Question-and-Answer Session
Operator
Thank you, sir. (Operator Instructions). We will take our first question from Greg Gilbert with Merrill Lynch. Please go ahead.
Greg Gilbert - Merrill Lynch
Thanks. Good morning. My first one Ed, is on gross margin. Can you talk about some of the drivers that led to such an improvement versus the second quarter level? I believe you talked about a two-point improvement, and how sustainable those factors are?
Ed Borkowski
Sure. I think there are a couple of things. I think between the higher fentanyl sales in the quarter, the other product launches that we had in the quarter on the generic side, and also don't forget the Dey side as well with performance continuing to grow as well as the strong quarter for EpiPen, those are really the components that drove the quarter.
Greg Gilbert - Merrill Lynch
My second question, Ed, is on currency. You touched on in this your last comment there, but can you talk about what your assumptions are for '09 there and walk us through your exposure and to what extent you are naturally hedged?
Ed Borkowski
There is a couple things I think with currency, obviously currency continues to fluctuate on a daily basis practically and we obviously don't rerun the numbers on a daily basis. We have rerun '09 on the more recent, let's say stronger dollar numbers, and we do get a fairly nice protection from the Euro LIBOR borrowings that we have. It does mute the effect. What I will say is, we have been able to accommodate, let's say those currency headwinds, if you will within our ranges as we also continue to look at our business as it develops, as it unfolds, so in terms of currency we have updated them, and we believe at this point in time we have been able to include them or incorporate them into our guidance as it stands.
Greg Gilbert - Merrill Lynch
We'll get that revenue guidance in early '09?
Ed Borkowski
That's correct.
Greg Gilbert - Merrill Lynch
Thanks.
Operator
We will take our next question from Ken Cacciatore with Cowen and Company. Please go ahead.
Ken Cacciatore - Cowen and Company
Hi, good morning guys. Just a couple of questions, but first there's been some concern on Keppra launch timing and whether you can secure your own approval. Can you just talk about in the case that you cannot secure your own approval? Are there any provisions there? Also on fentanyl, just maybe an early read on Teva's introduction into the marketplace and how you see the market playing out. I understand your guidance and sounds as it could be conservative, but maybe some of the dynamics that are playing out early on in that introduction?
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