Company name: Mylan Labs
Location: Pittsburgh, PA
Annual sales (in millions): $3.620
Market share: 11.3%
CEO: Robert Coury
Like Teva, Mylan started out small. The company initially had only a handful of employees and a single office when it was founded in West Virginia in 1961 by Milan Puskar and Don Panoz.
Mylan saw revenues rise versus the same quarter last year--$1.37 billion versus $1.27 billion. But the company also narrowed its forecasted range of adjusted diluted EPS to $1.55 - $1.65 from $1.50 - $1.70. And net earnings totaled $51.5 million, or $0.16 per share, down from $58 million, or $0.19 per share during the same period 2009, when Mylan reported gains related to restructuring reserves and termination of joint ventures, as Reuters notes.
"The second quarter marks yet another quarter where we have met or exceeded our financial expectations," says Mylan Chairman and CEO Robert Coury. In our view, this quarter was exceptionally strong as it continues to demonstrate the underlying strength of our overall business. We were able to deliver adjusted diluted EPS of $0.37 despite many challenges, including the delay of certain product approvals, global pricing pressures and the impact of negative currency trends.