S&P rates Mylan BBB-

Standard & Poor's said it assigned its BBB- corporate credit rating to Mylan Laboratories Inc., which has announced a $1.25 billion share repurchase program.

The outlook is stable.

The rating is based on Mylan's solid position in the growing generic drug industry, the promising prospects associated with nebivolol and a moderate financial risk profile, the agency said.

These factors, though, are partly mitigated by increasing challenges facing the already competitive industry and rapid development, S&P added.

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