Mylan reports a solid Q2, outpaces analysts' expectations
- Mylan's second-quarter profit was $0.91 per share, beating analysts' expectations by two cents.
- Mylan is the third largest generics company in the world.
- Second-quarter revenues increased by 29% to $2.37 billion.
Mylan's second quarter was strong than expected, which is one of the drivers behind their full-year forecasts, which have been increased from a range of $4.00 to $4.30, to $4.15 to $4.35. Mylan saw the strongest sales in the specialty division, with the EpiPen emerging as a star performer.
Generic sales were up 34% to $2.06 billion, and Mylan's stock was up 1%. As a top generics company, Mylan is benefiting the the movement towards greater reliance on pharmaceuticals as a cost-saving measure. Given recent performance and the fact that Mylan is active in the M&A arena, the company is positioned to continue growing.