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Mylan Launches First Equivalent Product To Lexapro® Tablets

Stocks in this article: MYL

PITTSBURGH, Feb. 29, 2012 /PRNewswire/ -- Mylan Inc. (Nasdaq: MYL) today announced that its subsidiary Mylan Pharmaceuticals Inc. has launched Escitalopram Tablets USP, 5 mg, 10 mg and 20 mg, the first equivalent product to Forest Laboratories' Lexapro®, which is used for acute and maintenance treatment of major depressive disorder (MDD) and acute treatment of generalized anxiety disorder (GAD).[1],[2]

Mylan will market this product exclusively until the expiration of the pediatric exclusivity on the compound patent, as per the settlement agreement between Mylan's Alphapharm subsidiary and Forest Laboratories Inc.

Mylan CEO Heather Bresch said: "We are extremely pleased to be the first company to offer the first equivalent product to Lexapro, allowing customers, payors and patients to realize significant savings from our high quality, more affordable treatment option."

Lexapro had U.S. sales of approximately $2.9 billion for the 12 months ending Dec. 31, 2011, according to IMS Health.

Currently, Mylan has 172 ANDAs pending FDA approval representing $98.1 billion in annual sales, according to IMS Health. Forty-one of these pending ANDAs are potential first-to-file opportunities, representing $26.1 billion in annual brand sales, for the 12 months ending June 30, 2011, according to IMS Health.

Mylan Inc. ranks among the leading generic and specialty pharmaceutical companies in the world and provides products to customers in more than 150 countries and territories. The company maintains one of the industry's broadest and highest quality product portfolios supported by a robust product pipeline; operates one of the world's largest active pharmaceutical ingredient manufacturers; and runs a specialty business focused on allergy, respiratory and psychiatric therapies. For more information about Mylan, please visit www.mylan.com. For more information about generic drugs, please visit www.ChoosingGenerics.com.

This press release includes statements that constitute "forward-looking statements," including with regard to product approvals and regulatory matters. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. 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: the impact and effects of legal or regulatory proceedings; uncertainties and matters beyond the control of management; and the other risks detailed in the company's filings with the Securities and Exchange Commission. The company undertakes no obligation to update these statements for revisions or changes after the date of this release.

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