Mylan third-qtr beats expectations

US generics drugmaker Mylan (Nasdaq: MYL) reported third-quarter 2014 financial results that beat analysts’ consensus forecasts, sending the firm’s share up 3.5% to $54.20.

Total revenues of $2.08 billion increased 18% versus the prior year period, with positive growth across all regions and businesses. This beats analysts’ expectations for revenues of $2.07 billion, according to Zacks Equity Research. Generics segment third party net sales were $1.61 billion, up 15%. Specialty segment third party net sales of $462.0 million, up 29%

Adjusted gross profit of $1.13 billion was up 25%; US generally accepted accounting principles (GAAP) gross profit of $1.01 billion increased 25%. Adjusted diluted earnings per share (EPS) at $1.16, were up 41%, exceeding the $1.14 estimate of analysts surveyed by Zacks; GAAP diluted EPS of $1.26 was up 215%.