
                                2012               2011
ASSETS
Assets
Current assets:
Cash and cash equivalents       $     349,969  $     375,056
Accounts receivable, net        1,554,342          1,426,438
Inventories                     1,525,242          1,396,742
Other current assets            473,164            370,608
Total current assets            3,902,717          3,568,844
Intangible assets, net          2,224,457          2,630,747
Goodwill                        3,515,655          3,517,935
Other non-current assets        2,289,068          1,880,617
Total assets                    $  11,931,897    $  11,598,143
LIABILITIES AND EQUITY
Liabilities
Current liabilities (a)         $   2,193,503   $   2,563,156
Long-term debt                  5,337,196          4,479,080
Other non-current liabilities   1,045,370          1,051,125
Total liabilities               8,576,069          8,093,361
Noncontrolling interest         15,110             13,007
Mylan Inc. shareholders' equity 3,340,718          3,491,775
Total liabilities and equity    $  11,931,897    $  11,598,143

(a) At December 31, 2011, long-term debt of approximately $594.0 million
related to the Senior Convertible Notes was classified within current
liabilities. In March 2012 the Senior Convertible Notes matured and were
repaid.|



Mylan Inc. and Subsidiaries
Summary of Revenues by Segment
(Unaudited; in millions)

             Three Months Ended  Year Ended          Three Months Ended   Year Ended
             December 31,        December 31,        Percent Change       Percent Change
             2012      2011      2012      2011      Total  Constant      Total  Constant
                                                            Currency^(1)         Currency^(1)
Generics:
Third party
net sales
North        $      $      $      $   
America                      3,263.7  2,857.4  10 %   10 %          14 %   14 %
             810.9     737.1
EMEA         368.3     347.4     1,356.2   1,466.0   6 %    10 %          (7)%   (1)%
Asia Pacific 384.8     337.9     1,330.1   1,235.5   14 %   18 %          8 %    15 %
Total third
party net    1,564.0   1,422.4   5,950.0   5,558.9   10 %   12 %          7 %    11 %
sales
Other third
party        3.7       3.6       31.3      20.4
revenues
Total third
party        1,567.7   1,426.0   5,981.3   5,579.3
revenues
Intersegment 0.4       1.3       1.6       2.5
revenues
Generics
total        1,568.1   1,427.3   5,982.9   5,581.8
revenues
Specialty:
Third party  145.3     104.7     800.2     547.4     39 %   39 %          46 %   46 %
net sales
Other third
party        9.8       0.5       14.6      3.1
revenues
Total third
party        155.1     105.2     814.8     550.5
revenues
Intersegment 6.9       18.6      37.0      70.0
revenues
Specialty
total        162.0     123.8     851.8     620.5
revenues
Elimination
of           (7.3)     (19.9)    (38.6)    (72.5)
intersegment
revenues
Consolidated $      $      $      $   
total        1,722.8  1,531.2  6,796.1  6,129.8  13 %   14 %          11 %   14 %
revenues

(1) The constant currency percent change is derived by translating third party
net sales for the current period at prior year comparative period exchange
rates.|



Mylan Inc. and Subsidiaries
Reconciliation of Non-GAAP Financial Measures
(Unaudited; in millions)

                          Three Months Ended      Year Ended
                          December 31,            December 31,
                          2012       2011         2012           2011
GAAP cost of sales        $      $       $           $   
                           980.5    886.6        3,887.8       3,566.5
Deduct:
Purchase accounting       88.0       86.8         391.1          364.8
related amortization
Restructuring & other     15.0       0.8          65.7           8.4
special items
Adjusted cost of sales    $      $       $           $   
                           877.5    799.0        3,431.0       3,193.3
Adjusted gross profit (a) $      732.2        3,365.1        2,936.5
                           845.4
Adjusted gross margin (a) 49 %       48 %         50 %           48 %
                          Three Months Ended      Year Ended
                          December 31,            December 31,
                          2012       2011         2012           2011
GAAP total operating      $      $       $           $   
expenses                   479.7    397.2        1,799.0       1,557.9
Deduct:
Litigation settlements,   (1.0)      20.1         (3.0)          48.6
net
Restructuring & other     44.6       8.7          125.5          48.5
special items
Adjusted total operating  $      $       $           $   
expenses                   436.1    368.4        1,676.5       1,460.8
Adjusted earnings from    $      $       $           $   
operations (b)             409.3    363.8        1,688.6       1,475.7
                          Three Months Ended      Year Ended
                          December 31,            December 31,
                          2012       2011         2012           2011
GAAP interest expense     $      $       $         $     
                            74.6    81.1       308.7          335.9
Deduct:
Interest expense related
to clean energy           1.4        —            6.2            —
investment (c)
Non-cash accretion of
contingent consideration  7.7        —            30.7           —
liability
Non-cash interest,
primarily amortization of 6.2        13.0         29.4           49.8
convertible debt discount
Adjusted interest expense $      $       $         $     
                            59.3    68.1       242.4          286.1
                          Three Months Ended      Year Ended
                          December 31,            December 31,
                          2012       2011         2012           2011
GAAP other income         $      $       $        $     
(expense)                    2.8  (37.4)        3.4          (14.9)
Add (Deduct):
Clean energy investment   4.4        —            16.8           —
operating results (c)
Financing related costs   —          34.0         —              $      
                                                                 34.0
Restructuring & other     (1.7)      1.4          (0.7)          $      
special items                                                     0.2
Adjusted other income     $      $       $        $      
(expense)                    5.5   (2.0)      19.5           19.3

Reconciliation of cash provided by operating activities

                                             Year Ended December 31,
                                             2012                2011
GAAP cash provided by operating activities   $       949  $      
                                                                 720
Add:
Payment of litigation settlements            109                 81
Payment of interest rate swap settlement     —                   14
Adjustments for timing of cash receipts      62                  7
deducted in prior periods
Payment to Merck KGaA related to income tax  —                   60
benefits on indemnified litigation
Increase in deferred revenue                 18                  —
Income tax items                             (14)                —
Adjusted cash provided by operating          $      1,124   $      
activities                                                       882

(a) Adjusted gross profit is calculated as total revenues less adjusted cost
of sales. Adjusted gross margin is calculated as adjusted gross profit
divided by total revenue.

(b) Adjusted earnings from operations is calculated as adjusted gross profit
less adjusted total operating expenses.

(c) Adjustment represents exclusion of activity related to Mylan's
investment in a clean energy partnership, the activities of which qualify for
income tax credits under section 45 of the Internal Revenue Code. Certain
insignificant amounts of other revenue, cost of sales, operating expenses and
the related EBITDA and Adjusted EBITDA amounts have been reclassified to other
income (expense), net, as losses from equity affiliates during the fourth
quarter of 2012, with corresponding revisions to the full year amounts. The
reclassifications had no impact on our previously reported net earnings and
diluted EPS attributable to Mylan Inc. common shareholders or adjusted net
earnings and adjusted diluted EPS attributable to Mylan Inc.



Reconciliation of Forecasted Non-GAAP Metrics

The reconciliations below are based in part on management's estimate of
adjusted net earnings and adjusted diluted EPS, adjusted EBITDA and adjusted
cash provided by operating activities for the year ending December 31, 2013.
Mylan expects certain known GAAP charges and payments for 2013, as presented
in the reconciliations below. Other GAAP charges and payments, including those
related to potential litigation, asset impairments and restructuring programs
that would be excluded from the adjusted results are possible, but their
amounts are dependent on numerous factors that we currently cannot ascertain
with sufficient certainty or are presently unknown. These GAAP charges and
payments are dependent upon future events and valuations that have not yet
occurred or been performed.

Reconciliation of forecasted net earnings and EPS to adjusted net earnings

                                    Lower                 Upper
GAAP net earnings attributable to   $   690  $  1.79  $    810  $ 2.03
Mylan Inc. and diluted GAAP EPS
Purchase accounting related         352                   362
amortization
Interest expense, primarily
amortization of convertible debt    30                    32
discount
Non-cash accretion of contingent    32                    34
consideration liability
Pre-tax loss of clean energy        18                    20
investment
Restructuring& other special items 115                   130
Tax effect of the above items and   (177)                 (208)
other income tax related items
Adjusted net earnings attributable
to Mylan Inc. and adjusted diluted  $ 1,060   $  2.75  $   1,180   $ 2.95
EPS
Weighted average diluted common     385                   400
shares outstanding



Reconciliation of forecasted net earnings to adjusted EBITDA

                                              Lower              Upper
GAAP net earnings attributable to Mylan Inc.  $            $      
                                              690               810
Add adjustments:
 Net contribution attributable to the
 noncontrolling interest and equity method    18                 20
 investees
 Income taxes                                 197                210
 Interest expense                             310                330
 Depreciation and amortization                520                540
EBITDA                                        $      1,735  $     
                                                                 1,910
Add adjustments:
 Stock-based compensation expense             50                 60
 Restructuring& other special items          115                130
Adjusted EBITDA                               $      1,900  $     
                                                                 2,100



Reconciliation of forecasted cash provided by operating activities

                                         Lower               Upper
GAAP cash provided by operating          $       870  $      1,070
activities
Add:
Estimated payment of legal settlements   90                  90
Estimated payment related to income tax  26                  26
benefits on indemnified litigation
Other items                              14                  14
Adjusted cash provided by operating      $      1,000   $      1,200
activities

SOURCE Mylan Inc.

Website: http://www.mylan.com
Contact: Nina Devlin, Media, +1-724-514-1968, or Kris King, Investors,
+1-724-514-1813
 
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