Mylan (MYL) to Invest $100M in Irish Expansion

Irish Prime Minister Enda Kenny, Mylan Inc. (Nasdaq: MYL) and the Irish Development Authority (IDA) today announced an important investment initiative to expand Mylan's operations in Dublin and Galway. Through Mylan's annual investment of up to 76 million euro ($100 million) over the next five years, including funding for expanded research and development (R&D) capabilities, and support from the Irish government through IDA, Mylan will add more than 500 new positions to its Ireland-based workforce by 2016. Mylan currently is the largest generics pharmaceutical manufacturer in Ireland and one of the world's leading pharmaceutical companies. The IDA is the Irish agency responsible for attracting foreign direct investment to the country.

Mylan currently employs about 700 people at its facilities in Ireland. The planned expansion of Mylan's operations in Ireland involves R&D and manufacturing capabilities within the company's respiratory, injectables and oral solids franchises.

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