Mylan 8-K Mylan Reports First Quarter Fiscal 2006 Financial Results

Exhibit 99.2

Mylan Laboratories Inc. and Subsidiaries
Condensed Consolidated Statements of Earnings
(unaudited; in thousands, except per share amounts)

	Three Months Ended
	June 30, 2005		June 30, 2004
Net revenues	$	323,378	$	339,012
Cost of sales		155,424		159,259
Gross profit		167,954		179,753
Operating expenses:
Research and development		25,087		21,495
Selling, general and administrative		71,302		57,746
Litigation, net		12,000		(25,985	)
Total operating expenses		108,389		53,256
Earnings from operations		59,565		126,497
Other income, net		5,556		686
Earnings before income taxes		65,121		127,183
Provision for income taxes		22,206		45,150
Net earnings	$	42,915	$	82,033
Earnings per common share:
Basic	$	0.16	$	0.31
Diluted	$	0.16	$	0.30
Weighted average common shares:
Basic		269,445		268,553
Diluted		273,262		275,409

Mylan Laboratories Inc. and Subsidiaries
Condensed Consolidated Balance Sheets
(unaudited; in thousands)

	June 30, 2005		March 31, 2005
Assets:
Current assets:
Cash and cash equivalents	$	342,833	$	137,733
Marketable securities		543,929		670,348
Accounts receivable, net		269,121		297,334
Inventories		261,123		286,267
Other current assets		149,689		136,770
Total current assets		1,566,695		1,528,452
Non-current assets		620,336		607,221
Total assets	$	2,187,031	$	2,135,673
Liabilities:
Current liabilities	$	264,102	$	245,507
Non-current liabilities		42,802		44,230
Total liabilities		306,904		289,737
Total shareholders’ equity		1,880,127		1,845,936
Total liabilities and shareholders’ equity	$	2,187,031	$	2,135,673