Mylan rebounds with strong 4th-qtr results and 2017 guidance
The full-year and fourth quarter 2016 financial results statement from generics and specialty drugmaker Mylan (Nasdaq: MYL) appear to show the company has left its EpiPen troubles behind.
The Netherlands-incorporated firm beat analysts’ revenue and profit expectations for the fourth quarter of 2016. Sales were bolstered by strong performance from recently acquired Meda, the Swedish speciality pharmaceutical firm. The company’s share price charged up 7% as investors digested the news.
Mylan reported revenues of $3.3 billion for the fourth quarter of 2016, up 31% compared to the same period in 2015. Following generally accepted accounting principles (GAAP), the earnings per share (EPS) figure was $0.78, more than double the previous year. Gross profit was $1.3 billion, up from $1 billion.
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