Mylan boosts EPS guidance

PITTSBURGH — Mylan has increased its 2012 earnings per share guidance range, the generic drug maker said.

The company boosts its EPS guidance range to $2.45 to $2.55 in adjusted diluted earnings per share, up from $2.30 to $2.50 per share. All of Mylan's other 2012 guidance metrics remain unchanged.

In related news, Mylan also announced that its board of directors has approved the repurchase of up to $500 million of the company's common stock in the open market.

"As we have said previously, we expect 2012 to be the best year to date in Mylan's history. The increase in our guidance is a result of our continued strong operational performance," Mylan CEO Heather Bresch said.