Mylan reaffirms '07 forecast despite Duragesic rival
 Monday, August 07, 2006

Mylan reaffirms '07 forecast despite Duragesic rival

Last Updated: 2006-08-07 16:53:12 -0400 (Reuters Health)

NEW YORK (Reuters) - Mylan Laboratories Inc. on Monday reaffirmed its fiscal 2007 earnings forecast despite U.S. regulatory approval of another generic version of the Duragesic pain patch.

A company spokesman said Mylan is sticking with its view of adjusted earnings per share in a range of $1.35 per share to $1.55 per share for fiscal 2007.

The affirmation comes after U.S. regulators approved Lavipharm SA's generic version of the Duragesic pain patch. Mylan had been selling the only generic version of Duragesic, know by the generic name fentanyl.

"We're surprised by the approval announced today, but our guidance fully anticipated additional fentanyl competition" said Patrick Fitzgerald, Mylan spokesman.



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