EpiPen scandal hits Mylan's third-qtr results

10 November 2016

Netherlands-based drugmaker Mylan (Nasdaq: MYL) has reported a $119.8 million loss for the third quarter of 2016.

This amounts to a diluted loss of $0.23 per share and compares to a $428.6 million profit in the same quarter of 2015, when the earnings per share figure was $0.83.

The main reason for the dramatic change was Mylan agreeing to pay a $465 million settlement to the US Department of Justice and other agencies after the company was accused of overcharging Medicaid for its EpiPen EpiPen (epinephrine) auto-injector.

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