PITTSBURGH, Jan. 8 /PRNewswire-FirstCall/ -- Mylan Inc. (Nasdaq: MYL) today announced that, in late December 2009, the company pre-paid $196 million in bank term-loan borrowings that were due in 2011. As a result, the company has no term-loan obligations coming due until 2012.
Mylan Chairman and CEO Robert J. Coury said: "The accelerated payment of our 2011 bank term-loan maturities reflects our continued strong operating cash flows and our continuing effort to aggressively de-lever our balance sheet."
Separately, the company announced that, during the fourth quarter of 2009, it realized litigation-related cash recoveries in excess of $52 million.
Mylan Inc. ranks among the leading generic and specialty pharmaceutical companies in the world and provides products to customers in more than 140 countries and territories. The company maintains one of the industry's broadest and highest quality product portfolios supported by a robust product pipeline; operates one of the world's largest active pharmaceutical ingredient manufacturers; and runs a specialty business focused on respiratory, allergy and psychiatric therapies. For more information, please visit www.mylan.com.
SOURCE Mylan Inc.