Mylan Reaches Final Agreement with Bristol-Myers SquibbPITTSBURGH, Feb 20, 2003 (BUSINESS WIRE) -- Mylan Laboratories Inc. (NYSE: MYL) today announced that it has reached a final agreement with Bristol-Myers Squibb (BMS), which resolves all disputes between the companies related to buspirone.

Under the terms of the agreement, Mylan received $35 million and non-exclusive, paid-up, royalty free, irrevocable licenses under any applicable BMS patents to manufacture, market and sell buspirone in the United States.

"We are pleased to have resolved our dispute with BMS and bring closure to this issue," stated Robert J. Coury, Vice Chairman and CEO of Mylan Laboratories Inc.

Mylan Laboratories Inc. is a leading pharmaceutical company that develops, manufactures and markets generic and proprietary prescription products. Mylan has two operating segments that market an extensive line of generic and branded products through four business units: Mylan Pharmaceuticals Inc., Mylan Technologies Inc., UDL Laboratories, Inc. and Bertek Pharmaceuticals Inc. For more information about Mylan, visit www.mylan.com.

This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Because such statements are subject to risks and uncertainties, actual future results may differ materially from those expressed or implied by such forward-looking statements. We refer you to the risk factors and other disclosures contained in our periodic SEC filings. We undertake no duty to update our forward-looking statements, even though our situation may change in the future.

CONTACT:          Mylan Laboratories Inc.
                  Kris King, 412/232-0100

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