Mylan 2nd-qtr misses expectations; generic launches delayed

9 August 2017

Netherlands-incorporated Mylan’s (Nasdaq: MYL) shares were down 7.9% at $31.79 in pre-market trading, after the company released second-quarter 2017 financial results which missed expectations, and reduced its full-year guidance. The stock was down 5.8% to $29.94 at 9:41 am.

Total revenue for the quarter was up 16% to $2.96 billion, but missed analysts’ estimates of $3.02 billion. Sales were helped by recent acquisitions, including Meda and Renaissance Acquisition that contributed about $633 million in net sales during the quarter.

North America segment third party net sales of $1.28 billion were down 9%; and up around 4% excluding the decrease in sales of the EpiPen Auto-Injector of approximately $172 million. Europe segment third party net sales were $954.3 million, up 59%.

This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Try before you buy

Free

7 day trial access

Take a Free Trial

All the news that moves the needle in pharma and biotech
Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
Receive The Pharma Letter daily news bulletin, free forever.

Become a subscriber

£820

Or £77 per month

Subscribe Now

Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
Daily roundup of key events in pharma and biotech.
Monthly in-depth briefings on Boardroom appointments and M&A news.
Choose from a cost-effective annual package or a flexible monthly subscription

The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK