Mylan raises EPS guidance on strong generic sales

USA-based generic drugmaker Mylan Laboratories increased its fiscal 2007 adjusted diluted earnings per share guidance to a range of $1.60 to $1.63 from $1.50 to $1.55. This revised guidance range excludes any contribution from the March 23, launch of amlodipine besylate as well as other items.

While the full financial results for fiscal 2007, which ended on March 31, have not yet been finalized, the company is increasing its existing fiscal 2007 guidance for the third time based on the continued strong performance of its base generic business as well as certain new products. The company noted that, at this time, it is not including any contribution from amlodipine besylate in the increased guidance range based on pending regulatory decisions from the US Food and Drug Administration related to the company's 180-day exclusivity for this product.

However, regardless of the regulatory decisions concerning exclusivity the company expects that there will be additional upside to the revised guidance as a result of the amlodipine launch.