Mylan dips as revenues miss expectations

1 March 2018

Shares of Netherlands-incorporated Mylan (Nasdaq: MYL) fell 1.92% to $40.32 late Wednesday, after the company posted 2017 financial results with better-than-expected adjusted earnings per share but revenues missed analysts’ forecasts.

Total revenues for the fourth quarter were $3.24 billion, down 1% compared to the prior year period and lower the consensus estimates of $3.31 billion. In the quarter, Mylan recorded North American third-party revenue of $1.3 billion, down 17%; and around 8% lower excluding the decrease in sales of the EpiPen Auto-Injector of approximately $131.9 million

Excluding one-time items, the company said it earned $1.43 a share. Analysts on average were expecting $1.41, according to Thomson Reuters

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