The company doubled in size when it bought Merck KGaA's generic drug business. And that was after it had already purchased Indian generic drugmaker Matrix Laboratories. In an instant, it became a global player.
To say 2008 was a rebuilding year would be an understatement. Adjusted EPS came in at $0.80 per share, lower than the $0.92 per share that it managed in a shortened 2007 -- the company changed its fiscal year end from March to December, reporting only nine months for 2007.
The December quarter of last year was the first quarter where year-over-year comparisons were relevant. Revenue was up 4% thanks to launches of generic versions of UCB's Keppra and GlaxoSmithKline's
Mylan should continue seeing benefits of cost savings from being larger this year. Revenue isn't expected to grow much and could even shrink a little, but adjusted EPS was expected to grow at least 12% to $0.90-$1.10 next year.
Being smaller than Teva Pharmaceuticals
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