##### Table of Contents





UNITED STATES
    SECURITIES AND EXCHANGE COMMISSIONWashington, DC
    20549
  FORM 10-K/A
  o

Annual Report pursuant to Section 13 or 15(d) of the
    Securities Exchange Act of 1934For the Fiscal Year
    Endedþ

Transition Report pursuant to Section 13 or 15(d) of the
    Securities Exchange Act of 1934For the transition period from
    April 1, 2007 to December 31,
    2007   Commission File
    No. 1-9114
  MYLAN INC.
 (Exact name of registrant as
    specified in its charter)
  Pennsylvania

25-1211621(State of Incorporation)

(IRS Employer Identification No.)   1500
    Corporate Drive, Canonsburg, Pennsylvania 15317(724) 514-1800 (Address,
    including zip code, and telephone number, including area code,
    of principal executive offices)
  Securities registered pursuant to Section 12(b) of the
    Act:
  Title of Each Class:

Name of Each Exchange on Which
    Registered:Common Stock, par value $0.50 per share
    6.50% Mandatory Convertible Preferred Stock

New York Stock Exchange
    New York Stock Exchange   Securities
    registered pursuant to Section 12(g) of the Act:
    None
  þ o
  o þ
  þ o
  Regulation S-K Form 10-K Form 10-K. o
    Large accelerated
    filer þ

Accelerated
    filer o

Non-accelerated
    filer o

Smaller reporting
    company o(Do not check if a smaller reporting company)   Rule 12b-2 o þ
      DOCUMENTS
    INCORPORATED BY REFERENCE
  Parts of Form 10-K into whichDocument isDocument

IncorporatedProxy Statement for the 2008 Annual Meeting of Shareholders,
    which will be filed with the Securities and Exchange Commission
    within 120 days after the end of the registrants
    period ended December 31, 2007.

III




---



##### Table of Contents



Explanatory
    Note:
  Form 10-K/A Form 10-K/A) Form 10-K). Form 10-K/A
    (1)
    On February 27, **2008**, Mylan executed an agreement with
    Forest Laboratories, whereby Mylan sold its rights to Nebivolol,
    an FDA approved product for the treatment of hypertension which
    is marketed by Forest under the Brand name
    Bystolictm.
    Mylan will receive a one-time cash payment of
    $370.0 million (within ten business days from the execution
    of the agreement) and will retain its contractual royalties for
    three years, through calendar 2010.(2)
    Cash flows from operating activities were **$167.7** million for
    the transition period, consisting primarily of non-cash
    add-backs for acquired in-process research and development and
    depreciation and amortization, partially offset by a net
    decrease in operating assets and liabilities.(3)
    During the quarter ended December 31, 2007, the Company
    completed its acquisition of Merck Generics, discussed in
    Managements Report on Internal Control over Financial
    Reporting on page **106**, and implemented a new consolidation
    system to enhance the Companys worldwide consolidation
    function.    Rule 12b-15 10-K/A.
  10-K/A. 10-K 10-K/A.




---



##### 





MYLAN
    INC.
  INDEX TO
    FORM 10-K
 For the
    Nine Months Ended December 31, 2007
   
 PagePART IITEM 1.


Business


3ITEM 1A.


Risk Factors


20ITEM 1B.


Unresolved Staff Comments


37ITEM 2.


Properties


37ITEM 3.


Legal Proceedings


39ITEM 4.


Submission of Matters to a Vote of Security Holders


41PART IIITEM 5.


Market for Registrants Common Equity, Related Stockholder
    Matters and Issuer Purchases of Equity Securities


42ITEM 6.


Selected Financial Data


44ITEM 7.


Managements Discussion and Analysis of Results of
    Operations and Financial Condition


45ITEM 7A.


Quantitative and Qualitative Disclosures about Market Risk


63ITEM 8.


Financial Statements and Supplementary Data


65ITEM 9.


Changes in and Disagreements with Accountants on Accounting and
    Financial Disclosure


110ITEM 9A.


Controls and Procedures


110ITEM 9B.


Other Information


111PART IIIITEM 10.


Directors, Executive Officers and Corporate Governance


111ITEM 11.


Executive Compensation


111ITEM 12.


Security Ownership of Certain Beneficial Owners and Management
    and Related Stockholder Matters


111ITEM 13.


Certain Relationships and Related Transactions, and Director
    Independence


111ITEM 14.


Principal Accounting Fees and Services


111PART IVITEM 15.


Exhibits and Financial Statement Schedules


112Signatures


116EX-10.26EX-21EX-23EX-31.1EX-31.2EX-32   2




---



##### Table of Contents



PART I  ITEM 1.
    Business    Form 10-K Form 10-K
  Overview
        Disclosures about Segments of an Enterprise and
    Related Information 10-K
 3




---



##### Table of Contents



Our
    Operations
      Generics
    Segment
  North
    America
    Approved Drug Products with Therapeutic Equivalence
    Evaluations and/or
   4




---



##### Table of Contents



180-day 180-day
        ®
      EMEA
   5




---



##### Table of Contents



and/or
         6




---



##### Table of Contents



Asia
    Pacific
          Specialty
    Segment
        tm
  tm
 7




---



##### Table of Contents



tm
      Matrix
    Segment
            Research
    and Development
      
    development of controlled-release technologies and the
    application of these technologies to reference products;
    development of both NDA and ANDA products;
    development of drugs that are technically difficult to formulate
    or manufacture either because of unusual factors that affect
    their stability or bioequivalence or unusually stringent
    regulatory requirements;
    development of drugs that target smaller, specialized or
    underserved markets; 8




---



##### Table of Contents




    development of generic drugs that represent first-to-file
    opportunities;
    expansion of our existing solid oral dosage product portfolio,
    including with respect to additional dosage strengths;
    completion of additional preclinical and clinical studies for
    approved NDA products required by the FDA, known as
    post-approval (Phase IV) commitments; and
    conducting life-cycle management studies intended to further
    define the profile of products subject to pending or approved
    NDAs.      Product
    Development and Government Regulation
  Generics
    Segment
  North
    America
    NDA.
  ANDA.
     9




---



##### Table of Contents



and/or and/or
           10




---



##### Table of Contents



24-month
  and/or Regulations
      EMEA
   11




---



##### Table of Contents



60-day
           12




---



##### Table of Contents



Asia
    Pacific
       13




---



##### Table of Contents



e.g.
 14




---



##### Table of Contents



Specialty
    Segment
    
    laboratory and preclinical tests;
    submission of an Investigational New Drug (IND),
    application, which must become effective before clinical studies
    may begin;
    adequate and well-controlled human clinical studies to establish
    the safety and efficacy of the proposed product for its intended
    use;
    submission of an NDA containing the results of the preclinical
    tests and clinical studies establishing the safety and efficacy
    of the proposed product for its intended use, as well as
    extensive data addressing matters such as manufacturing and
    quality assurance;
    scale-up to
    commercial manufacturing; and
    FDA approval of an NDA.  30-day
 15




---



##### Table of Contents




    Phase I:  The drug is initially introduced into
    a relatively small number of healthy human subjects or patients
    and is tested for safety, dosage tolerance, mechanism of action,
    absorption, metabolism, distribution and excretion.
    Phase II:  Studies are performed with a limited
    patient population to identify possible adverse effects and
    safety risks, to assess the efficacy of the product for specific
    targeted diseases or conditions, and to determine dosage
    tolerance and optimal dosage.
    Phase III:  When Phase II evaluations
    demonstrate that a dosage range of the product is effective and
    has an acceptable safety profile, Phase III trials are
    undertaken to evaluate further dosage and clinical efficacy and
    to test further for safety in an expanded patient population at
    geographically dispersed clinical study sites.          and/or
  Matrix
    Segment
   16




---



##### Table of Contents



Patents,
    Trademarks and Licenses
            case-by-case
     17




---



##### Table of Contents



Customers
    and Marketing
  Generics
    Segment
      Matrix
    Segment
    Specialty
    Segment
      Competition
      United States.
       18




---



##### Table of Contents



France.
  United Kingdom.
  Germany.
  Spain. and/or
  Italy.
  Australia.
  Japan.
  India.
  Product
    Liability
     19




---



##### Table of Contents



Raw
    Materials
    Seasonality
    Environment
    Employees
  non-U.S. Mylan
  Securities
    Exchange Act Reports
  Form 10-K, Form 10-Q Form 8-K. Form 10-K 1-800-SEC-0330. www.sec.gov).
  ITEM 1A.
    Risk
    Factors    OUR ACQUISITION OF MERCK GENERICS INVOLVES A NUMBER OF
    INTEGRATION RISKS. THESE RISKS COULD CAUSE A MATERIAL ADVERSE
    EFFECT ON OUR BUSINESS, FINANCIAL
 20




---



##### Table of Contents



POSITION AND RESULTS OF OPERATIONS AND COULD CAUSE THE MARKET
    VALUE OF OUR COMMON STOCK TO DECLINE.
    
    difficulties in successfully integrating the facilities,
    operations and personnel of Merck Generics with our historical
    business and corporate culture;
    difficulties in achieving identified financial and operating
    synergies;
    diversion of managements attention from our ongoing
    business concerns to integration matters;
    the potential loss of key personnel or customers;
    difficulties in consolidating information technology platforms
    and corporate infrastructure;
    difficulties in transitioning the Merck Generics business and
    products from the Merck name to achieve a global
    brand alignment;
    our substantial indebtedness and assumed liabilities;
    the incurrence of significant additional capital expenditures,
    transaction and operating expenses and non-recurring
    acquisition-related charges;
    challenges in operating in other markets outside of the United
    States that are new to us; and
    unanticipated effects of export controls, exchange rate
    fluctuations, domestic and foreign political conditions or
    domestic and foreign economic conditions.    WE MAY FAIL TO REALIZE THE EXPECTED COST SAVINGS, GROWTH
    OPPORTUNITIES AND OTHER BENEFITS ANTICIPATED FROM THE
    ACQUISITIONS OF MERCK GENERICS AND A CONTROLLING INTEREST IN
    MATRIX.
        WE HAVE GROWN AT A VERY RAPID PACE. OUR INABILITY TO PROPERLY
    MANAGE OR SUPPORT THIS GROWTH MAY HAVE A MATERIAL ADVERSE EFFECT
    ON OUR BUSINESS, FINANCIAL POSITION AND RESULTS OF OPERATIONS
    AND COULD CAUSE THE MARKET VALUE OF OUR COMMON STOCK TO
    DECLINE.
 21




---



##### Table of Contents



OUR GLOBAL EXPANSION THROUGH THE ACQUISITIONS OF MERCK
    GENERICS AND A CONTROLLING INTEREST IN MATRIX EXPOSES US TO
    ADDITIONAL RISKS WHICH COULD HAVE A MATERIAL ADVERSE EFFECT ON
    OUR BUSINESS, FINANCIAL POSITION AND RESULTS OF OPERATIONS AND
    COULD CAUSE THE MARKET VALUE OF OUR COMMON STOCK TO DECLINE.
    
    compliance with a variety of national and local laws of
    countries in which we do business, including restrictions on the
    import and export of certain intermediates, drugs and
    technologies;
    fluctuations in exchange rates for transactions conducted in
    currencies other than the functional currency;
    adverse changes in the economies in which we operate as a result
    of a slowdown in overall growth, a change in government or
    economic liberalization policies, or financial, political or
    social instability in such countries that affects the markets in
    which we operate, particularly emerging markets;
    wage increases or rising inflation in the countries in which we
    operate;
    natural disasters, including drought, floods and earthquakes in
    the countries in which we operate; and
    communal disturbances, terrorist attacks, riots or regional
    hostilities in the countries in which we operate.    OUR FUTURE REVENUE GROWTH AND PROFITABILITY ARE DEPENDENT
    UPON OUR ABILITY TO DEVELOP
    AND/OR
    LICENSE, OR OTHERWISE ACQUIRE, AND INTRODUCE NEW PRODUCTS ON A
    TIMELY BASIS IN RELATION TO OUR COMPETITORS PRODUCT
    INTRODUCTIONS. OUR FAILURE TO DO SO SUCCESSFULLY COULD HAVE A
    MATERIAL ADVERSE EFFECT ON OUR FINANCIAL POSITION AND RESULTS OF
    OPERATIONS AND COULD CAUSE THE MARKET VALUE OF OUR COMMON STOCK
    TO DECLINE.
  and/or
 22




---



##### Table of Contents



and/or
         23




---



##### Table of Contents



IF THE INTERCOMPANY TERMS OF CROSS BORDER ARRANGEMENTS WE
    HAVE AMONG OUR SUBSIDIARIES ARE DETERMINED TO BE INAPPROPRIATE,
    OUR TAX LIABILITY MAY INCREASE, WHICH COULD HAVE A MATERIAL
    ADVERSE EFFECT ON OUR BUSINESS, FINANCIAL POSITION AND RESULTS
    OF OPERATIONS AND COULD CAUSE THE MARKET VALUE OF OUR COMMON
    STOCK TO DECLINE.
    OUR APPROVED PRODUCTS MAY NOT ACHIEVE EXPECTED LEVELS OF
    MARKET ACCEPTANCE, WHICH COULD HAVE A MATERIAL ADVERSE EFFECT ON
    OUR PROFITABILITY, BUSINESS, FINANCIAL POSITION AND RESULTS OF
    OPERATIONS AND COULD CAUSE THE MARKET VALUE OF OUR COMMON STOCK
    TO DECLINE.
    
    the availability of alternative products from our competitors;
    the price of our products relative to that of our competitors;
    the timing of our market entry;
    the ability to market our products effectively to the retail
    level; and
    the acceptance of our products by government and private
    formularies.    A RELATIVELY SMALL GROUP OF PRODUCTS MAY REPRESENT A
    SIGNIFICANT PORTION OF OUR NET REVENUES, GROSS PROFIT OR NET
    EARNINGS FROM TIME TO TIME. IF THE VOLUME OR PRICING OF ANY OF
    THESE PRODUCTS DECLINES, IT COULD HAVE A MATERIAL ADVERSE EFFECT
    ON OUR BUSINESS, FINANCIAL POSITION AND RESULTS OF OPERATIONS
    AND COULD CAUSE THE MARKET VALUE OF OUR COMMON STOCK TO
    DECLINE.
    WE FACE VIGOROUS COMPETITION FROM OTHER PHARMACEUTICAL
    MANUFACTURERS THAT THREATENS THE COMMERCIAL ACCEPTANCE AND
    PRICING OF OUR PRODUCTS. SUCH COMPETITION COULD HAVE A MATERIAL
    ADVERSE EFFECT ON OUR BUSINESS, FINANCIAL POSITION AND RESULTS
    OF OPERATIONS AND COULD CAUSE THE MARKET VALUE OF OUR COMMON
    STOCK TO DECLINE.
 24




---



##### Table of Contents




    proprietary processes or delivery systems;
    larger research and development and marketing staffs;
    larger production capabilities in a particular therapeutic area;
    more experience in preclinical testing and human clinical trials;
    more products; or
    more experience in developing new drugs and greater financial
    resources, particularly with regard to manufacturers of branded
    products.    BECAUSE THE PHARMACEUTICAL INDUSTRY IS HEAVILY REGULATED, WE
    FACE SIGNIFICANT COSTS AND UNCERTAINTIES ASSOCIATED WITH OUR
    EFFORTS TO COMPLY WITH APPLICABLE REGULATIONS. SHOULD WE FAIL TO
    COMPLY, WE COULD EXPERIENCE MATERIAL ADVERSE EFFECTS ON OUR
    BUSINESS, FINANCIAL POSITION AND RESULTS OF OPERATIONS, AND THE
    MARKET VALUE OF OUR COMMON STOCK COULD DECLINE.
  and/or
     25




---



##### Table of Contents



OUR REPORTING AND PAYMENT OBLIGATIONS UNDER THE MEDICARE
    AND/OR
    MEDICAID REBATE PROGRAM AND OTHER GOVERNMENTAL PURCHASING AND
    REBATE PROGRAMS ARE COMPLEX AND MAY INVOLVE SUBJECTIVE DECISIONS
    THAT COULD CHANGE AS A RESULT OF NEW BUSINESS CIRCUMSTANCES, NEW
    REGULATORY GUIDANCE, OR ADVICE OF LEGAL COUNSEL. ANY
    DETERMINATION OF FAILURE TO COMPLY WITH THOSE OBLIGATIONS COULD
    SUBJECT US TO PENALTIES AND SANCTIONS WHICH COULD HAVE A
    MATERIAL ADVERSE EFFECT ON OUR BUSINESS, FINANCIAL POSITION AND
    RESULTS OF OPERATIONS, AND THE MARKET VALUE OF OUR COMMON STOCK
    COULD DECLINE.
  and/or Form 10-K,
  and/or
  and/or and/or and/or
 26




---



##### Table of Contents



WE EXPEND A SIGNIFICANT AMOUNT OF RESOURCES ON RESEARCH AND
    DEVELOPMENT EFFORTS THAT MAY NOT LEAD TO SUCCESSFUL PRODUCT
    INTRODUCTIONS. FAILURE TO SUCCESSFULLY INTRODUCE PRODUCTS INTO
    THE MARKET COULD HAVE A MATERIAL ADVERSE EFFECT ON OUR BUSINESS,
    FINANCIAL POSITION AND RESULTS OF OPERATIONS, AND THE MARKET
    VALUE OF OUR COMMON STOCK COULD DECLINE.
  and/or
  A SIGNIFICANT PORTION OF OUR NET REVENUES IS DERIVED FROM
    SALES TO A LIMITED NUMBER OF CUSTOMERS. ANY SIGNIFICANT
    REDUCTION OF BUSINESS WITH ANY OF THESE CUSTOMERS COULD HAVE A
    MATERIAL ADVERSE EFFECT ON OUR BUSINESS, FINANCIAL POSITION AND
    RESULTS OF OPERATIONS, AND THE MARKET VALUE OF OUR COMMON STOCK
    COULD DECLINE.
    THE USE OF LEGAL, REGULATORY AND LEGISLATIVE STRATEGIES BY
    COMPETITORS, BOTH BRAND AND GENERIC, INCLUDING AUTHORIZED
    GENERICS AND CITIZENS PETITIONS, AS WELL AS THE
    POTENTIAL IMPACT OF PROPOSED LEGISLATION, MAY INCREASE OUR COSTS
    ASSOCIATED WITH THE INTRODUCTION OR MARKETING OF OUR GENERIC
    PRODUCTS, COULD DELAY OR PREVENT SUCH INTRODUCTION
    AND/OR COULD
    SIGNIFICANTLY REDUCE OUR PROFIT POTENTIAL. THESE FACTORS COULD
    HAVE A MATERIAL ADVERSE EFFECT ON OUR BUSINESS, FINANCIAL
    POSITION AND RESULTS OF OPERATIONS AND COULD CAUSE THE MARKET
    VALUE OF OUR COMMON STOCK TO DECLINE.
    
    entering into agreements whereby other generic companies will
    begin to market an authorized generic, a generic equivalent of a
    branded product, at the same time generic competition initially
    enters the market;
    filing citizens petitions with the FDA or other regulatory
    bodies, including timing the filings so as to thwart generic
    competition by causing delays of our product approvals; 27




---



##### Table of Contents




    seeking to establish regulatory and legal obstacles that would
    make it more difficult to demonstrate bioequivalence;
    initiating legislative efforts to limit the substitution of
    generic versions of brand pharmaceuticals;
    filing suits for patent infringement that may delay regulatory
    approval of many generic products;
    introducing next-generation products prior to the
    expiration of market exclusivity for the reference product,
    which often materially reduces the demand for the first generic
    product for which we seek regulatory approval;
    obtaining extensions of market exclusivity by conducting
    clinical trials of brand drugs in pediatric populations or by
    other potential methods;
    persuading regulatory bodies to withdraw the approval of brand
    name drugs for which the patents are about to expire, thus
    allowing the brand name company to obtain new patented products
    serving as substitutes for the products withdrawn; and
    seeking to obtain new patents on drugs for which patent
    protection is about to expire.      WE HAVE SUBSTANTIAL INDEBTEDNESS AND WILL BE REQUIRED TO
    APPLY A SUBSTANTIAL PORTION OF OUR CASH FLOW FROM OPERATIONS TO
    SERVICE OUR INDEBTEDNESS. OUR SUBSTANTIAL INDEBTEDNESS MAY HAVE
    A MATERIAL ADVERSE EFFECT ON OUR BUSINESS, FINANCIAL POSITION
    AND RESULTS OF OPERATIONS AND COULD CAUSE THE MARKET VALUE OF
    OUR COMMON STOCK TO DECLINE.
    
    increasing our vulnerability to general adverse economic and
    industry conditions;
    requiring us to dedicate a substantial portion of our cash flow
    from operations and proceeds of any equity issuances to payments
    on our indebtedness, thereby reducing the availability of cash
    flow to fund working capital, capital expenditures, acquisitions
    and investments and other general corporate purposes;
    making it difficult for us to optimally capitalize and manage
    the cash flow for our businesses;
    limiting our flexibility in planning for, or reacting to,
    changes in our businesses and the markets in which we operate;
    making it difficult for us to meet the leverage and interest
    coverage ratios required by our Senior Credit Agreement;
    limiting our ability to borrow money or sell stock to fund our
    working capital, capital expenditures, acquisitions and debt
    service requirements and other financing needs;
    increasing our vulnerability to increases in interest rates in
    general because a substantial portion of our indebtedness bears
    interest at floating rates; 28




---



##### Table of Contents




    requiring us to sell assets in order to pay down debt; and
    placing us at a competitive disadvantage to our competitors that
    have less debt.    WE MAY DECIDE TO SELL ASSETS WHICH COULD ADVERSELY AFFECT OUR
    PROSPECTS AND OPPORTUNITIES FOR GROWTH, AND WHICH COULD AFFECT
    OUR BUSINESS, FINANCIAL POSITION AND RESULTS OF OPERATIONS AND
    COULD CAUSE THE MARKET VALUE OF OUR COMMON STOCK TO DECLINE.
    OUR CREDIT FACILITIES AND ANY ADDITIONAL INDEBTEDNESS WE
    INCUR IN THE FUTURE IMPOSE, OR MAY IMPOSE, SIGNIFICANT OPERATING
    AND FINANCIAL RESTRICTIONS, WHICH MAY PREVENT US FROM
    CAPITALIZING ON BUSINESS OPPORTUNITIES. THESE FACTORS COULD HAVE
    A MATERIAL ADVERSE EFFECT ON OUR BUSINESS, FINANCIAL POSITION
    AND RESULTS OF OPERATIONS AND COULD CAUSE THE MARKET VALUE OF
    OUR COMMON STOCK TO DECLINE.
    WE DEPEND ON THIRD-PARTY SUPPLIERS AND DISTRIBUTORS FOR THE
    RAW MATERIALS, PARTICULARLY THE CHEMICAL COMPOUND(S) COMPRISING
    THE ACTIVE PHARMACEUTICAL INGREDIENT, THAT WE USE TO MANUFACTURE
    OUR PRODUCTS AS WELL AS CERTAIN FINISHED GOODS. A PROLONGED
    INTERRUPTION IN THE SUPPLY OF SUCH PRODUCTS COULD HAVE A
    MATERIAL ADVERSE EFFECT ON OUR BUSINESS, FINANCIAL POSITION
 29




---



##### Table of Contents



AND RESULTS OF OPERATIONS, AND THE MARKET VALUE OF OUR COMMON
    STOCK COULD DECLINE.
        OUR EFFORTS TO TRANSITION OUR MERCK GENERICS SUBSIDIARIES
    AWAY FROM THE MERCK NAME AND AWAY FROM SERVICES BEING PROVIDED
    BY MERCK KGAA MAY IMPOSE INHERENT RISKS OR RESULT IN GREATER
    THAN EXPECTED COSTS OR IMPEDIMENTS, WHICH COULD HAVE A MATERIAL
    ADVERSE EFFECT ON OUR BUSINESS, FINANCIAL POSITION AND RESULTS
    OF OPERATIONS AND COULD CAUSE THE MARKET VALUE OF OUR COMMON
    STOCK TO DECLINE.
      and/or
 30




---



##### Table of Contents



OUR BUSINESS IS HIGHLY DEPENDENT UPON MARKET PERCEPTIONS OF
    US, OUR BRANDS AND THE SAFETY AND QUALITY OF OUR PRODUCTS. OUR
    BUSINESS OR BRANDS COULD BE SUBJECT TO NEGATIVE PUBLICITY, WHICH
    COULD HAVE A MATERIAL ADVERSE EFFECT ON OUR BUSINESS, FINANCIAL
    POSITION AND RESULTS OF OPERATIONS AND COULD CAUSE THE MARKET
    VALUE OF OUR COMMON STOCK TO DECLINE.
    WE HAVE A LIMITED NUMBER OF MANUFACTURING FACILITIES
    PRODUCING A SUBSTANTIAL PORTION OF OUR PRODUCTS. PRODUCTION AT
    ANY ONE OF THESE FACILITIES COULD BE INTERRUPTED, WHICH COULD
    HAVE A MATERIAL ADVERSE EFFECT ON OUR BUSINESS, FINANCIAL
    POSITION AND RESULTS OF OPERATIONS AND COULD CAUSE THE MARKET
    VALUE OF OUR COMMON STOCK TO DECLINE.
    WE MAY EXPERIENCE DECLINES IN THE SALES VOLUME AND PRICES OF
    OUR PRODUCTS AS THE RESULT OF THE CONTINUING TREND TOWARD
    CONSOLIDATION OF CERTAIN CUSTOMER GROUPS, SUCH AS THE WHOLESALE
    DRUG DISTRIBUTION AND RETAIL PHARMACY INDUSTRIES, AS WELL AS THE
    EMERGENCE OF LARGE BUYING GROUPS. THE RESULT OF SUCH
    DEVELOPMENTS COULD HAVE A MATERIAL ADVERSE EFFECT ON OUR
    BUSINESS, FINANCIAL POSITION AND RESULTS OF OPERATIONS AND COULD
    CAUSE THE MARKET VALUE OF OUR COMMON STOCK TO DECLINE.
    OUR COMPETITORS, INCLUDING BRANDED PHARMACEUTICAL COMPANIES,
    OR OTHER THIRD PARTIES MAY ALLEGE THAT WE ARE INFRINGING THEIR
    INTELLECTUAL PROPERTY, FORCING US TO EXPEND SUBSTANTIAL
    RESOURCES IN RESULTING LITIGATION, THE OUTCOME OF WHICH IS
    UNCERTAIN. ANY UNFAVORABLE OUTCOME OF SUCH LITIGATION COULD HAVE
    A MATERIAL ADVERSE EFFECT ON OUR BUSINESS, FINANCIAL POSITION
    AND RESULTS OF OPERATIONS AND COULD CAUSE THE MARKET VALUE OF
    OUR COMMON STOCK TO DECLINE.
 31




---



##### Table of Contents



WE MAY EXPERIENCE REDUCTIONS IN THE LEVELS OF REIMBURSEMENT
    FOR PHARMACEUTICAL PRODUCTS BY GOVERNMENTAL AUTHORITIES, HMOS OR
    OTHER THIRD-PARTY PAYERS. ANY SUCH REDUCTIONS COULD HAVE A
    MATERIAL ADVERSE EFFECT ON OUR BUSINESS, FINANCIAL POSITION AND
    RESULTS OF OPERATIONS AND COULD CAUSE THE MARKET VALUE OF OUR
    COMMON STOCK TO DECLINE.
       32




---



##### Table of Contents



LEGISLATIVE OR REGULATORY PROGRAMS THAT MAY INFLUENCE PRICES
    OF PRESCRIPTION DRUGS COULD HAVE A MATERIAL ADVERSE EFFECT ON
    OUR BUSINESS, FINANCIAL POSITION AND RESULTS OF OPERATIONS AND
    COULD CAUSE THE MARKET VALUE OF OUR COMMON STOCK TO DECLINE.
  and/or and/or
    WE ARE INVOLVED IN VARIOUS LEGAL PROCEEDINGS AND CERTAIN
    GOVERNMENT INQUIRIES AND MAY EXPERIENCE UNFAVORABLE OUTCOMES OF
    SUCH PROCEEDINGS OR INQUIRIES, WHICH COULD HAVE A MATERIAL
    ADVERSE EFFECT ON OUR BUSINESS, FINANCIAL POSITION AND RESULTS
    OF OPERATIONS AND COULD CAUSE THE MARKET VALUE OF OUR COMMON
    STOCK TO DECLINE.
  and/or
    WE ENTER INTO VARIOUS AGREEMENTS IN THE NORMAL COURSE OF
    BUSINESS WHICH PERIODICALLY INCORPORATE PROVISIONS WHEREBY WE
    INDEMNIFY THE OTHER PARTY TO THE AGREEMENT. IN THE EVENT THAT WE
    WOULD HAVE TO PERFORM UNDER THESE INDEMNIFICATION PROVISIONS, IT
    COULD HAVE A MATERIAL ADVERSE EFFECT ON OUR BUSINESS, FINANCIAL
    POSITION AND RESULTS OF OPERATIONS AND COULD CAUSE THE MARKET
    VALUE OF OUR COMMON STOCK TO DECLINE.
    OUR FUTURE SUCCESS IS HIGHLY DEPENDENT ON OUR CONTINUED
    ABILITY TO ATTRACT AND RETAIN KEY PERSONNEL. ANY FAILURE TO
    ATTRACT AND RETAIN KEY PERSONNEL
 33




---



##### Table of Contents



COULD HAVE A MATERIAL ADVERSE EFFECT ON OUR BUSINESS,
    FINANCIAL POSITION AND RESULTS OF OPERATIONS AND COULD CAUSE THE
    MARKET VALUE OF OUR COMMON STOCK TO DECLINE.
    WE HAVE BEGUN THE IMPLEMENTATION OF AN ENTERPRISE RESOURCE
    PLANNING SYSTEM. AS WITH ANY IMPLEMENTATION OF A SIGNIFICANT NEW
    SYSTEM, DIFFICULTIES ENCOUNTERED COULD RESULT IN BUSINESS
    INTERRUPTIONS, AND COULD HAVE A MATERIAL ADVERSE EFFECT ON OUR
    BUSINESS, FINANCIAL POSITION AND RESULTS OF OPERATIONS AND COULD
    CAUSE THE MARKET VALUE OF OUR COMMON STOCK TO DECLINE.
    ANY FUTURE ACQUISITIONS OR DIVESTITURES WOULD INVOLVE A
    NUMBER OF INHERENT RISKS. THESE RISKS COULD CAUSE A MATERIAL
    ADVERSE EFFECT ON OUR BUSINESS, FINANCIAL POSITION AND RESULTS
    OF OPERATIONS AND COULD CAUSE THE MARKET VALUE OF OUR COMMON
    STOCK TO DECLINE.
      MATRIX, AN IMPORTANT PART OF OUR BUSINESS, IS LOCATED IN
    INDIA AND IT IS SUBJECT TO REGULATORY, ECONOMIC, SOCIAL AND
    POLITICAL UNCERTAINTIES IN INDIA. THESE RISKS COULD CAUSE A
    MATERIAL ADVERSE EFFECT ON OUR BUSINESS, FINANCIAL POSITION AND
    RESULTS OF OPERATIONS AND COULD CAUSE THE MARKET VALUE OF OUR
    COMMON STOCK TO DECLINE.
   34




---



##### Table of Contents



and/or
  MOVEMENTS IN FOREIGN CURRENCY EXCHANGE RATES COULD HAVE A
    MATERIAL ADVERSE EFFECT ON OUR BUSINESS, FINANCIAL POSITION AND
    RESULTS OF OPERATIONS AND COULD CAUSE THE MARKET VALUE OF OUR
    COMMON STOCK TO DECLINE.
    IF WE FAIL TO ADEQUATELY PROTECT OR ENFORCE OUR INTELLECTUAL
    PROPERTY RIGHTS, THEN WE COULD LOSE REVENUE UNDER OUR LICENSING
    AGREEMENTS OR LOSE SALES TO GENERIC COPIES OF OUR BRANDED
    PRODUCTS. THESE RISKS COULD CAUSE A MATERIAL ADVERSE EFFECT ON
    OUR BUSINESS, FINANCIAL POSITION AND RESULTS OF OPERATIONS AND
    COULD CAUSE THE MARKET VALUE OF OUR COMMON STOCK TO DECLINE.
    and/or
 35




---



##### Table of Contents



OUR SPECIALTY BUSINESS DEVELOPS, FORMULATES, MANUFACTURES AND
    MARKETS BRANDED PRODUCTS THAT ARE SUBJECT TO RISKS. THESE RISKS
    COULD CAUSE A MATERIAL ADVERSE EFFECT ON OUR BUSINESS, FINANCIAL
    POSITION AND RESULTS OF OPERATIONS AND COULD CAUSE THE MARKET
    VALUE OF OUR COMMON STOCK TO DECLINE.
    
    limited patent life;
    competition from generic products;
    reductions in reimbursement rates by third-party payors;
    importation by consumers;
    product liability;
    drug development risks arising from typically greater research
    and development investments than generics; and
    unpredictability with regard to establishing a market.    WE MUST MAINTAIN ADEQUATE INTERNAL CONTROLS AND BE ABLE, ON
    AN ANNUAL BASIS, TO PROVIDE AN ASSERTION AS TO THE EFFECTIVENESS
    OF SUCH CONTROLS. FAILURE TO MAINTAIN ADEQUATE INTERNAL CONTROLS
    OR TO IMPLEMENT NEW OR IMPROVED CONTROLS COULD HAVE A MATERIAL
    ADVERSE EFFECT ON OUR BUSINESS, FINANCIAL POSITION AND RESULTS
    OF OPERATIONS AND COULD CAUSE THE MARKET VALUE OF OUR COMMON
    STOCK TO DECLINE.
   36




---



##### Table of Contents



THERE ARE INHERENT UNCERTAINTIES INVOLVED IN ESTIMATES,
    JUDGMENTS AND ASSUMPTIONS USED IN THE PREPARATION OF FINANCIAL
    STATEMENTS IN ACCORDANCE WITH GAAP. ANY FUTURE CHANGES IN
    ESTIMATES, JUDGMENTS AND ASSUMPTIONS USED OR NECESSARY REVISIONS
    TO PRIOR ESTIMATES, JUDGMENTS OR ASSUMPTIONS OR CHANGES IN
    ACCOUNTING STANDARDS COULD LEAD TO A RESTATEMENT OR REVISION TO
    PREVIOUSLY CONSOLIDATED FINANCIAL STATEMENTS WHICH COULD HAVE A
    MATERIAL ADVERSE EFFECT ON OUR BUSINESS, FINANCIAL POSITION AND
    RESULTS OF OPERATIONS AND COULD CAUSE THE MARKET VALUE OF OUR
    COMMON STOCK TO DECLINE.
    WE ARE SUBJECT TO THE U.S. FOREIGN CORRUPT PRACTICES ACT
    AND SIMILAR WORLDWIDE ANTI-BRIBERY LAWS, WHICH IMPOSE
    RESTRICTIONS AND MAY CARRY SUBSTANTIAL PENALTIES. ANY VIOLATIONS
    OF THESE LAWS, OR ALLEGATIONS OF SUCH VIOLATIONS, COULD HAVE A
    MATERIAL ADVERSE EFFECT ON OUR BUSINESS, FINANCIAL POSITION AND
    RESULTS OF OPERATIONS AND COULD CAUSE THE MARKET VALUE OF OUR
    COMMON STOCK TO DECLINE.
    ITEM 1B.
    Unresolved
    Staff Comments    ITEM 2.
    Properties   37




---



##### Table of Contents



Primary Segment

Location

Status

Primary UseGenerics Segment

North Carolina

Owned

Distribution, WarehousingWest Virginia

Owned

Manufacturing, R&D, Warehousing, AdministrativeLeased

Warehousing, AdministrativeIllinois

Owned

Manufacturing, Warehousing, AdministrativeNew York

Leased

AdministrativeTexas

Owned

Manufacturing, WarehousingVermont

Owned

Manufacturing, R&D, Warehousing, AdministrativePennsylvania

Leased

AdministrativePuerto Rico

Owned

Manufacturing, Warehousing, AdministrativeGermany

Leased

AdministrativeFrance

Owned

WarehousingLeased

AdministrativeUnited Kingdom

Owned

Manufacturing, R&DLeased

Manufacturing, R&D, Warehousing, AdministrativeIreland

Owned

Manufacturing, R&D, Warehousing, AdministrativeLeased

Warehousing, AdministrativeSweden

Leased

AdministrativeFinland

Leased

AdministrativeDenmark

Leased

AdministrativeAustralia

Owned

Manufacturing, R&D, Distribution, Warehousing,
    AdministrativeLeased

Distribution, AdministrativeAustria

Leased

AdministrativeBelgium

Leased

AdministrativeNetherlands

Leased

Distribution, Warehousing, AdministrativeItaly

Leased

AdministrativeSouth Africa

Leased

Manufacturing, AdministrativeMorocco

Leased

AdministrativePortugal

Leased

AdministrativeSpain

Owned

ManufacturingLeased

AdministrativeGreece

Leased

AdministrativeCanada

Owned

Manufacturing, R&D, Distribution, Warehousing,
    AdministrativeLeased

Distribution, WarehousingNew Zealand

Owned

Manufacturing, R&DLeased

Manufacturing, Distribution, Warehousing, Administration 38




---



##### Table of Contents



Primary Segment

Location

Status

Primary UseJapan

Owned

Manufacturing, R&D, AdministrativeLeased

Warehousing, AdministrativeSpecialty Segment

California

Owned

Manufacturing, R&D, Warehousing, AdministrativeTexas

Leased

Distribution, WarehousingMatrix Segment

China

Owned

Manufacturing, Warehousing, AdministrativeIndia

Owned

Manufacturing, R&D, Warehousing, AdministrativeLeased

R&D, AdministrativeBelgium

Leased

R&D, Distribution, Warehousing, AdministrativeNetherlands

Leased

Distribution, Warehousing, AdministrativeLuxembourg

Leased

Warehousing, AdministrativeFrance

Leased

AdministrativeSwitzerland

Leased

AdministrativeCorporate/Other

Pennsylvania

Owned

Administrative     ITEM 3.
    Legal
    Proceedings  Legal
    Proceedings
    Omeprazole
   39




---



##### Table of Contents



Lorazepam
    and Clorazepate
    Pricing
    and Medicaid Litigation
    and/or and/or and/or and/or and/or
   40




---



##### Table of Contents



Modafinil
    Antitrust Litigation and FTC Inquiry
    Merck
    Generics Litigation
      Other
    Litigation
    ITEM 4.
    Submission
    of Matters to a Vote of Security Holders   41




---



##### Table of Contents



ITEM 5.
    Market
    for Registrants Common Equity, Related Stockholder Matters
    and Issuer Purchases of Equity Securities    Nine Months Ended
    December 31, 2007

High


LowThree months ended June 30, 2007

$
22.90


$
17.95Three months ended September 30, 2007


18.34



13.88Three months ended December 31, 2007


17.30



12.93   Fiscal Year Ended
    March 31, 2007

High


LowThree months ended June 30, 2006

$
23.73


$
19.72Three months ended September 30, 2006


23.49



18.65Three months ended December 31, 2006


22.10



19.72Three months ended March 31, 2007


22.75



19.18         Number of SecuritiesRemaining Available forNumber of Securities to be


Weighted-Average Exercise


Future Issuance UnderIssued upon Exercise of


Price of Outstanding


Equity Compensation PlansOutstanding Options,


Options, Warrants and


(excluding securities reflectedPlan Category

Warrants and Rights


Rights


in column (a))Equity compensation plans approved by security holders


21,893,772


$
15.37



10,489,164Equity compensation plans not approved by security holders










Total


21,893,772


$
15.37



10,489,164      42




---



##### Table of Contents



STOCK
    PERFORMANCE GRAPH
    
  *
    $100 invested on
    3/31/02 in
    stock or index-including reinvestment of dividends. Fiscal year
    ending December 31.  3/02


3/03


3/04


3/05


3/06


3/07


12/07Mylan Inc.



100.00




147.15




175.26




137.53




183.76




167.97




112.08S&P 500



100.00




75.24




101.66




108.47




121.19




135.52




142.06Dow Jones US Pharmaceuticals



100.00




81.36




86.55




80.77




82.37




91.59




95.42  43




---



##### Table of Contents



PART II  ITEM 6.
    Selected
    Financial Data  Form 10-K.
  Nine Months
    Ended(1)


Fiscal Year Ended March 31,December 31, 2007


2007(2)


2006


2005


2004(in thousands, except share and per share amounts)Statements of Operations:Total revenues

$
2,178,761


$
1,611,819


$
1,257,164


$
1,253,374


$
1,374,617Cost of sales


1,304,313



768,151



629,548



629,834



612,149Gross profit


874,448



843,668



627,616



623,540



762,468Operating expenses:Research and development


146,063



103,692



102,431



88,254



100,813Acquired in-process research and development


1,269,036



147,000











Selling, general and administrative


449,598



215,538



225,380



259,105



201,612Litigation settlements, net


(1,984
)


(50,116
)


12,417



(25,990
)


(34,758
)(Loss) earnings from operations


(988,265
)


427,554



287,388



302,171



494,801Interest expense


179,410



52,276



31,285







Other income, net


86,611



50,234



18,502



10,076



17,807(Loss) earnings before income taxes and minority interest


(1,081,064
)


425,512



274,605



312,247



512,608Provision for income taxes


60,073



208,017



90,063



108,655



177,999Minority interest


(3,112
)


211











Net (loss) earnings


(1,138,025
)


217,284



184,542



203,592



334,609Preferred dividends


15,999















Net (loss) earnings available to common shareholders

$
(1,154,024
)

$
217,284


$
184,542


$
203,592


$
334,609Selected Balance Sheet data:Total assets

$
11,353,176


$
4,253,867


$
1,870,526


$
2,135,673


$
1,885,061Working capital


1,056,950



1,711,509



926,650



1,282,945



1,144,073Short-term borrowings


144,355



108,259











Long-term debt


4,706,716



1,654,932



685,188







Total shareholders equity


3,403,426



1,648,860



787,651



1,845,936



1,659,788Per common share data:Net (loss) earnings available to common shareholdersBasic

$
(4.49
)

$
1.01


$
0.80


$
0.76


$
1.24Diluted

$
(4.49
)

$
0.99


$
0.79


$
0.74


$
1.21Cash dividends declared and paid

$
0.06


$
0.24


$
0.24


$
0.12


$
0.10Weighted average common shares outstanding:Basic


257,150



215,096



229,389



268,985



268,931Diluted


257,150



219,120



234,209



273,621



276,318     (1)
    
    The nine months ended December 31, 2007 includes the
    results of the Merck Generics acquisition from October 2,
    2007. In addition to the write-off of acquired in-process
    research and development ($1.27 billion), 44




---



##### Table of Contents



cost of sales includes approximately $148.9 million related
    to the amortization of purchased intangibles and the
    amortization of the inventory
    step-up
    associated with the Merck Generics and Matrix acquisition.(2)
    
    Fiscal 2007 includes the results of the Matrix acquisition from
    January 8, 2007. In addition to the write-off of acquired
    in-process research and development ($147.0 million), cost
    of sales includes approximately $17.6 million related to
    the amortization of intangibles and the inventory
    step-up
    associated with the acquisition. Fiscal 2007 also includes
    $22.2 million of stock-based compensation expense from the
    adoption of SFAS No. 123 (revised 2004), Share-Based
    Payment (SFAS No. 123R) on April 1,
    2006.  ITEM 7.
    Managements
    Discussion and Analysis of Financial Condition and Results of
    Operations    Form 10-K.
  Executive
    Overview
    Change in
    Fiscal Year
    
    Transition Period or current
    period  April 1, 2007 through
    December 31, 2007.
    comparable nine-month period or prior
    period  April 1, 2006 through
    December 31, 2006
    fiscal 2007  April 1, 2006 through
    March 31, 2007.
    fiscal 2006  April 1, 2005 through
    March 31, 2006.
    fiscal 2005  April 1, 2004 through
    March 31, 2005.   45




---



##### Table of Contents



Acquisition
    of Generics Business of Merck KGaA
  Business Combinations,
  Liquidity and Capital
    Resources
  Segments
  Disclosures about Segments of an Enterprise and Related
    Information
  step-up
  Equity
    Offerings
  Liquidity and Capital Resources
      Product
    Opportunities
  ®
 46




---



##### Table of Contents



and/or
  ® 180-day
  Strategic
    Initiatives
      Financial
    Summary
      Transition
    Period:
  
    The write-off of acquired in-process research and development
    related to the Merck Generics acquisition in the amount of
    $1.27 billion (pre-tax and after-tax);
    Charges totaling $57.2 million (pre-tax) related to early
    repayment of certain debt and financing fees; 47




---



##### Table of Contents




    Net gains of $85.0 million (pre-tax) on foreign currency
    exchange contracts, primarily a foreign currency option contract
    related to the purchase price for the Merck Generics acquisition;
    Amortization expense related to intangible assets related to the
    Merck Generics and Matrix acquisitions of $100.7 million
    (pre-tax);
    Amortization of the inventory
    step-up
    related to the Merck Generics and Matrix acquisitions of
    $44.4 million (pre-tax); and
    A $16.0 million (pre-tax and after-tax) dividend on the
    6.50% mandatory convertible preferred stock.  Comparable
    Nine-Month Period:
  
    Net gains from the settlement of litigation in the amount of
    $46.2 million (pre-tax); and
    A gain on a foreign currency exchange forward contract related
    to the acquisition of Matrix in the amount of $17.5 million
    (pre-tax).  Results
    of Operations
  Results
    of Operations
  Transition
    Period Ended December 31, 2007, Compared to Comparable
    Nine-Month Period Ended December 31, 2006
  Total
    Revenues and Gross Profit
    ®
  Application of Critical
    Accounting Policies
  step-up
   48




---



##### Table of Contents



Generics
    Segment
      ®
               49




---



##### Table of Contents



Specialty
    Segment
          Matrix
    Segment
      Operating
    Expenses
       50




---



##### Table of Contents



Litigation,
    net
    Interest
    Expense
  Liquidity and Capital Resources
  Other
    Income, net
        Income
    Tax Expense
    Fiscal
    2007 Compared to Fiscal 2006
  Total
    Revenues and Gross Profit
   51




---



##### Table of Contents



®
      step-up
    Operating
    Expenses
   52




---



##### Table of Contents



Litigation,
    net
    Interest
    Expense
    Other
    Income, net
    Income
    Tax Expense
    Liquidity
    and Capital Resources
   53




---



##### Table of Contents



54




---



##### Table of Contents



55




---



##### Table of Contents



56




---



##### Table of Contents



Contractual
    Obligations
    Less than


One-Three


Three-FiveTotal


One Year


Years


Years


ThereafterOperating leases

$
69,157


$
18,446


$
33,488


$
7,532


$
9,691Total debt


4,812,094



105,378



496,153



1,080,889



3,129,674Scheduled interest payments


2,104,779



368,344



1,045,701



595,351



95,383Preferred stock dividends


401,106



139,035



262,071







Revolving credit facility


300,000



300,000











$
7,687,136


$
931,203


$
1,837,413


$
1,683,772


$
3,234,748    57




---



##### Table of Contents



and/or
      Impact of
    Currency Fluctuations and Inflation
    Application
    of Critical Accounting Policies
     58




---



##### Table of Contents



Net
    Revenue Provisions
      Balances Acquired





Current Provisionthrough the


Checks/Credits


Related to Sales


Effects ofBalance at


Acquisition of


Issued to


Made in the


Foreign


Balance at3/31/2007


Merck Generics


Third Parties


Current Period


Exchange


12/31/2007(In thousands)Chargebacks

$
208,962


$
9,620


$
(1,029,169
)

$
1,012,799


$
(342
)

$
201,870Customer performance and promotions

$
73,222


$
65,550


$
(219,528
)

$
199,705


$
398


$
119,348Returns

$
49,576


$
34,212


$
(35,774
)

$
38,328


$
57


$
86,399       Price Adjustments
  Returns
 59




---



##### Table of Contents



case-by-case
  Chargebacks
  Intangible
    Assets and Goodwill
       60




---



##### Table of Contents



and/or
    Income
    Taxes
  Accounting for Uncertainty in Income Taxes 
    an Interpretation of FASB Statement 109
      Legal
    Matters
    Recent
    Accounting Pronouncements
  Noncontrolling Interests in Consolidated Financial
    Statements  an amendment of ARB No. 51,
 61




---



##### Table of Contents



Business Combinations
  Fair Value Measurements No. FAS 157-2, Effective Date of FASB Statement
    No. 157
  The
    Fair Value Option for Financial Assets and Financial Liabilities
  No. 07-3, Accounting for Nonrefundable Advance Payments for Goods or
    Services to Be Used in Future Research and Development
    Activities (EITF 07-3). EITF 07-3 EITF 07-3 EITF 07-3
  paid-in-capital
 62




---



##### Table of Contents



ITEM 7A.
    Quantitative
    and Qualitative Disclosures about Market Risk    Liquidity and Capital Resources
  Foreign
    Exchange Risk
        Accounting for
    Derivative Instruments and Hedging Activities
    
    foreign currency forward-exchange contracts  net
    present values
    foreign currency denominated receivables, payables, debt and
    loans  changes in exchange rates    Note 9. Financial
    Instruments and Risk Management
  Interest
    Rate Risk
   63




---



##### Table of Contents



Note 10. Long-Term Debt
      Available
    for Sale Securities
      Long-Term
    Debt
     64




---



##### Table of Contents



ITEM 8.
    Financial
    Statements and Supplementary Data  Index to
    Consolidated Financial Statements and
    Supplementary Financial Information
  PageConsolidated Balance Sheets as of
    December 31, 2007 and March 31, 2007


66Consolidated Statements of Operations for the
    Nine Months Ended December 31, 2007, and Fiscal Years Ended
    March 31, 2007 and 2006


67Consolidated Statements of Shareholders
    Equity for the Nine Months Ended December 31, 2007, and
    Fiscal Years Ended March 31, 2007 and 2006


68Consolidated Statements of Cash Flows for the
    Nine Months Ended December 31, 2007, and Fiscal Years Ended
    March 31, 2007 and 2006


70Notes to Consolidated Financial Statements


71Managements Report on Internal Control over
    Financial Reporting


106Reports of Independent Registered Public
    Accounting Firm


107Supplementary Financial Information


110  65




---



##### Table of Contents



Mylan
    Inc.
 Consolidated Balance Sheets
   December 31,
    2007


March 31, 2007AssetsCurrent assets:Cash and cash equivalents

$
484,202


$
1,252,365Available for sale securities


91,361



174,207Accounts receivable, net


1,132,121



350,294Inventories


1,063,840



429,111Deferred income tax benefit


192,113



145,343Prepaid expenses and other current assets


95,664



60,724Total current assets


3,059,301



2,412,044Property, plant and equipment, net


1,102,932



686,739Intangible assets, net


2,978,706



352,780Goodwill


3,855,971



612,742Deferred income tax benefit


18,703



45,779Other assets


337,563



143,783Total assets

$
11,353,176


$
4,253,867Liabilities and shareholders equityLiabilitiesCurrent liabilities:Trade accounts payable

$
643,873


$
160,286Short-term borrowings


144,355



108,259Income taxes payable


133,715



78,387Current portion of long-term debt and other long-term obligations


410,934



124,782Other current liabilities


669,474



228,821Total current liabilities


2,002,351



700,535Deferred revenue


122,870



90,673Long-term debt


4,706,716



1,654,932Other long-term obligations


206,672



29,760Deferred income tax liability


876,816



85,900Total liabilities


7,915,425



2,561,800Minority interest


34,325



43,207Shareholders equityPreferred stock  par value $0.50 per shareShares authorized: 5,000,000 as of December 31, 2007 and
    March 31, 2007, respectivelyShares issued: 2,139,000 and 0 as of December 31, 2007 and
    March 31, 2007, respectively


1,070



Common stock  par value $0.50 per shareShares authorized: 600,000,000 as of December 31, 2007 and
    March 31, 2007, respectivelyShares issued: 395,260,355 and 339,361,201 as of
    December 31, 2007 and March 31, 2007, respectively


197,630



169,681Additional paid-in capital


3,785,729



962,746Retained earnings


922,857



2,103,282Accumulated other comprehensive earnings


83,044



1,5444,990,330



3,237,253Less treasury stock  at costShares: 90,885,188 and 90,948,957 as of December 31, 2007
    and March 31, 2007, respectively


1,586,904



1,588,393Total shareholders equity


3,403,426



1,648,860Total liabilities and shareholders equity

$
11,353,176


$
4,253,867   See Notes to Consolidated Financial Statements
 66




---



##### Table of Contents



Mylan
    Inc.
 Consolidated Statements of Operations
   Nine Months Ended


Fiscal Year Ended March 31,December 31,
    2007


2007


2006RevenuesNet revenues

$
2,162,943


$
1,586,947


$
1,240,011Other revenues


15,818



24,872



17,153Total revenues


2,178,761



1,611,819



1,257,164Cost of sales


1,304,313



768,151



629,548Gross profit


874,448



843,668



627,616Operating expenses:Research and development


146,063



103,692



102,431Acquired in-process research and development


1,269,036



147,000



Selling, general and administrative


449,598



215,538



225,380Litigation settlements, net


(1,984
)


(50,116
)


12,417Total operating expenses


1,862,713



416,114



340,228(Loss) earnings from operations


(988,265
)


427,554



287,388Interest expense


179,410



52,276



31,285Other income, net


86,611



50,234



18,502(Loss) earnings before income taxes and minority interest


(1,081,064
)


425,512



274,605Provision for income taxes


60,073



208,017



90,063(Loss) earnings before minority interest


(1,141,137
)


217,495



184,542Minority Interest


(3,112
)


211



Net (loss) earnings before preferred dividends


(1,138,025
)


217,284



184,542Preferred dividends


15,999







Net (loss) earnings available to common shareholders

$
(1,154,024
)

$
217,284


$
184,542Earnings per common share:Basic

$
(4.49
)

$
1.01


$
0.80Diluted

$
(4.49
)

$
0.99


$
0.79Weighted average common shares outstanding:Basic


257,150



215,096



229,389Diluted


257,150



219,120



234,209   See Notes to Consolidated Financial Statements
 67




---



##### Table of Contents



Mylan
    Inc.
 Consolidated Statements of Shareholders
    Equity
   Nine Months Ended


Fiscal Year Ended March 31,December 31, 2007


2007


2006Preferred stock  shares issued:Shares at beginning of year










Issuance of preferred stock


2,139,000







Shares at end of year


2,139,000







Common stock  shares issued:Shares at beginning of year


339,361,201



309,150,251



304,434,724Issuance of common stock


55,440,000



26,162,500



Stock options exercised, net of shares tendered for payment


459,154



4,048,450



4,715,527Shares at end of year


395,260,355



339,361,201



309,150,251Treasury stock:Shares at beginning of year


(90,948,957
)


(98,971,431
)


(35,129,643
)Issuance of restricted stock, net of shares withheld


63,769



(35,665
)


35,463Shares issued for the acquisition of Matrix






8,058,139



Stock purchases










(63,877,251
)Shares at end of year


(90,885,188
)


(90,948,957
)


(98,971,431
)Common shares outstanding


304,375,167



248,412,244



210,178,820Preferred stock, $0.50 par:Balance at beginning of year

$



$



$
Issuance of preferred stock, net


1,070







Balance at end of year


1,070







Common stock, $0.50 par:Balance at beginning of year


169,681



154,575



152,217Issuance of common stock, net


27,720



13,081



Stock options exercised


229



2,025



2,358Balance at end of year


197,630



169,681



154,575Additional paid-in capital:Balance at beginning of year


962,746



418,954



354,172Issuance of common stock, net


720,331



476,015



Issuance of preferred stock, net


2,072,816







Sale of warrants






45,360



Shares issued for the acquisition of Matrix






23,045



Purchase of bond hedge, net of tax of $44,100






(81,900
)


Stock options exercised


7,503



47,242



54,531Issuance of restricted stock, net of shares withheld


(1,485
)


(2,526
)


181Unearned compensation










3,142Stock-based compensation expense


17,332



22,156



Tax benefit of stock option plans


5,648



14,419



7,221Other


838



(19
)


(293
)Balance at end of year


3,785,729



962,746



418,954Retained earnings:Balance at beginning of year


2,103,282



1,939,045



1,808,802Net earnings


(1,138,025
)


217,284



184,542Adoption of FIN 48, net of tax


(11,478
)Dividends on preferred shares


(15,999
)Dividends declared ($0.06 per share for the nine months ended
    December 31, 2007 and $0.24 per share for fiscal year ended
    2007 and 2006)


(14,923
)


(53,047
)


(54,299
)Balance at end of year


922,857



2,103,282



1,939,045  See Notes to Consolidated Financial Statements
 68




---



##### Table of Contents



Mylan
    Inc.
 Consolidated Statements of Shareholders Equity
    (continued)
   Nine Months Ended


Fiscal Year Ended March 31,December 31, 2007


2007


2006Accumulated other comprehensive earnings:Balance at beginning of year


1,544



2,450



870Adjustment to initially adopt SFAS No. 158, net of tax
    of $751






(1,272
)


Change in unrecognized losses and prior service cost related to
    post-retirement plans, net of tax


(663
)






Foreign currency translation adjustment


87,602



1,266



Net unrecognized losses on derivatives, net of tax


(4,723
)






Net unrealized (loss) gain on marketable securities, net of tax


(716
)


(900
)


1,580Balance at end of year


83,044



1,544



2,450Treasury stock, at cost:Balance at beginning of year


(1,588,393
)


(1,727,373
)


(470,125
)Issuance of restricted stock, net of shares withheld


1,489



(1,716
)


619Shares issued for the acquisition of Matrix






140,696



Stock purchases










(1,257,867
)Balance at end of year


(1,586,904
)


(1,588,393
)


(1,727,373
)Total shareholders equity

$
3,403,426


$
1,648,860


$
787,651Comprehensive (loss) earnings:Net (loss) earnings

$
(1,138,025
)

$
217,284


$
184,542Other comprehensive (loss) earnings, net of tax:Net unrealized holding gains (losses) gains on securities, net
    of tax


(525
)


(1,569
)


1,397Reclassification for (gains) losses included in net earnings


(191
)


669



183Net unrecognized losses on derivatives, net of tax


(4,723
)






Change in unrecognized losses and prior service cost related to
    post-retirement plans, net of tax


(663
)






Foreign currency translation adjustment


87,602



1,266



Other comprehensive earning, net of tax


81,500



366



1,580Total comprehensive (loss) earnings

$
(1,056,525
)

$
217,650


$
186,122   See Notes to Consolidated Financial Statements
 69




---



##### Table of Contents



Mylan
    Inc.
 Consolidated Statements of Cash Flows
   Nine Months Ended


Fiscal Year Ended March 31,December 31, 2007


2007


2006Cash flows from operating activities:Net (loss) earnings

$
(1,138,025
)

$
217,284


$
184,542Adjustments to reconcile net earnings to net cash provided from
    operating activities:Depreciation and amortization


157,800



61,512



46,827Stock-based compensation expense


17,332



22,156



Minority interest


(3,112
)


211



In-process research and development


1,269,036



147,000



Net (income) loss from equity method investees


(2,573
)


(6,659
)


2,538Gain of foreign exchange contracts


(85,063
)






Change in estimated sales allowances


31,337



14,386



41,047Restructuring provision










20,921Deferred income tax benefit


(77,131
)


(50,479
)


(23,635
)Other non-cash items


54,408



7,914



15,768Litigation settlements, net


(4,526
)


6,464



14,108Cash received from Somerset






5,870



Changes in operating assets and liabilities:Accounts receivable


(124,385
)


(60,773
)


19,081Inventories


16,305



(28,987
)


6,012Trade accounts payable


86,467



(29,312
)


20,534Income taxes


(34,632
)


73,567



(23,821
)Deferred revenue


34,864



(5,504
)


106,642Other operating assets and liabilities, net


(30,413
)


15,542



(14,003
)Net cash provided by operating activities


167,689



390,192



416,561Cash flows from investing activities:Capital expenditures


(110,538
)


(161,851
)


(103,689
)Acquisitions, net of cash acquired


(7,001,930
)


(761,049
)


Purchase of available for sale securities


(275,802
)


(655,948
)


(686,569
)Proceeds from sale of available for sale securities


357,922



848,520



991,060Other items, net


(4,976
)


(407
)


(5,710
)Net cash (used in) provided by investing activities


(7,035,324
)


(730,735
)


195,092Cash flows from financing activities:Cash dividends paid


(29,825
)


(50,751
)


(49,772
)Payment of financing fees


(89,538
)


(15,329
)


(14,662
)Proceeds from the issuance of preferred stock, net


2,073,886







Change in short-term borrowing, net


26,240







Excess tax benefit from stock-based compensation


2,171



4,158



Proceeds from issuance of common stock, net


748,051



657,678



Purchase of bond hedge






(126,000
)


Proceeds from issuance of warrants






45,360



Proceeds from issuance of long-term debt


7,701,240



1,556,251



775,000Payment of long-term debt


(4,389,183
)


(689,938
)


(87,062
)Purchase of common stock










(1,257,867
)Proceeds from exercise of stock options


7,732



49,824



56,889Change in outstanding checks in excess of cash disbursements
    accounts


18,008



10,403



(21,788
)Other items, net






1,160



Net cash provided by (used in) financing activities


6,068,782



1,442,816



(599,262
)Effect on cash of changes in exchange rates


30,690



(32
)


Net (decrease) increase in cash and cash equivalents


(768,163
)


1,102,241



12,391Cash and cash equivalents  beginning of year


1,252,365



150,124



137,733Cash and cash equivalents  end of year

$
484,202


$
1,252,365


$
150,124Supplemental disclosures of cash flow information:Cash paid during the year for:Income taxes

$
179,092


$
176,353


$
137,519Interest

$
174,034


$
59,996


$
29,110   See Notes to Consolidated Financial Statements
 70




---



##### Table of Contents



Mylan
    Inc.
 Notes to
    Consolidated Financial Statements  Note 1.
    Nature of
    Operations      Form 10-K Form 10-K
  Note 2.
    Summary
    of Significant Accounting Policies  Principles of Consolidation.
  Disclosures about Segments
    of an Enterprise and Related Information
  Cash and Cash Equivalents.
  Available for Sale Securities.
  Concentrations of Credit Risk.
 71




---



##### Table of Contents



Inventories. first-in,
  Property, Plant and Equipment.
  Intangible Assets and Goodwill.
      Impairment of Long-Lived Assets.
      Other Assets.
 72




---



##### Table of Contents



Short-Term Borrowings.
  Revenue Recognition.
               73




---



##### Table of Contents



Revenue Recognition, corrected copy
    (SAB No. 104), No. 00-21, Revenue Arrangements with Multiple Deliverables.
        Research and Development.
  Income Taxes.
  (Loss) Earnings per Common Share.
  trading-day
 74




---



##### Table of Contents



Nine Months EndedDecember 31,


Fiscal Year Ended March 31,2007


2007


2006(in thousands, except share and per share amounts)Basic and diluted (loss) earnings available to common
    shareholders (numerator):Net (loss) earnings

$
(1,138,025
)

$
217,284


$
184,542Preferred stock dividends


15,999







Net (loss) earnings available to common shareholders

$
(1,154,024
)

$
217,284


$
184,542Shares (denominator):Weighted average shares outstanding


257,150



215,096



229,389Dilutive securities:Stock-based awards






4,024



4,820Preferred stock










Total dilutive shares outstanding assuming conversion


257,150



219,120



234,209(Loss) earnings per common share:Basic

$
(4.49
)

$
1.01


$
0.80Diluted

$
(4.49
)

$
0.99


$
0.79     Stock Options. Share-Based Payment Accounting for Stock Issued to Employees Accounting for Share Based
    Compensation
   75




---



##### Table of Contents



Fiscal Year Ended March
    31,

2006(in thousands, except per share amounts)Net earnings, as reported

$
184,542Add:     Stock-based compensation
    expense included in reported net earnings, net of related tax
    effects


2,649Deduct:  Total compensation expense determined under
    fair-value based method for all stock awards, net of related tax
    effects


(11,845
)Pro forma net earnings

$
175,346Earnings per share:Basic  as reported

$
0.80Basic  pro forma

$
0.76Diluted  as reported

$
0.79Diluted  pro forma

$
0.75   Foreign Currencies.
  Derivatives. Accounting for Derivative Instruments and Hedging
    Activities
  Financial Instruments.
    Use of Estimates in the Preparation of Financial
    Statements.
 76




---



##### Table of Contents



Recent Accounting Pronouncements. Noncontrolling Interests in Consolidated Financial
    Statements  an amendment of ARB No. 51,
  Business Combinations
  The
    Fair Value Option for Financial Assets and Financial Liabilities
  Fair Value Measurements No. FAS 157-2, Effective Date of FASB Statement
    No. 157,
  paid-in-capital
 77




---



##### Table of Contents



No. 07-3, Accounting for Nonrefundable Advance Payments for Goods or
    Services to Be Used in Future Research and Development
    Activities (EITF 07-3). EITF 07-3 EITF 07-3 EITF 07-3
  Note 3. Acquisitions
  Acquisition
    of Merck Generics
    Business
    Combinations
  (in thousands)Current assets (excluding inventories)

$
765,495Inventories


645,449Property, plant and equipment,
    net(4)


344,454Identified intangible assets


2,654,163Other non-current
    assets(2)


140,015In-process research and
    development(1)


1,269,036Goodwill


3,166,005Total assets acquired


8,984,617Current
    liabilities(3)


(820,444
)Deferred tax liabilities


(1,020,040
)Other non-current liabilities


(142,203
)Net assets acquired

$
7,001,930     (1)
    
    The amount allocated to acquired in-process research and
    development represents an estimate of the fair value of
    purchased in-process technology for research projects that, as
    of the closing date of the acquisition, had not reached
    technological feasibility and had no alternative future use. The
    fair value of the acquired in-process technology and research
    projects was based on the excess earnings method on a
    project-by-project
    basis. This amount was written-off upon acquisition as acquired
    in-process research and development expense. 78




---



##### Table of Contents



(2)
    
    Included in non-current assets is $137.1 million of
    receivables for the agreement of Merck KGaA under the terms of
    the acquisition to indemnify Mylan for certain acquired
    significant litigation and tax liabilities (see Note 17).(3)
    
    Included in current liabilities are $74.3 million of
    restructuring reserves that impacted goodwill. These estimated
    exit costs are associated with involuntary termination benefits
    for Merck Generics employees and costs to exit certain
    activities of Merck Generics and were recorded as a liability in
    conjunction with recording the initial purchase price. At
    December 31, 2007, the plans related to these exit
    activities have not been finalized. There may still be
    additional exit costs incurred.(4)
    
    Included in property, plant and equipment are $36.4 million
    of asset writedowns that have impacted goodwill. These costs
    relate to adjusting equipment and buildings down to their
    expected residual value upon their sale or closure.        Acquisition
    of Matrix Laboratories Limited
         79




---



##### Table of Contents



(in thousands)Current assets (excluding cash and inventories)

$
129,621Inventories


123,000Property, plant and equipment, net


152,580Identified intangible assets


270,440Other non-current assets


65,878In-process research and
    development(1)


147,000Goodwill


505,801Total assets acquired


1,394,320Current liabilities


(374,458
)Deferred tax liabilities


(106,470
)Other non-current liabilities


(104,045
)Total liabilities assumed


(584,973
)Total minority interest


(44,117
)Net assets acquired

$
765,230     (1)
    
    The amount allocated to acquired in-process research and
    development represents an estimate of the fair value of
    purchased in-process technology for research projects that, as
    of the closing date of the acquisition, had not reached
    technological feasibility and had no alternative future use.   80




---



##### Table of Contents



Pro forma
    financial results
    step-up step-up
  Nine Months Ended


Fiscal Year EndedDecember 31,
    2007


March 31, 2007Unaudited


Unaudited(in thousands, except per share data)Total revenues

$
3,428,231


$
4,197,786Net (loss) earnings before preferred dividend


(1,290,242
)


(1,311,466
)Preferred dividend


(104,276
)


(121,656
)Net (loss) earnings available to common shareholders

$
(1,394,518
)

$
(1,433,122
)Earnings per common shareBasic

$
(4.91
)

$
(5.35
)Diluted

$
(4.91
)

$
(5.35
)Weighted average sharesBasic


283,900



267,984Diluted


283,900



267,984   Note 4.
    Restructuring     81




---



##### Table of Contents



Note 5.
    Comparative
    Nine-Month Financial Information    Mylan
    Inc.
  Consolidated
    Statements of Operations
  Nine Months Ended December
    31,

2007


2006(Unaudited)(in thousands, except per share amounts)RevenuesNet revenues

$
2,162,943


$
1,103,247Other revenues


15,818



21,310Total revenues


2,178,761



1,124,557Cost of sales


1,304,313



515,736Gross profit


874,448



608,821Operating expenses:Research and development


146,063



66,844Acquired in-process research and development


1,269,036



Selling, general and administrative


449,598



152,784Litigation settlements, net


(1,984
)


(46,154
)Total operating expenses


1,862,713



173,474(Loss) earnings from operations


(988,265
)


435,347Interest expense


179,410



31,292Other income, net


86,611



39,785(Loss) earnings before income taxes and minority interest


(1,081,064
)


443,840Provision for income taxes


60,073



155,267(Loss) earnings before minority interest


(1,141,137
)


288,573Minority Interest


(3,112
)


Net (loss) earnings before preferred dividends


(1,138,025
)


288,573Preferred dividend


15,999



Net (loss) earnings available to common shareholders

$
(1,154,024
)

$
288,573(Loss) earnings per common share:Basic

$
(4.49
)

$
1.37Diluted

$
(4.49
)

$
1.34Weighted average common shares outstanding:Basic


257,150



211,075Diluted


257,150



215,275  82




---



##### Table of Contents



Note 6.
    Balance
    Sheet Components    December 31,


March 31,2007


2007(in thousands)Inventories:Raw materials

$
255,744


$
148,109Work in process


160,918



95,655Finished goods


647,178



185,347$
1,063,840


$
429,111Property, plant and equipment:Land and improvements

$
62,824


$
29,850Buildings and improvements


583,097



297,505Machinery and equipment


980,340



471,990Construction in progress


125,682



141,3011,751,943



940,646Less accumulated depreciation


649,011



253,907$
1,102,932


$
686,739   Note 7.
    Available
    for Sale Securities    Gross


GrossAmortized


Unrealized


Unrealized


FairCost


Gains


Losses


Value(in thousands)December 31, 2007Debt securities

$
88,806


$
434


$
315


$
88,925Equity securities






2,436







2,436$
88,806


$
2,870


$
315


$
91,361March 31, 2007Debt securities

$
171,862


$
151


$
465


$
171,548Equity securities






2,659







2,659$
171,862


$
2,810


$
465


$
174,207       (in thousands)Mature within one year

$
7,030Mature in one to five years


10,729Mature in five years and later


71,166$
88,925  83




---



##### Table of Contents



Note 8.
    Goodwill
    and Other Intangible Assets    Total(in thousands)Goodwill balance at March 31, 2007

$
612,742Acquisition of Merck Generics


3,166,005Foreign currency translation and other


77,224Goodwill balance at December 31, 2007

$
3,855,971   TotalGoodwill balance at March 31, 2006

$
102,579Acquisition of Matrix


505,801Foreign currency translation and other


4,362Goodwill balance at March 31, 2007

$
612,742     Effects ofWeighted








ForeignAverage Life


Original


Accumulated


Currency


Net Book(years)


Cost


Amortization


Translation


Value(in thousands)December 31, 2007Amortized intangible assets:Patents and technologies


20


$
118,926


$
65,578


$



$
53,348Product rights and licenses


10



2,987,174



152,865



(25,462
)


2,808,847Other intangibles


8



130,060



12,520



(1,029
)


116,511$
3,236,160


$
230,963


$
(26,491
)

$
2,978,706March 31, 2007Amortized intangible assets:Patents and technologies


20


$
118,927


$
61,000


$



$
57,927Product rights and licenses


8



367,805



86,349







281,456Other intangibles


14



21,604



8,207







13,397$
508,336


$
155,556


$



$
352,780    84




---



##### Table of Contents



Note 9.
    Financial
    Instruments and Risk Management  Foreign
    Exchange Risk
        
    875.4 million ($1.23 billion) of borrowings
    under the Senior Credit Agreement (Note 10) that is
    designated as a hedge of our net investment in certain
    Euro-functional currency subsidiaries. The after-tax impact of
    revaluing these borrowings due to changes in spot exchange rates
    is included in the Cumulative Translation Adjustment Component
    of Other Comprehensive (Loss) Earnings in the Consolidated
    Statement of Shareholders Equity.
    $345.6 million notional value of foreign exchange forward
    contracts maturing within one month that serve to offset changes
    in spot exchange rates of intercompany foreign currency
    denominated assets or liabilities. We recognize the earnings
    impact of these contracts in Other income, net in the
    Consolidated Statement of Operations during the terms of the
    contracts, along with the earnings impact of the items they
    generally offset.     85




---



##### Table of Contents



Interest
    Rate Risk
        Note 10.
    Long-Term
    Debt    December 31,
    2007


March 31, 2007(in thousands)Senior
    Notes(A)

$
2,715


$
500,000Credit
    Facilities(B)






450,000U.S. Tranche A Term
    Loans(B)


312,500



Euro Tranche A Term
    Loans(B)


516,127



U.S. Tranche B Term
    Loans(B)


2,556,000



Euro Tranche B Term
    Loans(B)


773,273



Revolving
    Facility(B)


300,000



Senior convertible
    notes(C)


600,000



600,000Other(D)


51,479



226,362$
5,112,094


$
1,776,362Less: Current portion


405,378



121,430Total long-term debt

$
4,706,716


$
1,654,932     (A)
    
    On August 31, 2007, the Company launched tender offers to
    purchase for cash any and all of its outstanding
    5.750% Senior Notes due 2010 (the 2010 Notes)
    and 6.375% Senior Notes due 2015 (the 2015
    Notes and collectively the Senior Notes) as
    well as consent solicitations to eliminate various affirmative
    and negative covenants and events of default contained in the
    indentures for the Senior Notes, pursuant to the terms of the
    Offer to Purchase and Consent Solicitation Statement and related
    Letter of Instructions (the Offer to Purchase). The
    holders of the Senior Notes could not tender their Senior Notes
    without delivering their consent and could not deliver a consent
    without tendering their Senior Notes. The tender offers and
    solicitations were made as part of a broader strategy to
    establish its new global capital structure related to the
    acquisition of Merck Generics.   86




---



##### Table of Contents



(B)
    
    The Credit Facilities were repaid in conjunction with the
    closing of the Merck Generics acquisition.       87




---



##### Table of Contents



88




---



##### Table of Contents



(C)
    
    On March 1, 2007, Mylan entered into a purchase agreement
    relating to the sale by the Company of $600.0 million
    aggregate principal amount of the Companys
    1.25% Senior Convertible Notes due 2012 (the
    Convertible Notes). The Convertible Notes bear
    interest at a rate of 1.25% per year, accruing from
    March 7, 2007. Interest is payable semiannually in arrears
    on March 15 and September 15 of each year, beginning
    September 15, 2007. The Convertible Notes will mature on
    March 15, 2012, subject to earlier repurchase or
    conversion. Holders may convert their notes subject to certain
    conversion provisions determined by, among others, the market
    price of the Companys common stock and the trading price
    of the Convertible Notes. The Convertible Notes have an initial
    conversion rate of 44.5931 shares of common stock per
    $1,000 principal amount (equivalent to an initial conversion
    price of approximately $22.43 per share), subject to adjustment,
    with the principal amount payable in cash and the remainder in
    cash or stock at the option of the Company.     89




---



##### Table of Contents



( , Accounting for
    Certain Derivative Instruments and Certain Hedging Activities Amendment of Statement 133 on
    Derivative Instruments and Hedging Activities No. 01-6, The Meaning of Indexed to a Companys Own Stock No. 00-19, Accounting for Derivative Financial Instruments Indexed to,
    and Potentially Settled in, a Companys Own Stock
  (D)
    
    Other debt consists primarily of Matrixs borrowings
    consisted primarily of two Euro-denominated Facilities
    (Facility A and Facility B). On
    July 5, 2007, Facility A was repaid in the amount of
    82.5 ($117.8) million. Matrixs effective
    interest rate for Facility B was EURIBO plus 129 basis
    points, or 5.861% at December 31, 2007. Facility B is
    payable over three years in semi-annual installments beginning
    in October 2007. On September 30, 2007, Matrix paid
    50.0 ($73.6) million on Facility B reducing the
    principal amount of the loan to 32.5 ($47.9) million.
    On October 5, 2007, in accordance with the terms of
    Facility B, Matrix paid 8.0 ($11.8) million reducing
    the principal amount of the loan to 24.5
    ($36.1) million.            (in thousands)December 31,2008

$
405,3782009


137,0222010


160,1172011


199,0142012


840,445Thereafter


3,370,118$
5,112,094  90




---



##### Table of Contents



Note 11.
    Income
    Taxes    Nine Months Ended


Fiscal Year Ended March 31,December 31,
    2007


2007


2006(in thousands)Federal:Current

$
101,659


$
242,434


$
104,204Deferred


(29,343
)


(46,593
)


(22,359
)72,316



195,841



81,845State and Puerto Rico:Current


9,598



16,746



9,494Deferred


1,903



(3,740
)


(1,276
)11,501



13,006



8,218Foreign:Current


23,413



174



Deferred


(47,157
)


(1,004
)


(23,744
)


(830
)


Income taxes

$
60,073


$
208,017


$
90,063Pre-tax (loss) earningsDomestic

$
(413,886
)

$
586,298


$
274,605Foreign


(667,178
)


(160,786
)


Total

$
(1,081,064
)

$
425,512


$
274,605Effective tax rate


(5.6
)%


48.9
%


32.8
%  91




---



##### Table of Contents



Nine Months EndedDecember 31,


Fiscal Year Ended March 31,2007


2007


2006(in thousands)Deferred tax assets:Employee benefits

$
40,038


$
16,501


$
10,948Legal matters


59,388



5,048



4,551Accounts receivable allowances


152,123



126,191



121,235Inventories






8,859



4,851Deferred Revenue






43,250



14,488Investments


4,321



7,256



6,028Tax credits


3,575



3,112



Net operating losses


99,289



17,111



1,644Convertible debt


40,514



44,100



Other


27,651



3,801



2,783426,899



275,229



164,884Less: Valuation allowance


(76,100
)


(18,355
)


(1,644
)Total deferred tax assets


350,799



256,874



164,884Deferred tax liabilities:Inventory


16,897







Plant and equipment


67,425



40,698



21,168Intangible assets


947,009



98,285



23,977Investments


9,813



10,779



2,547Other






1,890



105Total deferred tax liabilities


1,041,144



151,652



47,797Deferred tax (liability) asset, net

$
(690,345
)

$
105,222


$
117,087Classification in the Consolidated Balance Sheets:Deferred income tax benefit  current

$
192,113


$
145,343


$
137,672Deferred income tax liability  current


(24,344
)






Deferred income tax benefit  noncurrent


18,703



45,779



Deferred income tax liability  noncurrent


(876,817
)


(85,900
)


(20,585
)Deferred tax asset, net

$
(690,345
)

$
105,222


$
117,087  92




---



##### Table of Contents



2007Nine Months Ended


Fiscal Year Ended March 31,Fiscal Year Ended March
    31,

December 31,
    2007


2007


2006Statutory tax rate


35.0
%


35.0
%


35.0
%State and Puerto Rico income taxes


(1.1
)%


4.1
%


4.0
%State and Puerto Rico tax credits


0.5
%


(1.3
)%


(1.5
)%Research and Development tax credits


0.3
%


(0.3
)%


(1.0
)%Resolution of prior year tax positions


0.0
%


0.0
%


2.7
%Acquired In-Process R & D


(41.1
)%


12.1
%


0.0
%Effect of foreign operations


1.8
%


0.0
%


0.0
%Other items


(1.0
)%


(0.7
)%


(1.0
)%Effective tax rate


(5.6
)%


48.9
%


32.8
%   Valuation
    Allowance
    Net
    Operating Losses
    Acquired
    In-Process Research and Development
  No. 96-7, Accounting for Deferred Taxes on In-Process Research and
    Development Activities Acquired in a Purchase Business
    Combination No. 96-7).
  No. 96-7,
  Undistributed
    Earnings
   93




---



##### Table of Contents



Federal
    Tax credits, Certain Deductions and Ongoing IRS
    Examinations
        Adoption
    of FIN 48
         94




---



##### Table of Contents



Unrecognized TaxBenefits(in thousands)Balance as of April 1, 2007

$
42,900Additions for current year tax positions


5,700Additions for prior year tax positions


4,400Reductions for prior year tax positions


(3,300
)Settlements


(10,500
)Reductions related to expirations of statute of limitations


(1,200
)Addition due to cumulative adjustment for Merck Generics entities


39,600Balance as of December 31, 2007

$
77,600       Note 12.
    Preferred
    and Common Stock       95




---



##### Table of Contents



Accounting for Derivative Instruments and Hedging Activities
    (as amended by SFAS No. 138 and
    SFAS No. 149). No. 01-6, The Meaning of Indexed to a Companys Own Stock) No. 00-19, Accounting for Derivative Financial Instruments Indexed to,
    and Potentially Settled in, a Companys Own Stock)
       96




---



##### Table of Contents



Note 13.
    Stock
    Option Plan  2003 Long-Term Incentive Plan,
  1997
    Incentive Stock Option Plan
    Weighted AverageNumber of Shares


Exercise PriceUnder Option


per ShareOutstanding at March 31, 2005


22,301,788


$
14.17Options granted


5,780,123



17.61Options exercised


(4,729,113
)


12.03Options forfeited


(1,994,128
)


18.65Outstanding at March 31, 2006


21,358,670



15.16Options granted


1,139,400



21.65Options exercised


(4,053,061
)


12.18Options forfeited


(797,281
)


17.28Outstanding at March 31, 2007


17,647,728



16.17Options granted


4,303,792



15.91Options exercised


(459,836
)


13.18Options forfeited


(661,148
)


17.51Outstanding at December 31, 2007


20,830,536


$
16.15Vested and expected to vest at December 31, 2007


20,310,689


$
16.12Options exercisable at December 31, 2007


12,849,800


$
15.41    97




---



##### Table of Contents



Weighted AverageRestricted

Number of Restricted


Grant-DateStock Awards

Stock Awards


Fair ValueNonvested at March 31, 2007


211,316


$
23.10Granted


1,116,873



15.85Released






Forfeited


(32,842
)


19.01Nonvested at December 31, 2007


1,295,347


$
16.95         Nine Months Ended


Fiscal Years Ended March 31,December 31,
    2007


2007


2006Volatility


30.8
%


34.0
%


38.70
%Risk-free interest rate


4.6
%


4.8
%


4.00
%Dividend yield


0.0
%


1.1
%


1.30
%Expected term of options (in years)


5.0



4.5



4.5Forfeiture rate


3.0
%


3.0
%


0
%Weighted average grant date fair value per option

$
5.60


$
6.90


$
5.92      98




---



##### Table of Contents



Note 14.
    Employee
    Benefits  Defined
    Benefit Plans
      Employers Accounting for
    Defined Benefit Pension and Other Postretirement Plans an
    amendment of FASB Statements No. 87, 88, 106, and
    132(R)
  Defined
    Contribution Plans
      Other
    Benefit Arrangements
   99




---



##### Table of Contents



non-U.S. Mylan
  Note 15.
    Segment
    Information        step-up
  Nine Months Ended December 31, 2007

Generics Segment


Specialty Segment


Matrix Segment


Corporate/Other(1)


Consolidated(in thousands)Net revenuesThird party

$
1,796,587


$
102,126


$
264,230


$



$
2,162,943Intersegment


563



3,401



29,547



(33,511
)


Total


1,797,150



105,527



293,777



(33,511
)

$
2,162,943Segment profitability (loss)

$
590,363


$
18,880


$
18,120



(1,615,628
)


(988,265
)   Fiscal Year EndedMarch 31, 2007

Generics Segment


Specialty Segment


Matrix Segment


Corporate/Other(1)


ConsolidatedNet revenuesThird party

$
1,507,535


$



$
79,412


$



$
1,586,947Intersegment










16,389



(16,389
)


Total


1,507,535







95,801



(16,389
)


1,586,947Segment profitability (loss)

$
712,685


$



$
8,578



(293,709
)


427,554   100




---



##### Table of Contents



Fiscal Year EndedMarch 31, 2006

Generics Segment


Specialty Segment


Matrix Segment


Corporate/Other(1)


ConsolidatedNet revenuesThird party

$
1,240,011


$



$



$



$
1,240,011Intersegment


















Total


1,240,011















1,240,011Segment profitability (loss)


465,465











(178,077
)


287,388     (1)
    
    Includes corporate overhead, intercompany eliminations,
    amortization of intangible assets and certain purchase
    accounting related items (such as the write-off of in-process
    research and development and the amortization of the inventory
    step-up) and
    charges not directly attributable to segments.    Nine Months Ended


Fiscal Year Ended March 31,December 31,
    2007


2007


2006(in thousands)Cardiovascular

$
587,020


$
463,610


$
422,727Central nervous system


584,466



579,814



475,898Dermatology


44,718



58,066



72,843Gastrointestinal


149,804



59,655



46,701Endocrine and Metabolic


198,875



133,967



84,048Renal and Genitourinary


122,484



148,494



63,967Other(1)


475,576



143,341



73,827$
2,162,943


$
1,586,947


$
1,240,011     (1)
    
    Other consists of numerous therapeutic classes, none of which
    individually exceeds 5% of consolidated net revenues.  Geographic
    Information
    Nine Months Ended


Fiscal Year Ended March 31,December 31,
    2007


2007


2006(in thousands)Net external revenuesThe AmericasUnited States

$
1,342,564


$
1,506,419


$
1,233,990Other Americas


68,117



2,622



213Europe


243,713



50,958



2,694Asia


508,549



26,948



3,114$
2,162,943


$
1,586,947


$
1,240,011  101




---



##### Table of Contents



Note 16.
    Commitments      OperatingDecember 31,

Leases(in thousands)2008

$
18,4462009


15,1832010


11,5672011


6,7382012


5,818Thereafter


11,405$
69,157         Note 17.
    Contingencies  Legal
    Proceedings
    Omeprazole
   102




---



##### Table of Contents



Lorazepam
    and Clorazepate
    Pricing
    and Medicaid Litigation
    and/or and/or and/or and/or
 103




---



##### Table of Contents



and/or
      Modafinil
    Antitrust Litigation and FTC Inquiry
    Merck
    Generics Litigation
      Other
    Litigation
   104




---



##### Table of Contents



Note 18.
    Subsequent
    Events   105




---



##### Table of Contents



Managements
    Report on Internal Control over Financial Reporting      Internal
    Control  Integrated Framework
  Form 10-K.
 106




---



##### Table of Contents



Report of
    Independent Registered Public Accounting Firm          Share-Based Payment. Accounting for Uncertainty
    in Income Taxes  an Interpretation of FASB Statement
    No. 109.
    Internal Control  Integrated Framework
     107




---



##### Table of Contents



Report of
    Independent Registered Public Accounting Firm
  
  Internal Control  Integrated Framework
        Internal Control  Integrated Framework
 108




---



##### Table of Contents



Accounting for Uncertainty in
    Income Taxes  an Interpretation of FASB Statement
    No. 109
     109




---



##### Table of Contents



Mylan
    Inc.
 Supplementary Financial Information
   Quarterly
    Financial Data
  Three Month Period EndedNine Months Ended

June 30,


September 30,


December 31,December 31, 2007

2007


2007


2007Total revenues

$
546,321


$
477,091


$
1,155,349Gross profit


296,708



221,641



356,099Net earnings (loss) available to common shareholders


79,727



149,827



(1,383,577
)(4)Earnings per
    share(1):Basic

$
0.32


$
0.60


$
(5.04
)(4)Diluted

$
0.32


$
0.60


$
(5.04
)(4)Share
    prices(2):High

$
22.64


$
18.19


$
16.87Low

$
18.19


$
14.00


$
13.25   Three Month Period EndedJune 30,


September 30,


December 31,


March 31,Fiscal 2007

2006


2006


2006


2007Total revenues

$
356,140


$
366,656


$
401,761


$
487,262Gross profit


188,200



196,090



224,531



234,847Net earnings


75,587



77,541



135,445



(71,289
)(3)Earnings per
    share(1):Basic

$
0.36


$
0.37


$
0.64


$
(0.31
)(3)Diluted

$
0.35


$
0.36


$
0.63


$
(0.31
)(3)Share
    prices(2):High

$
23.55


$
23.05


$
22.07


$
22.61Low

$
20.00


$
19.06


$
19.91


$
19.42     (1)
    
    The sum of earnings per share for the quarters may not equal
    earnings per share for the total year due to changes in the
    average number of common shares outstanding.(2)
    
    Closing prices as reported on the New York Stock Exchange (NYSE).(3)
    
    The results for the three months ended March 31, 2007,
    include the results of Matrix since its acquisition on
    January 8, 2007, and certain purchase accounting
    adjustments, including $147.0 million related to acquired
    in- process research and development.(4)
    
    The results for the three months ended December 31, 2007,
    include the results of Merck Generics since its acquisition on
    October 2, 2007, and certain purchase accounting
    adjustments, including $1.27 billion related to acquired
    in- process research and development.  ITEM 9.
    Changes
    in and Disagreements with Accountants on Accounting and
    Financial Disclosure    ITEM 9A.
    Controls
    and Procedures   110




---



##### Table of Contents



ITEM 9B.
    Other
    Information   PART III  ITEM 10.
    Directors,
    Executive Officers and Corporate Governance    Code of
    Ethics
    ITEM 11.
    Executive
    Compensation    ITEM 12.
    Security
    Ownership of Certain Beneficial Owners and Management and
    Related Stockholder Matters    ITEM 13.
    Certain
    Relationships and Related Transactions, and Director
    Independence    ITEM 14.
    Principal
    Accounting Fees and Services   111




---



##### Table of Contents



PART IV  ITEM 15.
    Exhibits,
    Financial Statement Schedules  Consolidated Financial Statements
    Financial Statement Schedules
  MYLAN
    LABORATORIES INC.
    SCHEDULE II  VALUATION AND QUALIFYING
    ACCOUNTS
    (in thousands)
  Additions/Deductions


AdditonsCharged to


Charged toBeginning


Costs and


Other





EndingDescription

Balance


Expenses


Accounts


Deductions


BalanceAllowance for doubtful accounts:Nine months ended December 31, 2007

$
15,149


$
9,959


$
22,872
*

$
(258
)

$
47,722Fiscal 2007

$
10,954


$
(500
)

$
4,778
**

$
(83
)

$
15,149Fiscal 2006

$
7,340


$
3,614


$



$



$
10,954      *
    
    Allowance recorded as part of the Merck Generics acquisition.**
    
    Allowance recorded as part of the Matrix acquisition.  Exhibits
  3
.1(a)

Amended and Restated Articles of Incorporation of the
    registrant, filed as Exhibit 3.1 to the
    Form 10-Q
    for the quarterly period ended June 30, 2003, and
    incorporated herein by reference.3
.1(b)

Amendment to Amended and Restated Articles of Incorporation of
    the registrant, filed as Exhibit 3.2 to the Report on
    Form 8-K
    filed with the SEC on October 5, 2007, and incorporated
    herein by reference.3
.1(c)

Amendment to Amended and Restated Articles of Incorporation of
    the registrant, filed as Exhibit 3.1 to the Report on
    Form 8-K
    filed with the SEC on November 20, 2007, and incorporated
    herein by reference3
.2

Bylaws of the registrant, as amended to date, filed as
    Exhibit 3.1 to the Report of
    Form 8-K
    filed on December 21, 2007, and incorporated herein by
    reference.4
.1(a)

Rights Agreement dated as of August 22, 1996, between the
    registrant and American Stock Transfer &
    Trust Company, filed as Exhibit 4.1 to the Report on
    Form 8-K
    filed with the SEC on September 3, 1996, and incorporated
    herein by reference.4
.1(b)

Amendment to Rights Agreement dated as of November 8, 1999,
    between the registrant and American Stock Transfer &
    Trust Company, filed as Exhibit 1 to
    Form 8-A/A
    filed with the SEC on March 31, 2000, and incorporated
    herein by reference.4
.1(c)

Amendment No. 2 to Rights Agreement dated as of
    August 13, 2004, between the registrant and American Stock
    Transfer & Trust Company, filed as
    Exhibit 4.1 to the Report on
    Form 8-K
    filed with the SEC on August 16, 2004, and incorporated
    herein by reference.4
.1(d)

Amendment No. 3 to Rights Agreement dated as of
    September 8, 2004, between the registrant and American
    Stock Transfer & Trust Company, filed as
    Exhibit 4.1 to the Report on
    Form 8-K
    filed with the SEC on September 9, 2004, and incorporated
    herein by reference.4
.1(e)

Amendment No. 4 to Rights Agreement dated as of
    December 2, 2004, between the registrant and American Stock
    Transfer & Trust Company, filed as
    Exhibit 4.1 to the Report on
    Form 8-K
    filed with the SEC on December 3, 2004, and incorporated
    herein by reference.4
.1(f)

Amendment No. 5 to Rights Agreement dated as of
    December 19, 2005, between the registrant and American
    Stock Transfer & Trust Company, filed as
    Exhibit 4.1 to the Report on
    Form 8-K
    filed with the SEC on December 19, 2005, and incorporated
    herein by reference. 112




---



##### Table of Contents



4
.2(a)

Indenture, dated as of July 21, 2005, between the
    registrant and The Bank of New York, as trustee, filed as
    Exhibit 4.1 to the Report on
    Form 8-K
    filed with the SEC on July 27, 2005, and incorporated
    herein by reference.4
.2(b)

Second Supplemental Indenture, dated as of October 1, 2007,
    among the registrant, the Subsidiaries of the registrant listed
    on the signature page thereto and The Bank of New York, as
    trustee, filed as Exhibit 4.1 to the Report on
    Form 8-K
    filed with the SEC on October 5, 2007, and incorporated
    herein by reference.4
.3

Registration Rights Agreement, dated as of July 21, 2005,
    among the registrant, the Guarantors party thereto and Merrill
    Lynch, Pierce, Fenner & Smith Incorporated, BNY
    Capital Markets, Inc., KeyBanc Capital Markets (a Division of
    McDonald Investments Inc.), PNC Capital Markets, Inc. and
    SunTrust Capital Markets, Inc., filed as Exhibit 4.2 to the
    Report on
    Form 8-K
    filed with the SEC on July 27, 2005, and incorporated
    herein by reference.10
.1

1986 Incentive Stock Option Plan, as amended to date, filed as
    Exhibit 10(b) to
    Form 10-K
    for the fiscal year ended March 31, 1993, and incorporated
    herein by reference.*10
.2

1997 Incentive Stock Option Plan, as amended to date, filed as
    Exhibit 10.3 to
    Form 10-Q
    for the quarter ended September 30, 2002, and incorporated
    herein by reference.*10
.3

1992 Nonemployee Director Stock Option Plan, as amended to date,
    filed as Exhibit 10(l) to
    Form 10-K
    for the fiscal year ended March 31, 1998, and incorporated
    herein by reference.*10
.4(a)

2003 Long-Term Incentive Plan, filed as Appendix A to
    Definitive Proxy Statement on Schedule 14A, filed with the
    SEC on June 23, 2003, and incorporated herein by reference.*10
.4(b)

Form of Stock Option Agreement under the Mylan Laboratories Inc.
    2003 Long-Term Incentive Plan, filed as Exhibit 10.4(b) to
    Form 10-K
    for the fiscal year ended March 31, 2005, and incorporated
    herein by reference.*10
.4(c)

Form of Restricted Share Award under the Mylan Laboratories Inc.
    2003 Long-Term Incentive Plan, filed as Exhibit 10.4(c) to
    Form 10-K
    for the fiscal year ended March 31, 2005, and incorporated
    herein by reference.*10
.4(d)

Amendment No. 1 to Mylan Laboratories Inc. 2003 Long-Term
    Incentive Plan, filed as Exhibit 10.4(d) to
    Form 10-K
    for the fiscal year ended March 31, 2006, and incorporated
    herein by reference.*10
.4(e)

Amendment No. 2 to Mylan Laboratories Inc. 2003 Long-Term
    Incentive Plan, filed as Exhibit 10.4(e) to
    Form 10-K
    for the fiscal year ended March 31, 2006, and incorporated
    herein by reference.*10
.5

Amended and Restated Executive Employment Agreement dated as of
    April 3, 2006, between the registrant and Robert J. Coury
    filed as Exhibit 10.5 to
    Form 10-K
    for the fiscal year ended March 31, 2006, and incorporated
    herein by reference.*10
.6(a)

Executive Employment Agreement dated as of July 1, 2004,
    between the registrant and Edward J. Borkowski, filed
    as Exhibit 10.27 to
    Form 10-Q/A
    for the quarter ended September 30, 2004, and incorporated
    herein by reference.*10
.6(b)

Amendment No. 1 to Executive Employment Agreement dated as
    of April 3, 2006, between the registrant and Edward J.
    Borkowski filed as Exhibit 10.6(b) to
    Form 10-K
    for the fiscal year ended March 31, 2006, and incorporated
    herein by reference.*10
.7(a)

Executive Employment Agreement dated as of July 1, 2004,
    between the registrant and Stuart A. Williams, filed
    as Exhibit 10.30 to
    Form 10-Q/A
    for the quarter ended September 30, 2004, and incorporated
    herein by reference.*10
.7(b)

Amendment No. 1 to Executive Employment Agreement dated as
    of April 3, 2006, between the registrant and Stuart A.
    Williams filed as Exhibit 10.9(b) to
    Form 10-K
    for the fiscal year ended March 31, 2006, and incorporated
    herein by reference.*10
.7(c)

Amendment No. 2 to Executive Employment Agreement dated as
    of March 31, 2007, between the registrant and Stuart A.
    Williams.*10
.8(a)

Form of Employment Agreement dated as of December 15, 2003,
    between the registrant and certain executive officers (other
    than named executive officers), filed as Exhibit 10.18 to
    Form 10-Q
    for the quarter ended December 31, 2003, and incorporated
    herein by reference.*10
.8(b)

Form of Amendment No. 1 to Executive Employment Agreement
    dated as of April 3, 2006, between the registrant and
    certain executive officers (other than named executive officers)
    filed as Exhibit 10.10(b) to
    Form 10-K
    for the fiscal year ended March 31, 2006, and incorporated
    herein by reference.* 113




---



##### Table of Contents



10
.9(a)

Retirement Benefit Agreement dated as of December 31, 2004,
    between the registrant and Robert J. Coury filed as
    Exhibit 10.7 to
    Form 10-Q
    for the quarter ended December 31, 2004, and incorporated
    herein by reference.*10
.9(b)

Amendment No. 1 to Retirement Benefit Agreement dated as of
    April 3, 2006, between the registrant and Robert J. Coury
    filed as Exhibit 10.11(b) to
    Form 10-K
    for the fiscal year ended March 31, 2006, and incorporated
    herein by reference.*10
.10(a)

Retirement Benefit Agreement dated as of December 31, 2004,
    between the registrant and Edward J. Borkowski, filed
    as Exhibit 10.8 to
    Form 10-Q
    for the quarter ended December 31, 2004, and incorporated
    herein by reference.*10
.10(b)

Amendment No. 1 to Retirement Benefit Agreement dated as of
    April 3, 2006, between the registrant and Edward J.
    Borkowski filed as Exhibit 10.12(b) to
    Form 10-K
    for the fiscal year ended March 31, 2006, and incorporated
    herein by reference.*10
.11(a)

Retirement Benefit Agreement dated as of December 31, 2004,
    between the registrant and Stuart A. Williams, filed
    as Exhibit 10.9 to
    Form 10-Q
    for the quarter ended December 31, 2004, and incorporated
    herein by reference.*10
.11(b)

Amendment No. 1 to Retirement Benefit Agreement dated as of
    April 3, 2006, between the registrant and Stuart A.
    Williams filed as Exhibit 10.13(b) to
    Form 10-K
    for the fiscal year ended March 31, 2006, and incorporated
    herein by reference.*10
.12

Retirement Benefit Agreement dated January 27, 1995,
    between the registrant and C.B. Todd, filed as
    Exhibit 10(b) to
    Form 10-K
    for the fiscal year ended March 31, 1995, and incorporated
    herein by reference.*10
.13(a)

Retirement Benefit Agreement dated January 27, 1995,
    between the registrant and Milan Puskar, filed as
    Exhibit 10(b) to
    Form 10-K
    for the fiscal year ended March 31, 1995, and incorporated
    herein by reference.*10
.13(b)

First Amendment to Retirement Benefit Agreement dated
    September 27, 2001, between the registrant and Milan
    Puskar, filed as Exhibit 10.1 to
    Form 10-Q
    for the quarter ended September 30, 2001, and incorporated
    herein by reference.*10
.14

Split Dollar Life Insurance Arrangement between the registrant
    and the Milan Puskar Irrevocable Trust filed as
    Exhibit 10(h) to
    Form 10-K
    for the fiscal year ended March 31, 1996, and incorporated
    herein by reference.*10
.15(a)

Transition and Succession Agreement dated as of
    December 15, 2003, between the registrant and Robert J.
    Coury, filed as Exhibit 10.19 to
    Form 10-Q
    for the quarter ended December 31, 2003, and incorporated
    herein by reference.*10
.15(b)

Amendment No. 1 to Transition and Succession Agreement
    dated as of December 2, 2004, between the registrant and
    Robert J. Coury, filed as Exhibit 10.1 to
    Form 10-Q
    for the quarter ended December 31, 2004, and incorporated
    herein by reference.*10
.15(c)

Amendment No. 2 to Transition and Succession Agreement
    dated as of April 3, 2006, between the registrant and
    Robert J. Coury filed as Exhibit 10.19(c) to
    Form 10-K
    for the fiscal year ended March 31, 2006, and incorporated
    herein by reference.*10
.16(a)

Transition and Succession Agreement dated as of
    December 15, 2003, between the registrant and Edward J.
    Borkowski, filed as Exhibit 10.20 to
    Form 10-Q
    for the quarter ended December 31, 2003, and incorporated
    herein by reference.*10
.16(b)

Amendment No. 1 to Transition and Succession Agreement
    dated as of December 2, 2004, between the registrant and
    Edward J. Borkowski, filed as Exhibit 10.2 to
    Form 10-Q
    for the quarter ended December 31, 2004, and incorporated
    herein by reference.*10
.16(c)

Amendment No. 2 to Transition and Succession Agreement
    dated as of April 3, 2006, between the registrant and
    Edward J. Borkowski filed as Exhibit 10.20(c) to
    Form 10-K
    for the fiscal year ended March 31, 2006, and incorporated
    herein by reference.*10
.17

Amended and Restated Transition and Succession Agreement dated
    as of April 3, 2006, between the registrant and Stuart A.
    Williams filed as Exhibit 10.23 to
    Form 10-K
    for the fiscal year ended March 31, 2006, and incorporated
    herein by reference.*10
.18(a)

Form of Transition and Succession Agreement dated as of
    December 15, 2003, with certain executive officers (other
    than named executive officers), filed as Exhibit 10.24 to
    Form 10-Q
    for the quarter ended December 31, 2003, and incorporated
    herein by reference.* 114




---



##### Table of Contents



10
.18(b)

Amendment No. 1 to Form of Transition and Succession
    Agreement dated as of April 3, 2006, with certain executive
    officers (other than named executive officers) filed as
    Exhibit 10.24(b) to
    Form 10-K
    for the fiscal year ended March 31, 2006, and incorporated
    herein by reference.*10
.19

Executives Retirement Savings Plan, filed as
    Exhibit 10.14 to
    Form 10-K
    for the fiscal year ended March 31, 2001, and incorporated
    herein by reference.*10
.20

Supplemental Health Insurance Program For Certain Officers of
    Mylan Laboratories Inc., effective December 15, 2001, filed
    as Exhibit 10.1 to
    Form 10-Q
    for the quarter ended December 31, 2001, and incorporated
    herein by reference.*10
.21

Mylan Laboratories Inc. Severance Plan, filed as
    Exhibit 10.12 to
    Form 10-Q
    for the quarter ended December 31, 2004, and incorporated
    herein by reference.*10
.22

Form of Indemnification Agreement between the registrant and
    each Director, filed as Exhibit 10.31 to
    Form 10-Q/A
    for the quarter ended September 30, 2004, and incorporated
    herein by reference.*10
.23

Description of the registrants Director Compensation
    Arrangements in effect as of May 21, 2007 filed as
    Exhibit 10.26 to Form 10-K for the year ended
    March 31, 2007, and incorporated herein by reference.*10
.24

Share Purchase Agreement, dated as of August 28, 2006, by
    and among the registrant, MP Laboratories (Mauritius) Ltd,
    Prasad Nimmagadda, Prasad Nimmagadda-HUF, G2 Corporate Services
    Limited, India Newbridge Investments Limited, India Newbridge
    Partners FDI Limited, India Newbridge Coinvestment Limited,
    Maxwell (Mauritius) Pte. Limited and Spandana Foundation filed
    as Exhibit 10.2 to
    Form 10-Q
    for the quarter ended September 30, 2006, and incorporated
    herein by reference.10
.25

Shareholders Agreement, dated as of August 28, 2006, by and
    among the registrant, India Newbridge Investments Limited, India
    Newbridge Partners FDI Limited, India Newbridge Coinvestment
    Limited, Maxwell (Mauritius) Pte. Limited and Prasad Nimmagadda
    filed as Exhibit 10.3 to
    Form 10-Q
    for the quarter ended September 30, 2006, and incorporated
    herein by reference.10
.26

Agreement Regarding Consulting Services and Shareholders
    Agreement dated as of December 31, 2007 by and among the
    registrant, MP Laboratories (Mauritius) Ltd, Prasad Nimmagadda
    and G2 Corporate Services Limited.10
.27(a)

Share Purchase Agreement dated May 12, 2007 by and among
    Merck Generics Holding GmbH, Merck Internationale Beteiligung
    GmbH, Merck KGaA and the registrant, filed with the Report on
    Form 8-K
    filed with the SEC on May 17, 2007, and incorporated herein
    by reference.10
.27(b)

Amendment No. 1 to Share Purchase Agreement by and among
    the registrant and Merck Generics Holding GmbH, Merck S.A. Merck
    Internationale Beteiligung GmbH and Merck KGaA, filed as
    Exhibit 10.1 to the Report on
    Form 8-K
    filed with the SEC on October 5, 2007, and incorporated
    herein by reference.10
.28

Amended and Restated Credit Agreement dated as of
    December 20, 2007 by and among the registrant, Mylan
    Luxembourg 5 S.à.r.l., certain lenders and JPMorgan Chase
    Bank, National Association, as Administrative Agent, filed as
    Exhibit 10.1 to the Report on
    Form 8-K
    filed with the SEC on December 27, 2007, and incorporated
    herein by reference.12
.1

Ratio of Earnings to Fixed Chargers, filed as Exhibit 12.1
    to
    Form 8-K/A
    filed with the SEC on November 1, 2007, and incorporated
    herein by reference.21


Subsidiaries of the registrant.23


Consent of Independent Registered Public Accounting Firm.31
.1

Certification of CEO pursuant to Section 302 of the
    Sarbanes-Oxley Act of 2002.31
.2

Certification of CFO pursuant to Section 302 of the
    Sarbanes-Oxley Act of 2002.32


Certification of CEO and CFO pursuant to Section 906 of the
    Sarbanes-Oxley Act of 2002.     *
    
    Denotes management contract or compensatory plan or arrangement. 115




---



##### Table of Contents



SIGNATURES      by
    /s/  EDWARD
    J. BORKOWSKI   
 116




---



##### Table of Contents



EXHIBIT INDEX
  10
.26

Agreement Regarding Consulting Services and Shareholders
    Agreement dated as of December 31, 2007 by and among the
    registrant, MP Laboratories (Mauritius) Ltd, Prasad Nimmagadda
    and G2 Corporate Services Limited.21


Subsidiaries of the registrant.23


Consent of Independent Registered Public Accounting Firm.31
.1

Certification of CEO pursuant to Section 302 of the
    Sarbanes-Oxley Act of 2002.31
.2

Certification of CFO pursuant to Section 302 of the
    Sarbanes-Oxley Act of 2002.32


Certification of CEO and CFO pursuant to Section 906 of the
    Sarbanes-Oxley Act of 2002.  117