May 9, 2008

Matrix Laboratories updates

"Mylan Inc., USA, (Mylan) the ultimate holding Company of Matrix Laboratories Ltd (Matrix) has reported today (8th May, local time), the unaudited interim consolidated financials of Mylan for the quarter ended March 31, 2008 under US GAAP reporting, which inter alia included the following unaudited details of Matrix.

Revenues for the three months ended March 31, 2008 (on a US GAAP basis) of US $ 103 million, including third party sales of US $ 87.6 million.

Further note that financial results of Matrix for the quarter ended / year ended March 31, 2008 are yet to be reported under Indian GAAP and the above information is as reported as Mylan, which is being forwarded to your by Matrix for your information.

Further also note that Indian GAAP and U.S. GAAP differ in certain significant respects, and the US GAAP figures reported above may not be indicative of the results under Indian GAAP."

No comments: