UNITED STATES

SECURITIES AND EXCHANGE
COMMISSION

Washington, D.C. 20549

SCHEDULE 13G

o

Rule 13d-1(b)

ý

Rule 13d-1(c)

o

Rule 13d-1(d)

CUSIP No. 628530107

Page 2 of 17 Pages

1.

Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only)
Citadel Limited Partnership

2.

Check the Appropriate Box if a Member of a Group (See Instructions)

(a)

o

(b)

o

3.

SEC Use Only

4.

Citizenship or Place of Organization
Illinois limited partnership
U.S.A.

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

5.

Sole Voting Power
0

6.

Shared Voting Power 
11,951,193 shares of Common Stock

1,568 call options (exercisable into 170,700 shares of Common Stock)

7.

Sole Dispositive Power 
0

8.

Shared Dispositive Power
See Row 6 above.

9.

Aggregate Amount Beneficially Owned by Each Reporting Person
See Row 6 above.

10.

Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)  o

11.

Percent of Class Represented by Amount in Row (9)
Approximately 4.5% as of the date of this filing (based on 268,733,386 shares of Common Stock issued and outstanding as of August 3, 2004).

12.

Type of Reporting Person (See Instructions)
PN; HC

CUSIP No. 628530107

Page 3 of 17 Pages

1.

Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only)
GLB Partners, L.P.

2.

Check the Appropriate Box if a Member of a Group (See Instructions)

(a)

o

(b)

o

3.

SEC Use Only

4.

Citizenship or Place of Organization
Delaware limited partnership
U.S.A.

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

5.

Sole Voting Power
0

6.

Shared Voting Power 
11,951,193 shares of Common Stock

1,568 call options (exercisable into 170,700 shares of Common Stock)

7.

Sole Dispositive Power 
0

8.

Shared Dispositive Power
See Row 6 above.

9.

Aggregate Amount Beneficially Owned by Each Reporting Person
See Row 6 above.

10.

Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)  o

11.

Percent of Class Represented by Amount in Row (9)
Approximately 4.5% as of the date of this filing (based on 268,733,386 shares of Common Stock issued and outstanding as of August 3, 2004).

12.

Type of Reporting Person (See Instructions)
PN; HC

CUSIP No. 628530107

Page 4 of 17 Pages

1.

Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only)
Citadel Investment Group, L.L.C.

2.

Check the Appropriate Box if a Member of a Group (See Instructions)

(a)

o

(b)

o

3.

SEC Use Only

4.

Citizenship or Place of Organization
Delaware limited liability company

U.S.A.

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

5.

Sole Voting Power
0

6.

Shared Voting Power 
11,951,193 shares of Common Stock

1,568 call options (exercisable into 170,700 shares of Common Stock)

7.

Sole Dispositive Power 
0

8.

Shared Dispositive Power
See Row 6 above.

9.

Aggregate Amount Beneficially Owned by Each Reporting Person
See Row 6 above.

10.

Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)  o

11.

Percent of Class Represented by Amount in Row (9)
Approximately 4.5% as of the date of this filing (based on 268,733,386 shares of Common Stock issued and outstanding as of August 3, 2004).

12.

Type of Reporting Person (See Instructions)
OO; HC

CUSIP No. 628530107

Page 5 of 17 Pages

1.

Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only)
Kenneth Griffin

2.

Check the Appropriate Box if a Member of a Group (See Instructions)

(a)

o

(b)

o

3.

SEC Use Only

4.

Citizenship or Place of Organization
U.S. Citizen
U.S.A.

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

5.

Sole Voting Power
0

6.

Shared Voting Power 
11,951,193 shares of Common Stock

1,568 call options (exercisable into 170,700 shares of Common Stock)

7.

Sole Dispositive Power 
0

8.

Shared Dispositive Power
See Row 6 above.

9.

Aggregate Amount Beneficially Owned by Each Reporting Person
See Row 6 above.

10.

Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)  o

11.

Percent of Class Represented by Amount in Row (9)
Approximately 4.5% as of the date of this filing (based on 268,733,386 shares of Common Stock issued and outstanding as of August 3, 2004).

12.

Type of Reporting Person (See Instructions)
IN; HC

CUSIP No. 628530107

Page 6 of 17 Pages

1.

Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only)
Citadel Wellington Partners L.P.

2.

Check the Appropriate Box if a Member of a Group (See Instructions)

(a)

o

(b)

o

3.

SEC Use Only

4.

Citizenship or Place of Organization
Illinois limited partnership
U.S.A.

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

5.

Sole Voting Power
0

6.

Shared Voting Power 
11,951,193 shares of Common Stock

1,568 call options (exercisable into 170,700 shares of Common Stock)

7.

Sole Dispositive Power 
0

8.

Shared Dispositive Power
See Row 6 above.

9.

Aggregate Amount Beneficially Owned by Each Reporting Person
See Row 6 above.

10.

Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)  o

11.

Percent of Class Represented by Amount in Row (9)
Approximately 4.5% as of the date of this filing (based on 268,733,386 shares of Common Stock issued and outstanding as of August 3, 2004).

12.

Type of Reporting Person (See Instructions)
PN; HC

CUSIP No. 628530107

Page 7 of 17 Pages

1.

Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only)
Citadel Wellington Partners L.P. SE

2.

Check the Appropriate Box if a Member of a Group (See Instructions)

(a)

o

(b)

o

3.

SEC Use Only

4.

Citizenship or Place of Organization
Delaware limited partnership
U.S.A.

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

5.

Sole Voting Power
0

6.

Shared Voting Power 
11,951,193 shares of Common Stock

1,568 call options (exercisable into 170,700 shares of Common Stock)

7.

Sole Dispositive Power 
0

8.

Shared Dispositive Power
See Row 6 above.

9.

Aggregate Amount Beneficially Owned by Each Reporting Person
See Row 6 above.

10.

Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)  o

11.

Percent of Class Represented by Amount in Row (9)
Approximately 4.5% as of the date of this filing (based on 268,733,386 shares of Common Stock issued and outstanding as of August 3, 2004).

12.

Type of Reporting Person (See Instructions)
PN; HC

CUSIP No. 628530107

Page 8 of 17 Pages

1.

Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only)
Citadel Kensington Global Strategies Fund Ltd.

2.

Check the Appropriate Box if a Member of a Group (See Instructions)

(a)

o

(b)

o

3.

SEC Use Only

4.

Citizenship or Place of Organization
Bermuda company

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

5.

Sole Voting Power
0

6.

Shared Voting Power 
11,951,193 shares of Common Stock

1,568 call options (exercisable into 170,700 shares of Common Stock)

7.

Sole Dispositive Power 
0

8.

Shared Dispositive Power
See Row 6 above.

9.

Aggregate Amount Beneficially Owned by Each Reporting Person
See Row 6 above.

10.

Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)  o

11.

Percent of Class Represented by Amount in Row (9)
Approximately 4.5% as of the date of this filing (based on 268,733,386 shares of Common Stock issued and outstanding as of August 3, 2004).

12.

Type of Reporting Person (See Instructions)
CO; HC

CUSIP No. 628530107

Page 9 of 17 Pages

1.

Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only)
Citadel Equity Fund Ltd.

2.

Check the Appropriate Box if a Member of a Group (See Instructions)

(a)

o

(b)

o

3.

SEC Use Only

4.

Citizenship or Place of Organization
Cayman Islands company

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

5.

Sole Voting Power
0

6.

Shared Voting Power 
11,951,193 shares of Common Stock

1,568 call options (exercisable into 170,700 shares of Common Stock)

7.

Sole Dispositive Power 
0

8.

Shared Dispositive Power
See Row 6 above.

9.

Aggregate Amount Beneficially Owned by Each Reporting Person
See Row 6 above.

10.

Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)  o

11.

Percent of Class Represented by Amount in Row (9)
Approximately 4.5% as of the date of this filing (based on 268,733,386 shares of Common Stock issued and outstanding as of August 3, 2004).

12.

Type of Reporting Person (See Instructions)
CO

CUSIP No. 628530107

Page 10 of 17 Pages

1.

Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only)
Citadel Derivatives Group LLC

2.

Check the Appropriate Box if a Member of a Group (See Instructions)

(a)

o

(b)

o

3.

SEC Use Only

4.

Citizenship or Place of Organization
Delaware limited liability company
U.S.A.

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

5.

Sole Voting Power
0

6.

Shared Voting Power 
11,951,193 shares of Common Stock

1,568 call options (exercisable into 170,700 shares of Common Stock)

7.

Sole Dispositive Power 
0

8.

Shared Dispositive Power
See Row 6 above.

9.

Aggregate Amount Beneficially Owned by Each Reporting Person
See Row 6 above.

10.

Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)  o

11.

Percent of Class Represented by Amount in Row (9)
Approximately 4.5% as of the date of this filing (based on 268,733,386 shares of Common Stock issued and outstanding as of August 3, 2004).

12.

Type of Reporting Person (See Instructions)
OO

CUSIP No. 628530107

Page 11 of 17 Pages

1.

Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only)
Citadel Trading Group L.L.C.

2.

Check the Appropriate Box if a Member of a Group (See Instructions)

(a)

o

(b)

o

3.

SEC Use Only

4.

Citizenship or Place of Organization
Delaware limited liability company
U.S.A.

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

5.

Sole Voting Power
0

6.

Shared Voting Power 
11,951,193 shares of Common Stock

1,568 call options (exercisable into 170,700 shares of Common Stock)

7.

Sole Dispositive Power 
0

8.

Shared Dispositive Power
See Row 6 above.

9.

Aggregate Amount Beneficially Owned by Each Reporting Person
See Row 6 above.

10.

Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)  o

11.

Percent of Class Represented by Amount in Row (9)
Approximately 4.5% as of the date of this filing (based on 268,733,386 shares of Common Stock issued and outstanding as of August 3, 2004).

12.

Type of Reporting Person (See Instructions)
OO

CUSIP No. 628530107

Page 12 of 17 Pages

Item 1.

(a)

Name of Issuer
MYLAN LABORATORIES INC.

(b)

Address of Issuer’s Principal Executive Offices
1500 Corporate Drive
Canonsburg, PA 15317

Item 2.

(a)

Name of Person Filing

(b)

Address of Principal Business Office or, if none, Residence

(c)

Citizenship

Citadel Limited Partnership

131 S. Dearborn Street, 32nd Floor

Chicago, Illinois 60603

Illinois limited partnership

GLB Partners, L.P.

131 S. Dearborn Street, 32nd Floor

Chicago, Illinois 60603

Delaware limited partnership

Citadel Investment Group, L.L.C.

131 S. Dearborn Street, 32nd Floor

Chicago, Illinois 60603

Delaware limited liability company

Kenneth Griffin

131 S. Dearborn Street, 32nd Floor

Chicago, Illinois 60603

U.S. Citizen

Citadel Wellington Partners L.P.

c/o Citadel Investment Group, L.L.C.

131 S. Dearborn Street, 32nd Floor

Chicago, Illinois 60603

Illinois limited partnership

Citadel Wellington Partners L.P. SE

c/o Citadel Investment Group, L.L.C.

131 S. Dearborn Street, 32nd Floor

Chicago, Illinois 60603

Delaware limited partnership

CUSIP No. 628530107

Page 13 of 17 Pages

Citadel Kensington Global Strategies Fund Ltd.

c/o Citadel Investment Group, L.L.C.

131 S. Dearborn Street, 32nd Floor

Chicago, Illinois 60603

Bermuda company

Citadel Equity Fund Ltd.

c/o Citadel Investment Group, L.L.C.

131 S. Dearborn Street, 32nd Floor

Chicago, Illinois 60603

Cayman Islands company

Citadel Derivatives Group LLC

c/o Citadel Investment Group, L.L.C.

131 S. Dearborn Street, 32nd Floor

Chicago, Illinois 60603

Delaware limited liability company

Citadel Trading Group L.L.C.

c/o Citadel Investment Group, L.L.C.

131 S. Dearborn Street, 32nd Floor

Chicago, Illinois 60603

Delaware limited liability company

(d)

Title of Class of Securities
Common Stock, par value $0.50 per share

(e)

CUSIP Number
628530107

Item 3.

If this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:

(a)

o

Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o).

(b)

o

Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).

(c)

o

Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c).

(d)

o

Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C 80a-8).

(e)

o

An investment adviser in accordance with §240.13d-1(b)(1)(ii)(E);

(f)

o

An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F);

(g)

o

A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);

CUSIP No. 628530107

Page 14 of 17 Pages

(h)

o

A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);

(i)

o

A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);

(j)

o

Group, in accordance with §240.13d-1(b)(1)(ii)(J).

If this statement is filed pursuant to Rule 13d-1(c), check this box.      ý

Item 4.

Ownership

CITADEL LIMITED PARTNERSHIP
GLB PARTNERS, L.P.
CITADEL INVESTMENT GROUP, L.L.C.
KENNETH GRIFFIN
CITADEL WELLINGTON PARTNERS L.P.
CITADEL WELLINGTON PARTNERS L.P. SE
CITADEL KENSINGTON GLOBAL STRATEGIES FUND LTD.
CITADEL EQUITY FUND LTD.
CITADEL DERIVATIVES GROUP LLC
CITADEL TRADING GROUP L.L.C.

Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1.

(a)

Amount beneficially owned:   

11,951,193 shares of Common Stock

1,568 call options (exercisable into 170,700 shares of Common Stock)

(b)

Percent of class:   

Approximately 4.5% as of the date of this filing (based on 268,733,386 shares of Common Stock issued and outstanding as of August 3, 2004).

(c)

Number of shares as to which the person has:

(i)

Sole power to vote or to direct the vote   

0

(ii)

Shared power to vote or to direct the vote    

See item (a) above.

(iii)

Sole power to dispose or to direct the disposition of   

0

(iv)

Shared power to dispose or to direct the disposition of   

See item (a) above.

The obligation to file this Schedule 13G arose on October 29, 2004. The Reporting Persons have subsequently reduced their beneficial ownership to the currently reported percentage. At no time since October 29, 2004 have the Reporting Persons been the beneficial owners of greater than 10% of the Company's outstanding Common Stock as determined in accordance with Rule 13d of the Securities Exchange Act of 1934.

CUSIP No. 628530107

Page 15 of 17 Pages

Item 5.

Ownership of Five Percent or Less of a Class

Not Applicable.

Item 6.

Ownership of More than Five Percent on Behalf of Another Person

Not Applicable.

Item 7.

Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company or Control Person

See Item 2 above.

Item 8.

Identification and Classification of Members of the Group

Not Applicable.

Item 9.

Notice of Dissolution of Group

Not Applicable.

Item 10.

Certification

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.

* Adam C. Cooper is signing on behalf of Kenneth Griffin as attorney-in-fact pursuant to a power of attorney previously filed with the Securities and Exchange Commission on November 19, 2002, and hereby incorporated by reference herein.  The power of attorney was filed as an attachment to a filing by Citadel Limited Partnership on Form 3 for Metals USA, Inc.

CUSIP No. 628530107

Page 16 of 17 Pages

Dated this 8th day of November, 2004

KENNETH GRIFFIN

By:

/s/ Adam C. Cooper

Adam C. Cooper, attorney-in-fact*

CITADEL LIMITED PARTNERSHIP

CITADEL INVESTMENT GROUP, L.L.C.

By:

GLB Partners, L.P.,

By:

/s/ Adam C. Cooper

its General Partner

Adam C. Cooper, Senior Managing
Director and General Counsel

By:

Citadel Investment Group, L.L.C.,

its General Partner

CITADEL EQUITY FUND LTD.

By:

/s/ Adam C. Cooper

By:

Citadel Limited Partnership,

Adam C. Cooper, Senior Managing

its Portfolio Manager

Director and General Counsel

By:

GLB Partners, L.P.,

GLB PARTNERS, L.P.

its General Partner

By:

Citadel Investment Group, L.L.C.,

By:

Citadel Investment Group, L.L.C.,

its General Partner

its General Partner

By:

/s/ Adam C. Cooper

By:

/s/ Adam C. Cooper

Adam C. Cooper, Senior Managing

Adam C. Cooper, Senior Managing

Director and General Counsel

Director and General Counsel

CITADEL WELLINGTON PARTNERS
L.P.

By:

Citadel Limited Partnership,

its General Partner

By:

GLB Partners, L.P.,

its General Partner

By:

Citadel Investment Group, L.L.C.,

its General Partner

By:

/s/ Adam C. Cooper

Adam C. Cooper, Senior Managing

Director and General Counsel

CUSIP No. 628530107

Page 17 of 17 Pages

CITADEL WELLINGTON PARTNERS
L.P. SE

CITADEL DERIVATIVES GROUP LLC

By:

Citadel Limited Partnership,

By:

Citadel Limited Partnership,

its General Partner

its Managing Member

By:

GLB Partners, L.P.,

By:

GLB Partners, L.P.,

its General Partner

its General Partner

By:

Citadel Investment Group, L.L.C.,

By:

Citadel Investment Group, L.L.C.,

its General Partner

its General Partner

By:

/s/ Adam C. Cooper

By:

/s/ Adam C. Cooper

Adam C. Cooper, Senior Managing

Adam C. Cooper, Senior Managing

Director and General Counsel

Director and General Counsel

CITADEL TRADING GROUP L.L.C.

CITADEL KENSINGTON GLOBAL
STRATEGIES FUND LTD.

By:

Citadel Limited Partnership,

By:

Citadel Limited Partnership,

its Managing Member

its Portfolio Manager

By:

GLB Partners, L.P.,

By:

GLB Partners, L.P.,

its General Partner

its General Partner

By:

Citadel Investment Group, L.L.C.,

By:

Citadel Investment Group, L.L.C.,

its General Partner

its General Partner

By:

/s/ Adam C. Cooper

By:

/s/ Adam C. Cooper

Adam C. Cooper, Senior Managing

Adam C. Cooper, Senior Managing

Director and General Counsel

Director and General Counsel