logo-loader
viewMylan Inc.

Mylan's fourth quarter earnings beat expectations but revenue undershoots forecasts

"2018 will be a year of execution", said president Rajiv Malik

EpiPen
EpiPen revenues fell in the fourth quarter

Pharmaceutical company Mylan NV (NASDAQ:MYL) reported better-than-expected fourth quarter earnings but revenue missed expectations due to weak US prices for generic drugs and lower sales of its EpiPen emergency injector.

Net income fell to US$244.3mln, or 46 cents a share, in the quarter, from US$417.5mln, or 78 cents, a year ago.

Excluding one-time items, the group earned US$1.43 a share, beating analysts’ estimates of US$1.41.

Revenue declined 1% to US$3.24bn, below market forecasts of US$3.3bn.

The company expects adjusted earnings per share of US$5.20 to US$5.60 and revenue of US$11.75bn to US$13.25bn for 2018.

"2018 will be a year of execution, including our expectation of significant launches such as generic Advair in the US and pegfilgrastim, our first biosimilar launch in the U.S., insulin glargine in Europe and hundreds more across the globe," said president Rajiv Malik.

"We will continue to execute integration activities to further optimise our cost structure. At the same time, we will be strategically reinvesting in our business, especially in areas such as sales and marketing and lifecycle management of several global key products, all supported by our ONE Mylan approach across geographies and channels."

Shares rose 3.3% to US$40.32 each in US pre-market trade.

Quick facts: Mylan Inc.

Price: 21.85 USD

NASDAQ:MYL
Market: NASDAQ
Market Cap: $11.28 billion
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Full interview: De Grey Mining strikes wide gold mineralisation zone in...

De Grey Mining Ltd (ASX:DEG) executive chairman Simon Lill updates Proactive on new gold mineralisation defined at the Buckle prospect in W.A.’s Pilbara region, after first drilling. RC drilling is now planned to commence in February to determine further resource potential of the exciting new...

1 day, 22 hours ago

2 min read