ADD BW1216 (MYLAN) Mylan announces first quarter results.

PITTSBURGH--(BUSINESS WIRE)--July 23, 1996--Mylan Laboratories Inc. (NYSE:MYL) announced its revenues today for the first quarter of fiscal 1997 which ended June 30, 1996.

Sales for the three month period were $98,543,000 versus $109,192,000 for the same period last year.

Net earnings are $14,011,000 against $33,167,000 and earnings per share are $.12 versus $.28 for last year's first quarter.

Sales and net earnings are down from the equivalent period last year because of the continuing pricing pressure on the company's generic product line.

However, your company did receive two approvals recently: Generic Dyazide was received in mid June and Nicardipine, which is the generic version of Cardene(R), was announced July 19th.

Marketing and distribution has begun on both of these products. -0-

                Mylan Laboratories Inc. and Subsidiaries
                   Consolidated Statements of Earnings
             For the Three Months Ended June 30, 1996 and 1995
                                Unaudited

                           1996                   1995

Net sales             $ 98,543,000             $109,192,000
Cost and expenses:
Cost of sales           55,779,000               50,628,000
Research and
 development            10,531,000                8,174,000
Selling and
 administrative         21,251,000               14,003,000
                        87,561,000               72,805,000
Equity in earnings
  of Somerset            5,043,000                5,571,000
Other income             3,992,000                3,963,000
Earnings before
 income taxes           20,017,000               45,921,000
Income tax rate             30%                      28%
Income taxes             6,006,000               12,754,000
Net earnings          $ 14,011,000            $  33,167,000
Earnings per share    $        .12            $         .28
Weighted average
 common shares         121,868,000              119,265,000

    The company paid regular quarterly cash dividends of $.03 per
share from October 1994 to July 1995, and $.04 per share since October
1995.
     Mylan's 50% share of the net sales of Somerset for the three
months ended June 30, 1996 and 1995 was $15,072,000 and $11,499,000
respectively.  Somerset's contribution to our net earnings for each
three month period was $.04 per share.
     The above financial statements give retroactive effect to the
three-for-two stock split effective August 15, 1995.
-0-
               Mylan Laboratories Inc. and Subsidiaries
                 Comparative Condensed Balance Sheets
                       June 30, 1996 and 1995
                              Unaudited

                                       1996          1995
                                         (In thousands)
Assets
 Current assets:
   Cash                              $186,710     $141,792
   Marketable securities               10,633       50,514
   Accounts receivable                 64,464       65,720
   Inventories                        102,777       76,587
   Deferred tax benefit - current      14,166        9,157
   Other current assets                 5,771        4,236
      Total current assets            384,521      348,006

Property, plant and equipment -
 at cost less
  Accumulated depreciation            127,492       95,264
Investments in and advances to
 Somerset                              28,744       22,493
Deferred tax benefit, non-current         --         1,459
Marketable securities, non-current     22,236       25,897
Intangible and other assets           148,748       78,387
          Total assets               $711,741     $571,506
Working capital                      $325,151     $296,765
Current ratio                        6.5 to 1     6.8 to 1

Liabilities and Shareholders' Equity
 Current liabilities:
   Cash dividend payable             $  4,883     $  3,978
   Accounts payable and other
    current liabilities                54,487       47,263
   Total current liabilities           59,370       51,241
Deferred tax liability                  8,412          --
Long-term obligations                  18,411        7,807
Common stock and additional paid-in
 capital                              147,842       97,901
Unrealized gain on investment             962        1,576
Retained earnings                     479,272      415,402
                                      628,076      514,879

Less treasury stock -                   2,528        2,421
  Net worth                           625,548      512,458
  Total liabilities & shareholders'
   equity                            $711,741     $571,506
Book value per share                 $   5.13     $   4.30

CONTACT: Mylan Labs, Pittsburgh

Patricia Sunseri, 412/232-0100