Exhibit
10.7 (b)
  THIS CONFIRMATION AMENDS, REPLACES, SUPERSEDES AND RESTATES IN ITS ENTIRETY ALL PREVIOUS
CONFIRMATIONS PERTAINING TO THIS TRANSACTION.
 Confirmation of OTC Convertible Note Hedge
 Date:
    
    September 9, 2008
 Amendment Date: November 25, 2008
 To:
    
    Mylan Inc. (Counterparty)
 From:
    
    Merrill Lynch International (Dealer)
   Confirmation Agent Transaction
 Swap
Definitions Equity
Definitions Definitions
 Master Agreement Agreement ),
 Offering Memorandum
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General Terms:
 Trade Date:
    
    September 9, 2008Effective Date:
    
    The date of issuance of the Reference Notes.Option Style:
    
    Modified American, as described under Settlement Terms
below.Option Type:
    
    CallSeller:
    
    DealerBuyer:
    
    CounterpartyShares:
    
    The shares of Common Stock, $0.50 par value, of Counterparty
(Security Symbol: MYL).Number of Options:
    
    The number of Reference Notes in denominations of USD1,000
principal amount issued by Counterparty on the closing date
for the initial issuance of the Reference Notes; provided
that the Number of Options shall be automatically increased
as of the date of exercise by Merrill Lynch, Pierce, Fenner
& Smith Incorporated and Goldman, Sachs & Co. of the Initial
Purchasers (as such term is defined in the Purchase
Agreement) option to purchase additional Reference Notes
pursuant to Section 2(b) of the Purchase Agreement related
to the purchase and sale of the Reference Notes dated as of
September 9, 2008 among Counterparty and the Initial
Purchasers (the Purchase Agreement) by the number of
Reference Notes in denominations of USD1,000 principal
amount issued pursuant to such exercise (such Reference
Notes, the Additional Reference Notes).Number of Shares:
    
    The product of the Number of Options and the Conversion
Reference Rate (as defined in the Note Indenture), but
without regard to any adjustment to the Conversion Reference
Rate as a result of the Excluded Provisions of the Note
Indenture.Applicable Percentage:
    
    70%Premium:
    
    $98,105,000; providedthat if the Number of Options is
increased pursuant to the proviso to the definition of
Number of Options above, an additional Premium equal to
the product of the number of Options by which the Number of
Options is so increased and $3.73359 shall be paid on the
Additional Premium Payment Date.Premium Payment Date:
    
    The date of issuance of the Reference Notes.
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Additional Premium Payment Date:
    
    The closing date for the purchase and sale of the Additional
Reference Notes.Exchange:
    
    New York Stock ExchangeRelated Exchange(s):
    
    All ExchangesReference Notes:
    
    3.75% Cash Convertible Senior Notes due 2015 of CounterpartyNote Indenture:
    
    The indenture, dated as of closing of the issuance of the
Reference Notes, between Counterparty, and the guarantors
named therein and The Bank of New York, as trustee relating
to the Reference Notes, as in effect on the date of its
execution. For the avoidance of doubt, references in this
Confirmation to the Note Indenture and to terms defined
therein shall be deemed to exclude any amendments to the
Note Indenture that would have the effect of altering the
obligations of the parties hereunder unless the parties
agree otherwise in writing. Certain capitalized terms used
but not defined herein have the meanings assigned to them in
the Note Indenture. As used herein, the term Description
of Notes refers to the section of the Offering Memorandum
bearing that designation.Procedures for Exercise:Potential Exercise Dates:
    
    Each Cash Conversion Trigger Date.Conversion Date:
    
    Each cash conversion trigger date for any Reference Note
pursuant to the terms of the Note Indenture occurring before
the Expiration Date.Exercise on Conversion Dates:
    
    On each Conversion Date, a number of Options equal to the
number of Reference Notes in denominations of USD1,000
principal amount validly submitted for conversion on such
Conversion Date in accordance with the terms of the Note
Indenture shall be automatically exercised.Exercise Period:
    
    The period from and excluding the Effective Date to and
including the Expiration Date.Expiration Date:
    
    The earliest of (i) the stated maturity of the Reference
Notes and (ii) the first day on which none of such Reference
Notes remain outstanding, whether by virtue of conversion,
issuer repurchase or otherwise.Multiple Exercise:
    
    Applicable, as provided above under Exercise on Conversion
Dates.Minimum Number of Options:
    
    ZeroMaximum Number of Options:
    
    Number of OptionsAutomatic Exercise:
    
    As provided above under Exercise on Conversion Dates.
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Exercise Notice:
    
    Notwithstanding the exercise of any Options hereunder, Buyer
shall be entitled to receive the deliveries provided under
Settlement Terms below only if Buyer shall have delivered
to Seller a written notice (Exercise Notice) prior to 5:00
PM, New York City time, on the Business Day, as defined in
the Note Indenture, prior to the first Scheduled Trading Day
of the Conversion Reference Period relating to the Reference
Notes converted on the Conversion Date occurring on the
relevant Exercise Date (such time, the Notice Deadline) of
(i) the number of Options being exercised, (ii) the first
Scheduled Trading Day of the Conversion Reference Period and
(iii) the scheduled settlement date under the Note Indenture
for the Reference Notes converted on the Conversion Date
occurring on the Exercise Date for such exercise; provided
that with respect to Reference Notes converted during the
period beginning on the 45th Scheduled Trading Day: (as
defined in the Note Indenture) prior to the Stated
Maturity (as defined in the Note Indenture) of the
Reference Notes and ending on the final date on which
Reference Notes may be surrendered for cash conversion, the
related Exercise Notice need not contain the information
specified in clause (i) of this sentence and, in order to
exercise any Options hereunder, Buyer shall deliver to
Seller prior to 5:00 p.m. New York City time on the Business
Day prior to such Stated Maturity a written notice
(Supplemental Exercise Notice) setting forth the number of
Reference Notes converted during such period; provided
further that, notwithstanding the foregoing, any Exercise
Notice (and the related automatic exercise of Options) shall
be effective if given after the relevant Notice Deadline but
prior to 5:00 PM New York City time, on the fifth Scheduled
Trading Day following the Notice Deadline, in which event
the Calculation Agent shall adjust the Delivery Obligation
(as defined below) as appropriate to reflect the additional
costs (including, but not limited to, hedging mismatches and
market losses) and reasonable expenses incurred by Seller in
connection with its hedging activities (including the
unwinding of any hedge position) as a result of its not
having received such notice prior to the applicable Notice
Deadline.
 Sellers Telephone Number and
Telex and/or Facsimile Number
and Contact Details for purpose
of Giving Notice:
    
    Address:
    
    Merrill Lynch International
Merrill Lynch Financial Centre
2 King Edward Street
Merrill Lynch Financial Centre
London EC1A 1HQAttention:
    
    Manager of Equity DocumentationFacsimile No.:
    
    +44 207 995 2004Telephone No.:
    
    +44 207 995 3769
 Settlement Terms:Settlement Date:
    
    The settlement date specified in the Note Indenture for the
payment of the Conversion Reference Value upon the
conversion of Reference Notes.
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Delivery Obligation:
    
    In lieu of the obligations set forth in Sections 8.1 and 9.1
of the Equity Definitions, and subject to Exercise Notice
above and Condition to Delivery Obligation below, in
respect of an Exercise Date occurring on a Conversion Date,
Seller will pay to Buyer on the related Settlement Date an
amount in cash equal to the product of (w) the Applicable
Percentage, (x) the number of Options exercised on such
Exercise Date and (y) the sum, for each Trading Day during
the Conversion Reference Period for such Exercise Date, of
the excess, if any, of (i) the Daily Conversion Reference
Value on such Trading Day over (ii) the quotient of $1,000
divided by the number of Trading Days in such Conversion
Reference Period (such amount, the Convertible
Obligation); providedthat the Delivery Obligation shall be
determined by excluding any amount that Buyer is obligated
to pay to holders of the Reference Notes as a direct or
indirect result of any adjustments to the Conversion
Reference Rate pursuant to the Excluded Provisions of the
Note Indenture and, for the avoidance of doubt, any interest
payment or distribution that Buyer is obligated to deliver
in respect of References Notes converted on such Conversion
Date.Condition to Delivery
Obligation:
    
    Notwithstanding anything to the contrary in this
Confirmation or the Agreement, Dealers obligation to pay
Counterparty the Delivery Obligation in respect of any
Exercise Date shall be conditioned upon Counterpartys
payment of the Conversion Reference Value (as defined in the
Note Indenture) in respect of all the Reference Notes
converted on the Conversion Date occurring on such Exercise
Date.Excluded Provisions:
    
    Those provisions of the Note Indenture that provide for
discretionary or voluntary adjustments of the conversion
reference rate by the Issuer. Notwithstanding anything to
the contrary herein or in the Equity Definitions, in no
event shall any adjustments in respect of any Potential
Adjustment Event or Extraordinary Event be made hereunder as
a result of any adjustments to the Conversion Reference Rate
pursuant to the Excluded Provisions of the Note Indenture.Conversion Reference Period:
    
    For any Exercise Date, the conversion reference period as
defined in the Note Indenture with respect to the Conversion
Date occurring on such Exercise Date.Other Applicable Provisions:
    
    To the extent Seller is obligated to deliver Shares
hereunder, the provisions of Sections 9.1(c), 9.8, 9.9,
9.10, 9.11 (except that the Representation and Agreement
contained in Section 9.11 of the Equity Definitions shall be
modified by excluding any representations therein relating
to restrictions, obligations, limitations or requirements
under applicable securities laws as a result of the fact
that Buyer is the issuer of the Shares) and 9.12 of the
Equity Definitions will be applicable as if Physical
Settlement applied to the Transaction.Adjustments:Method of Adjustment:
    
    Calculation Agent Adjustment; provided that the terms of
this Transaction shall be adjusted in a manner consistent
with adjustments of the Conversion Reference Rate of the
Reference Notes as provided in the Note Indenture; provided
that no adjustment in respect of any Potential Adjustment
Event or Extraordinary Event shall be made hereunder as a
result of any adjustments to the Conversion Reference Rate
pursuant to the Excluded Provisions of the Note Indenture.
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Potential Adjustment Event:
    
    Notwithstanding Section 11.2(e) of the Equity Definitions, a
Potential Adjustment Event means, subject to the preceding
paragraph, the occurrence of an event or condition that
would result in an adjustment of the Conversion Reference
Rate of the Reference Notes pursuant to the Note Indenture.Extraordinary Events:Merger Events:
    
    Notwithstanding Section 12.1(b) of the Equity Definitions, a
Merger Event means the occurrence of any event or
condition to which the sections of the Note Indenture
corresponding to Rights of Holders to Require Cash
Conversion of Notes  Business Combinations in the
Description of Notes apply.Consequences for Merger Events:Share-for-Share:
    
    The Transaction will be adjusted in a manner corresponding
to the adjustments to the Reference Notes as provided in the
Note Indenture.Share-for-Other:
    
    The Transaction will be adjusted in a manner corresponding
to the adjustments to the Reference Notes as provided in the
Note Indenture.Share-for-Combined:
    
    The Transaction will be adjusted in a manner corresponding
to the adjustments to the Reference Notes as provided in the
Note Indenture.Notice of Merger Consideration:
    
    Upon the occurrence of a Merger Event that causes the Shares
to be converted into the right to receive more than a single
type of consideration (determined based in part upon any
form of stockholder election), Buyer shall reasonably
promptly (but in any event on or prior to the effective date
of such Merger Event) notify the Calculation Agent of the
weighted average of the types and amounts of consideration
received by the holders of Shares entitled to receive cash,
securities or other property or assets with respect to or in
exchange for such Shares in any Merger Event who
affirmatively make such an election.Tender Offer:
    
    Applicable, subject to Consequences of Tender Offers below.
Notwithstanding Section 12.1(d) of the Equity Definitions,
Tender Offer means the occurrence of any event or
condition to which the provisions of the Note Indenture
governing adjustments to the Conversion Reference Rate in
connection with a tender offer or exchange offer apply.Consequences of Tender Offers:
    
    The Transaction will be adjusted in a manner corresponding
to the adjustments to the Reference Notes as provided in the
Note Indenture.Nationalization, Insolvency and
Delisting:
    
    Cancellation and Payment (Calculation Agent Determination).
In addition to the provisions of Section 12.6(a)(iii) of the
Equity Definitions, it will also constitute a Delisting if
the Exchange is located in the United States and the Shares
are not immediately re-listed, re-traded or re-quoted on any
of the New York Stock Exchange, the American Stock Exchange,
the NASDAQ Global Market or the NASDAQ Global Select Market
(or their respective successors); if the Shares are
immediately re-listed, re-traded or re-quoted on any such
exchange or quotation system, such exchange or quotation
system shall thereafter be deemed to be the Exchange.
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Additional Disruption Events:Change in Law:
    
    Applicable , providedthat clause (Y) of Section 12.9(a)(ii)
of the Equity Definitions shall not be applicable insofar as
any event described therein results in an increased cost to
Dealer of hedging the Transaction which increased cost would
have been included under Increased Cost of Hedging if such
provision were applicable.Insolvency Filing:
    
    ApplicableHedging Disruption Event:
    
    Not ApplicableIncreased Cost of
Hedging:
    
    Not ApplicableLoss of Stock
Borrow:
    
    Not ApplicableIncreased Cost of
Stock Borrow:
    
    Not ApplicableHedging Party:
    
    SellerDetermining Party:
    
    SellerNon-Reliance:
    
    ApplicableAgreements and Acknowledgments
Regarding Hedging Activities:
    
    ApplicableAdditional Acknowledgments:
    
    Applicable
 Additional Agreements, Representations and Covenants of Buyer, Etc.:
 1.
    
    Buyer hereby represents and warrants to Seller, on each day from the Trade Date to and
including the earlier of (i) October 7, 2008 and (ii) the date by which Seller is able to
initially complete a hedge of its position relating to this Transaction (including of any
increase in the Number of Options resulting from exercise of the over-allotment option
pursuant to Section 2(b) of the Purchase Agreement), that:
 a.
    
    it will effect (and cause any affiliated purchaser (as defined in Rule 10b-18
promulgated under the Securities Exchange Act of 1934, as amended (the Exchange
Act)) to effect) any purchases, direct or indirect (including by means of any
cash-settled or other derivative instrument), of Shares or any security convertible
into or exchangeable or exercisable for Shares on any single day solely through either
Merrill Lynch, Pierce, Fenner & Smith Incorporated or Goldman, Sachs & Co. in a manner
that would not cause any purchases by Seller of its hedge in connection with this
Transaction not to comply with applicable securities laws; provided that this clause
(a) shall not apply to any transactions in Shares effected directly between Buyer and
its employees pursuant to
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an employee share incentive or benefit plan;b.
    
    it will not engage in, or be engaged in, any distribution, as such term is
defined in Regulation M promulgated under the Exchange Act, other than a distribution
meeting the requirements of the exceptions set forth in sections 101(b)(10) and
102(b)(7) of Regulation M (it being understood that Buyer makes no representation
pursuant to this clause in respect of any action or inaction taken by Seller or any
initial purchaser of the Reference Notes); andc.
    
    Buyer has publicly disclosed all material information necessary for Buyer to be
able to purchase or sell Shares in compliance with applicable federal securities laws.
 2.
    
    Counterparty is not, and after giving effect to the Transaction contemplated hereby, will not
be, an investment company as such term is defined in the Investment Company Act of 1940, as
amended.3.
    
    As of the Trade Date and each date on which a payment or delivery is made by Counterparty
hereunder, (i) the assets of Counterparty at their fair valuation exceed the liabilities of
Counterparty, including contingent liabilities; (ii) the capital of Counterparty is adequate
to conduct its business; and (iii) Counterparty has the ability to pay its debts and other
obligations as such obligations mature and does not intend to, or believe that it will, incur
debt or other obligations beyond its ability to pay as such obligations mature.4.
    
    The representations and warranties set forth in Section 1 of the Purchase Agreement (as
defined herein) are hereby deemed to be repeated to Dealer as if set forth herein.
 Additional Termination Events:
 provided
 1.
    
    Amendment Event means that the Counterparty, without Dealers consent, amends,
modifies, supplements or obtains a waiver of (a) any term of the Note Indenture (as in effect
prior to such amendment, modification, supplement or waiver) or the Reference Notes relating
to the principal amount, coupon, maturity, repurchase obligation of the Counterparty or
redemption right of the Counterparty, (b) any material term relating to conversion of the
Reference Notes, including, without limitation, any changes to the conversion price,
conversion settlement dates or conversion conditions or (c) any term that would require
consent of the holders of 100% of the principal amount of the Reference Notes to amend.2.
    
    Repayment Event means that (a) any Reference Notes are repurchased (whether in
connection with or as a result of a fundamental change or change of control, howsoever
defined, or for any other reason) by the Counterparty, (b) any Reference Notes are delivered
to the Counterparty in exchange for delivery of any property or assets of the Counterparty or
any of its subsidiaries (howsoever described), other than as a result of and in connection
with a Conversion Date, (c) any principal of any of the Reference Notes is repaid prior to the
Stated Maturity (as defined in the Note Indenture) (whether following acceleration of the
Reference Notes or otherwise), provided that no payments of cash made in respect of the
conversion of a Reference Note shall be deemed a payment of principal under this clause (c),
(d) any Reference
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Notes are exchanged by or for the benefit of the holders thereof for any
other securities of the Counterparty or any of its Affiliates (or any other property, or any
combination thereof) pursuant to any exchange offer or similar transaction (other than an
exchange of the Reference Notes for a new series of notes of the Counterparty that are
substantially identical to the Reference Notes other than in respect of restrictions on
transfer) or (e) any of the Reference Notes is surrendered by Counterparty to the trustee for
cancellation, other than registration of a transfer of such Reference Notes or as a result of
and in connection with a Conversion Date.
 Initial Purchase Event :
  Initial Purchase Event means that the transactions contemplated by the Purchase
Agreement shall fail to close for any reason other than in cases involving a breach of the
Purchase Agreement by the Initial Purchasers by the closing date for the offering of the
Reference Notes as specified in the Purchase Agreement.
 Disposition of Hedge Shares:
 Hedge Shares provided, however, VWAP Price
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Repurchase Notices
 Repurchase Notice Indemnified
Party
 Conversion Reference Rate Adjustment Notices
 Conversion Reference Rate
Adjustment Notice Conversion Reference Rate Adjustment Event New Conversion Reference Rate
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Compliance with 
Securities Laws:
    
    Counterparty represents and warrants that it has received, read and
understands the OTC Options Risk Disclosure Statement and a copy of
the most recent disclosure pamphlet prepared by The Options
Clearing Corporation entitled Characteristics and Risks of
Standardized Options.Each party acknowledges and agrees to be bound by the Conduct Rules
of the National Association of Securities Dealers, Inc. applicable
to transactions in options, and further agrees not to violate the
position and exercise limits set forth thereinEach party acknowledges that the offer and sale of the Transaction
to it is intended to be exempt from registration under the
Securities Act by virtue of Section 4(2) thereof. Accordingly,
Buyer represents and warrants to Seller that (i) it has the
financial ability to bear the economic risk of its investment in
the Transaction and is able to bear a total loss of its investment,
(ii) it is an accredited investor as that term is defined in
Regulation D as promulgated under the Securities Act and (iii) the
disposition of the Transaction is restricted under this
Confirmation, the Securities Act and state securities laws.Buyer further represents:(a) Buyer is not entering into this Transaction to create actual or
apparent trading activity in the Shares (or any security
convertible into or exchangeable for Shares) or to raise or depress
or otherwise manipulate the price of the Shares (or any security
convertible into or exchangeable for Shares);(b) Buyer acknowledges that as of the date hereof and without
limiting the generality of Section 13.1 of the Equity Definitions,
Seller is not making any representations or warranties with respect
to the treatment of the Transaction under FASB Statements 149, 150
or 157, EITF Issue No. 00-19 (or any successor issue statements),
under FASBs Liabilities & Equity Project, or any other accounting
standard or guidance.Account Details:
    
    Account for payments to Buyer:     To be advisedAccount for payment to Seller:        To be advisedBankruptcy Rights:
    
    In the event of Buyers bankruptcy, Sellers rights in connection
with this Transaction shall not exceed those rights held by common
shareholders. For the avoidance of doubt, the parties acknowledge
and agree that Sellers rights with respect to any other claim
arising from this Transaction prior to Buyers bankruptcy shall
remain in full force and effect and shall not be otherwise abridged
or modified in connection herewith.Set-Off:
    
    Each party waives any and all rights it may have to set-off,
whether arising under any agreement, applicable law or otherwise.Collateral:
    
    Counterparty shall not be required to post collateral to Dealer.
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Transfer:
    
    Buyer shall have the right to assign its rights and delegate its
obligations hereunder with respect to any portion of this
Transaction, subject to Sellers consent, such consent not to be
unreasonably withheld or delayed; provided that such assignment or
transfer shall be subject to receipt by Seller of opinions and
documents reasonably satisfactory to Seller and effected on terms
reasonably satisfactory to the Seller with respect to any legal and
regulatory requirements relevant to the Seller; provided further
that Buyer shall not be released from its obligation to deliver any
Exercise Notice or its obligations pursuant to Disposition of
Hedge Shares, Repurchase Notices or Conversion Reference Rate
Adjustment Notices above, and Buyer shall be responsible for all
reasonable costs and expenses, including reasonable counsel fees,
incurred by Seller in connection with any such transfer or
assignment. Seller may transfer any of its rights or delegate its
obligations under this Transaction with the prior written consent
of Buyer, which consent shall not be unreasonably withheld or
delayed. Buyer and Seller agree that it shall not be unreasonable
for Buyer to withhold consent to any delegation of Sellers
obligations under this Transaction to an entity the long-term U.S.
dollar-denominated debt obligations of which are rated below A by
Standard & Poors and below A2 by Moodys.If as determined in Dealers sole discretion, at any time Dealers
Ownership Percentage (as defined below) exceeds 8.5% (an Excess
Ownership Position) and Dealer, in its discretion, is unable to
effect a transfer or assignment to a third party after its
commercially reasonable efforts on pricing terms reasonably
acceptable to Dealer and within a time period reasonably acceptable
to Dealer (including without limitation where such inability of
Seller is due to Buyers withholding or delaying of consent to such
transfer or assignment) such that an Excess Ownership Position no
longer exists, Dealer may designate any Scheduled Trading Day as an
Early Termination Date with respect to a portion (the Terminated
Portion) of the Transaction, such that an Excess Ownership
Position no longer exists following such partial termination. In
the event that Dealer so designates an Early Termination Date with
respect to a portion of the Transaction, a payment or delivery
shall be made pursuant to Section 6 of the Agreement as if (i) an
Early Termination Date had been designated in respect of a
Transaction having terms identical to the Terminated Portion of the
Transaction, (ii) Counterparty were the sole Affected Party with
respect to such partial termination, (iii) such portion of the
Transaction were the only Terminated Transaction and (iv) Dealer
were the party entitled to designate an Early Termination Date
pursuant to Section 6(b) of the Agreement and to determine the
amount payable pursuant to Section 6(e) of the Agreement. The
Ownership Percentage as of any day is the fraction, expressed as
a percentage, (A) the numerator of which is the greater of (1) the
number of Shares that Dealer and any of its affiliates subject to
aggregation with Dealer for purposes of the beneficial ownership
test under Section 13 of the Exchange Act and all persons who may
form a group (within the meaning of Rule 13d-5(b)(1) under the
Exchange Act but excluding any group formed for the affirmative
purpose of changing or influencing control of the Issuer) with
Dealer (collectively, Dealer Group) beneficially own (within
the meaning of Section 13 of the Exchange Act) without duplication
on such day and (2) the number of shares that Dealer and all
persons comprising part of the same acquiring person as Dealer
beneficially own, as each such term is used in Counterpartys
Rights Agreement between the Counterparty and American Stock
Transfer & Trust Company dated as of August 22, 1996, as amended as
of November 8, 1999, August 13, 2004, September 8, 2004, December
2, 2004 and December 19, 2005 (as so amended and as may be
subsequently amended, supplemented or replaced from time to time,
the Rights Agreement), on such day and (B) the denominator of
which is the number of Shares outstanding on such day.
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Dealer may assign and delegate its rights and obligations under
this Transaction without the consent of the Buyer to any subsidiary
of ML & Co. (the Assignee) by notice specifying the effective
date of such transfer (Transfer Effective Date) and including an
(i) executed acceptance and assumption by the Assignee of such
rights and obligations and (ii) evidence reasonably satisfactory to
Counterparty that such obligations of the Assignee are guaranteed
by ML & Co. to substantially the same extent as Dealers
obligations under this Transaction; provided that (i) Counterparty
will not, as a result of such transfer, be required to pay to the
Assignee an amount in respect of an Indemnifiable Tax under Section
2(d)(i)(4) of the Agreement (except in respect of interest under
Section 2(e), 6(d)(ii), or 6(e)) greater than the amount in respect
of which Counterparty would have been required to pay to Dealer in
the absence of such transfer; and (ii) the Assignee will not, as a
result of such transfer, be required to withhold or deduct on
account of a Tax under Section 2(d)(i) of the Agreement (except in
respect of interest under Section 2(e), 6(d)(ii), or 6(e)) an
amount in excess of that which Dealer would have been required to
withhold or deduct in the absence of such transfer, unless the
Assignee would be required to make additional payments pursuant to
Section 2(d)(i)(4) of the Agreement corresponding to such excess.On the Transfer Effective Date, (a) Dealer shall be released from
all obligations and liabilities arising under this Transaction; and
(b) the assigned and delegated rights and obligations under this
Transaction shall cease to be a Transaction under the Agreement and
shall be deemed to be a Transaction under an ISDA form of Master
Agreement (Multicurrency-Cross Border) and Schedule substantially
in the form of the Agreement but amended to reflect the name of the
Assignee and the address for notices and any amended
representations under Part 2 of the Agreement as may be specified
in the notice of transfer.Right to Extend:
    
    Dealer may postpone any Exercise Date or Settlement Date or any
other date of valuation or delivery by Dealer, with respect to some
or all of the relevant Options (in which event the Calculation
Agent shall make appropriate adjustments to the Delivery
Obligation), if Dealer determines, in its reasonable discretion,
that such extension is reasonably necessary or appropriate to
preserve Dealers hedging or hedge unwind activity hereunder in
light of existing liquidity conditions in the cash market, the
stock borrow market or other relevant market or to enable Dealer to
effect purchases of Shares in connection with its hedging, hedge
unwind or settlement activity hereunder in a manner that would, if
Dealer were Counterparty or an affiliated purchaser of
Counterparty, be in compliance with applicable legal, regulatory or
self-regulatory requirements, or with related policies and
procedures applicable to Dealer.Regulation:
    
    Seller is regulated by The Securities and Futures Authority Limited.
 Matters Relating to Agent:
 1.
    
    Agent will be responsible for the operational aspects of the Transactions effected through
it, such as record keeping, reporting, and confirming Transactions to Buyer and Seller;2.
    
    Unless Buyer is a major U.S. institutional investor, as defined in Rule 15a-6 of the
Exchange Act, neither Buyer nor Seller will contact the other without the direct involvement
of Agent;3.
    
    Agents sole role under this Agreement and with respect to any Transaction is as an agent of
Buyer and
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Seller on a disclosed basis and Agent shall have no responsibility or liability to
Buyer or Seller hereunder except for gross negligence or willful misconduct in the performance
of its duties as agent. Agent is authorized to act as agent for Buyer, but only to the extent
expressly required to satisfy the requirements of Rule 15a-6 under the Exchange Act in respect
of the Options described hereunder. Agent shall have no authority to act as agent for Buyer
generally or with respect to transactions or other matters governed by this Agreement, except
to the extent expressly required to satisfy the requirements of Rule 15a-6 or in accordance
with express instructions from Buyer.
 ISDA Master Agreement:
  Specified Entity
 Default under Specified Transaction
  Specified Transaction
 Cross Default Section 5(a)(vi)
 one or more defaults under any of the agreements, indentures or instruments under which
Issuer or any significant subsidiary (as such term is defined in Regulation S-X
promulgated under the Securities Act of 1933) of Issuer then has outstanding indebtedness in
excess of $50 million, individually or in the aggregate, and either (a) such default results
from the failure to pay such indebtedness at its stated final maturity and such default has
not been cured or the indebtedness repaid in full within ten days of the default or (b) such
default or defaults have resulted in the acceleration of the maturity of such indebtedness
and such acceleration has not been rescinded or such indebtedness repaid in full within ten
days of the acceleration;
 Credit Event Upon Merger Section 5(b)(v)
 Automatic Early Termination Section 6(a)
 Termination Currency
 Payments on Early Termination. Section 6(e)
 Tax Representations.
 (a)
    
    Payer Representations.For the purpose of Section 3(e) of the Agreement, each party
represents to the other party that it is not required by any applicable law, as modified by
the practice of any relevant governmental revenue authority, of any Relevant Jurisdiction to
make any deduction or withholding for or on account of any Tax from any payment (other than
interest under Section 2(e), 6(d)(ii), or 6(e) of the Agreement) to be made by it to the other
party under the Agreement. In making this representation, each party may rely on (i) the
accuracy of any representations made by the other party pursuant to Section 3(f) of the
Agreement, (ii) the satisfaction of the agreement contained in Section 4(a)(i) or 4(a)(iii) of
the
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Agreement, and the accuracy and effectiveness of any document provided by the other party
pursuant to Section 4(a)(i) or 4(a)(iii) of the Agreement, and (iii) the satisfaction of the
agreement of the other party contained in Section 4(d) of the Agreement; provided that it will
not be a breach of this representation where reliance is placed on clause (ii) above and the
other party does not deliver a form or document under Section 4(a)(iii) of the Agreement by
reason of material prejudice to its legal or commercial position.(b)
    
    Payee Representations.For the purpose of Section 3(f) of the Agreement, each party makes
the following representations to the other party:
   Code
  Delivery Requirements. Sections 4(a)(i) (ii)
 (a)
    
    Tax forms, documents or certificates to be delivered are:Dealer agrees to complete (accurately and in a manner reasonably satisfactory to
Counterparty), execute, and deliver to Counterparty, United States Internal Revenue Service
Form W-8IMY and all required attachments, or any successor of such form(s): (i) before the
first payment date under this agreement; (ii) promptly upon reasonable demand by Counterparty; and (iii) promptly upon learning that any such Form previously provided by
Dealer has become obsolete or incorrect.Counterparty agrees to complete (accurately and in a manner reasonably satisfactory to
Dealer), execute, and deliver to Dealer, United States Internal Revenue Service Form W-9 or
W-8 BEN, or any successor of such form(s): (i) before the first payment date under this
agreement; (ii) promptly upon reasonable demand by Dealer; and (iii) promptly upon learning
that any such form(s) previously provided by Counterparty has become obsolete or incorrect.(b)
    
    Other documents to be delivered:
 Covered byParty Required to
    
    
    
    
    
    Section 3(d)Deliver Document
    
    Document Required to be Delivered
    
    When Required
    
    RepresentationCounterparty and
Dealer
    
    Evidence of the
authority and true
signatures of each
official or
representative signing
this Confirmation
    
    Upon or before
execution and
delivery of this
Confirmation
    
    Yes
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Covered byParty Required to
    
    
    
    
    
    Section 3(d)Deliver Document
    
    Document Required to be Delivered
    
    When Required
    
    RepresentationCounterparty
    
    Certified copy of the
resolution of the
Board of Directors or
equivalent document
authorizing the
execution and delivery
of this Confirmation
and such other
certificates as Seller
shall reasonably
request
    
    Upon or before
execution and
delivery of this
Confirmation
    
    YesCounterparty
    
    An opinion of counsel,
dated as of the
Effective Date and
reasonably acceptable
to Dealer in form and
substance, with
respect to the matters
set forth in Section
3(a) of the Agreement.
    
    Upon or before the
Effective Date
    
    NoDealer
    
    Guarantee of its
Credit Support
Provider,
substantially in the
form of Exhibit A
attached hereto,
together with evidence
of the authority and
true signatures of the
signatories, if
applicable
    
    Upon or before
execution and
delivery of this
Confirmation
    
    No
 Additional Notice Requirements.
 Addresses for Notices. Section 12(a)
 Address for notices or communications to Seller for all purposes:
 Address:
    
    Merrill Lynch International
Merrill Lynch Financial Centre
2 King Edward Street
London EC1A 1HQAttention:
    
    Manager, Fixed Income SettlementsFacsimile No.:
    
    44 207 995 2004Telephone No.:
    
    44 207 995 3769
 Sections 5 6 7
 Address:
    
    GMI Counsel
Merrill Lynch World Headquarters
4 World Financial Center
New York, New York 10080Attention:
    
    Global Equity DerivativesFacsimile No.:
    
    212-449-6576Telephone No.:
    
    212-449-6309
 Address for notices or communications to Counterparty for all purposes:
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##### 



Address:
    
    Mylan Inc.
1500 Corporate Drive
Canonsburg, PA 15317Attention:
    
    Edward J. Borkowski, Chief Financial OfficerFacsimile No.:
    
    (724) 514 1871Telephone No.:
    
    (724) 514 1870
 Multibranch Party.
    
    For the purpose of
Section 10(c) of the Agreement: Neither Seller nor Counterparty is a Multibranch Party.Calculation Agent.
    
    The Calculation Agent is Seller. Upon the request of
either party, the Calculation Agent (or, in the case of
a determination made by a party (including a party
acting as Hedging Party or Determining Party), such
party) shall, no later than the 5th Business Day
following such request, provide the parties with a
statement showing, in reasonable detail, the computations (including any relevant
quotations) by which it has determined
any amount payable or deliverable under, or any adjustment to the terms of,
this Transaction; provided that in no event shall Calculation Agent be
required to disclose its proprietary models or other proprietary
information. All judgments, determinations and calculations hereunder by
the Calculation Agent or by a party hereto shall be performed in good faith
and in a commercially reasonable manner.
 Credit Support Document.
 Collateral Account Control
Agreement
  Credit Support Provider.
   Collateral Provisions
  Pledgor:
    
    DealerSecured Party:
    
    CounterpartyCollateral:
    
    Dealer will pledge Eligible Collateral in an amount and subject to the terms as defined below.Credit Support Amount:
    
    As specified in Paragraph 3 of the Credit Support Annex.
 OTC Convertible Note Hedge (2015)
 17




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##### 



Valuation Date (for purposes
of the CSA):
    
    Every Monday during the term of the TransactionValuation Time:
    
    5:00 PM ESTNotification Time:
    
    10 a.m. on the next Local Business Day after the relevant Valuation DateValuation Agent:
    
    DealerIndependent Amount:
    
    $0Threshold:
    
    Infinity; provided that the Threshold shall be $50,000,000 if, and for so long as, the long-term U.S.
dollar-denominated debt obligations of Dealers Credit Support Provider are rated below A- by
Standard & Poors and below A3by Moodys.Minimum Transfer Amount:
    
    $500,000Custodian:
    
    Merrill Lynch, Pierce, Fenner & Smith Incorporated pursuant to a Collateral Account Control Agreement.Use of Posted Collateral:
    
    The provisions of Paragraph 6(c) of the Credit Support Annex will not apply.Specified Condition:
    
    For purposes of Paragraph 4(a) of the Credit Support Annex, the following Termination Events will be
a Specified Condition with respect to the party that is the Affected Party for such Termination
Event: Illegality, Tax Event, Tax Event Upon Merger, Credit Event Upon Merger, Additional Termination
Events. For purposes of Paragraphs 8(a) and 8(b) of the Credit Support Annex, the following
Termination Events will be a Specified Condition with respect to the party that is the Affected Party
for such Termination Event: Credit Event Upon Merger, Additional Termination Events.Eligible Collateral:
    
    The following Items will qualify as Eligible Collateral:
 ValuationItem:
    
    Percentage:(A) Cash
    
    
    100
    %(B) Negotiable debt obligations issued by the U.S. Treasury
Department having a remaining maturity of not more than one
year
    
    
    100
    %
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 18




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##### 



ValuationItem:
    
    Percentage:(C) Securities with maturities of 90 days or less from the
date of acquisition issued by the U.S., Switzerland, Canada,
England or a member state of the European Union (excluding
Greece, Italy and any Countries with sovereign debt ratings
below Aa1/AA+) or by an instrumentality or agency of the U.S.
government, Switzerland, Canada, England or a member state of
the European Union (excluding Greece, Italy and any Countries
with sovereign debt ratings below Aa1/AA+) having the same
credit rating as its government 100% $50 million maximum per
non-U.S. country
    
    
    100
    %(D) Certificates of deposit and eurodollar time deposits with
maturities of 90 days or less from the date of acquisition and
overnight bank deposits of any commercial bank having stable
ratings of at least A/A-1 by S&P and A2/P-1 by Moodys
    
    
    100
    %(E) Repurchase obligations of any commercial bank satisfying
the requirements of clause (D) of this definition, having a
term of not more than seven days with respect to securities
issued by the U.S. Government
    
    
    100
    %(F) Commercial paper of a corporate issuer having stable
ratings of at least A/A- 1 by S&P and A2/P-1 by Moodys and
maturing within 90 days after the day of acquisition
    
    
    100
    %(G) Securities with maturities of 90 days or less from the
date of acquisition issued by any state, commonwealth or
territory of the U.S., by any political subdivision or taxing
authority of any such state, commonwealth or territory, the
securities of which state, commonwealth, territory, political
subdivision or taxing authority (as the case may be) having
stable ratings of at least A by S&P and A2 by Moodys
    
    
    100
    %(H) Securities with maturities of 90 days or less from the
date of acquisition backed by standby letters of credit issued
by any Lender or any commercial bank satisfying the
requirements of clause (D) of this definition
    
    
    100
    %(I) Shares of money market mutual or similar funds that
conform with Rule 2a-7 of the Investment Companies Act of 1940
and having a minimum asset size of $3 billion which invest
exclusively in assets satisfying the requirements of clauses
(C) through (H) of this definition
    
    
    100
    %
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 19




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##### 



ValuationItem:
    
    Percentage:(J) Non-Callable Agency Debt having a remaining maturity of
not more than one year. For purposes hereof, Non-Callable
Agency Debt means fixed rate, non-callable, non-amortizing
U.S. Dollar-denominated senior debt securities of fixed
maturity in book entry form issued by the Federal Home Loan
Banks (including their consolidated obligations issued through
the Office of Finance of the Federal Home Loan Bank System)
(FHLB), Fannie Mae, the Federal Home Loan Mortgage
Corporation (Freddie Mac) or the Federal Farm Credit Banks
(FFCB)
    
    
    99
    %(K) Non-Callable Agency Discount Notes having a remaining
maturity of not more than twelve months. For purposes hereof,
Non-Callable Agency Discount Notes means non-callable U.S.
Dollar denominated discount notes sold at a discount from
their principal amount payable at maturity with an original
maturity of 360 days or less in book entry form and issued by
Fannie Mae, Freddie Mac, FHLB or FFCB
    
    
    99
    %(L) Callable Agency Debt having a remaining maturity of not
more than one year. For purposes hereof, Callable Agency
Debt means fixed-rate, callable non-amortizing U.S.
Dollar-denominated senior debt securities in book entry form
issued by FHLB, Fannie Mae or Freddie Mac
    
    
    99
    %(M) Negotiable debt obligations issued by the U.S. Treasury
Department having a remaining maturity of more than one year
but not more than ten years
    
    
    99
    %(N) Non-Callable Agency Debt and Callable Agency Debt having a
remaining maturity of more than one year but not more than ten
years
    
    
    98
    %(O) Negotiable debt obligations issued by the U.S. Treasury
Department having a remaining maturity of more than ten years
    
    
    98
    %(P) Non-Callable Agency Debt and Callable Agency Debt having a
remaining maturity of more than ten years
    
    
    97
    %(Q) Corporate Debt having stable ratings of AA or better by
Standard & Poors and Aa2 or better by Moodys having a
remaining maturity of less than 1 year or as otherwise
mutually agreed by the Parties and listed in Attachment Q1
having a remaining maturity of less than one year
    
    
    97
    %
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##### 



ValuationItem:
    
    Percentage:(R) Securities or other financial obligations of the Issuer of
the Shares, including without limitation, equity securities,
debt securities, convertible bonds, derivatives contracts and
any other financial instruments.
    
    
    100
    %(S) Securities or other financial obligations of corporations
(other than the Issuer of the Shares), including without
limitation, equity securities, debt securities, convertible
bonds and any other financial instruments.
    
    
    70
    %
 Governing Law.
 Submission to Jurisdiction
 Waiver of Jury Trial.
 Netting of Payments. Section 2(c)
 Basic Representations. Section 3(a) Section 3(a)(iv); Section 3(a)(v) Sections 3(a)(vi),
 Eligible Contract Participant; Line of Business. ( CEA ),
 Acknowledgements:
 (a)
    
    The parties acknowledge and agree that there are no other representations, agreements or
other undertakings of the parties in relation to this Transaction, except as set forth in this
Confirmation and the Agreement.(b)
    
    The parties hereto intend for:
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##### 



(i)
    
    Seller to be a financial institution as defined in Section 101(22) of Title
11 of the United States Code (the Bankruptcy Code)and this Transaction to be
a securities contract as defined in Section 741(7) of the Bankruptcy Code and a swap
agreement as defined in Section 101(53C) of the Bankruptcy Code, qualifying for the
protections of, among other sections, Sections 362(b)(6), 362 (b)(17), 546(e), 546(g),
555 and 560 of the Bankruptcy Code;(ii)
    
    a partys right to liquidate this Transaction and to exercise any other
remedies upon the occurrence of any Event of Default under the Agreement with respect
to the other party to constitute a contractual right as defined in the Bankruptcy
Code;(iii)
    
    all payments for, under or in connection with this Transaction, all payments
for the Shares and the transfer of such Shares to constitute settlement payments as defined in the
Bankruptcy Code.
 Amendment of Section 6(d)(ii). Section 6(d)(ii)
 Consent to Recording.
 Disclosure.
 Severability. provided, however, Section 2 5 6 13 Section
14
 Affected Parties. Section 6(e)
 OTC Convertible Note Hedge (2015)
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##### 



Signatures follow on separate page
 OTC Convertible Note Hedge (2015)
 23




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##### 



Very truly yours,MERRILL LYNCH INTERNATIONALBy:
    
    /s/ David RoyceName:
    
    David RoyceTitle:
    
    Authorized Signatory
 Confirmed as of the date first above written:MYLAN INC.By:
    
    /s/ Edward J. BorkowskiName:
    
    Edward J. BorkowskiTitle:
    
    Executive Vice President and
Chief Financial Officer
    By: 
Name:
    
    /s/ Fran Jacobson

Fran JacobsonTitle:
    
    Authorized Signatory




---



##### 



EXHIBIT A
 GUARANTEE OF MERRILL LYNCH & CO., INC.




---



##### 



MERRILL LYNCH & CO., INC.By:
    /s/ Patricia KroplewnickiName:
    Patricia KroplenickiTitle:
    Designated SignatoryDate:
    September 9, 2008