8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 
 

Form 8-K

 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of

The Securities Act of 1934

 
 
 

Date of Report (Date of earliest event reported): January 7, 2003          

 

MYLAN LABORATORIES INC.

(Exact name of registrant as specified in its charter)

 
 

Pennsylvania	1-9114	25-1211621
(State or other jurisdiction of incorporation)	(Commission File Number)	(I.R.S Employer Identification No.)

130 Seventh Street,
1030 Century Building,
Pittsburgh, PA 15222

(Address of Principal Executive Offices)

 
 

Registrant's telephone number, including area code: (412) 232-0100          

Item 5. Other Events.

        On January 7, 2003, the Registrant issued a press release entitled “Mylan Announces Three-For-Two Stock Split,” a copy of which is attached hereto as Exhibit 99.1, and incorporated herein by reference.

Item 7. Financial Statements and Exhibits.

     (a)     Financial statements of businesses acquired.

              None.

     (b)     Pro forma financial information.

              None.

     (c)     Exhibits.

              99.1   News Release dated January 7, 2003.

SIGNATURES

        Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

          MYLAN LABORATORIES INC.          

          By:   /s/ Roger L. Foster          
                 Roger L. Foster           
                 Secretary           

DATE:   January 13, 2003
Pittsburgh, Pennsylvania

EX-99

NEWS RELEASE						     FOR IMMEDIATE RELEASE


FOR: 	Mylan Laboratories Inc.				For Further Information
	    1030 Century Building				CONTACT: Patricia Sunseri
	    Pittsburgh, PA  15222						 412-232-0100

Mylan Announces Three-for-Two Stock Split

Pittsburgh, PA - January 7, 2003 - Mylan Laboratories Inc. (NYSE: MYL) announced today that the Board of Directors has approved a three-for-two stock split of the Company's common shares. The split will be effected by issuing one additional share of common stock for every two shares of common stock held. The additional shares will be distributed on January 27, 2003, to holders of record at the close of business on January 17, 2003. Fractional share amounts resulting from the split will be paid to shareholders in cash.

"This represents the tenth stock split in Mylan's history," stated Vice Chairman and CEO, Robert J. Coury. Coury further stated, "This decision is a reflection of the Board of Directors' and management's confidence in Mylan's future. We continue to see strong fundamentals in our core generic business and we expect to continue expansion of our branded business through internal and external opportunities."

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.