By Josh Beckerman
Mylan Inc. said fourth-quarter profit rose 5% as the drug
company said it had an "exceptional" quarter.
For 2015, the company expects earnings excluding items of $4 to
$4.30 a share on revenue of $9.6 billion to $10.1 billion. Analysts
polled by Thomson Reuters expected $4.16 and $9.81 billion.
Mylan shares fell 2.6% to $56.40 in after-hours trading.
Mylan said its full year was "outstanding," as the EpiPen
Auto-Injector became Mylan's first $1 billion product.
Total operating expenses rose to $576.5 million from $522.7
million. The company said EpiPen sales and marketing costs and
legal and marketing costs for new products contributed to its
higher expenses.
Mylan launched a generic version of Celebrex in December. Mylan
also has been planning a generic equivalent of multiple-sclerosis
treatment Copaxone, but the U.S. Supreme Court ruled in favor of
Teva Pharmaceuticals Industries Ltd. in a patent case in February,
a setback for Mylan and others hoping to launch generic versions of
the Teva drug.
Last month, Mylan bought part of Abbott Laboratories'
generic-drugs business for $5.3 billion in a deal structured as a
tax inversion. Mylan also said in February that it agreed to buy
certain women's health-care businesses from India's Famy Care Ltd.
for $750 million in cash, in a move that will position Mylan as a
leading provider of contraceptives in emerging markets.
On Monday, Mylan reaffirmed that it plans to "aggressively
pursue additional acquisition opportunities."
In August, Mylan trimmed the top of its full-year profit and
revenue outlook, citing delays in approvals from the U.S. Food and
Drug Administration for key products, then increased its profit
guidance in October following a strong third quarter.
For the fourth quarter, Mylan reported a profit of $189.2
million, or 47 cents a share, up from $180.2 million, or 45 cents a
share, a year earlier. Excluding restructuring and
acquisition-related impacts and other items, earnings rose to $1.05
a share from 78 cents.
Revenue increased 15% to $2.08 billion.
Mylan had forecast per-share earnings of $1.03 to $1.09.
Analysts surveyed by Thomson Reuters projected revenue of $2.07
billion.
Write to Josh Beckerman at josh.beckerman@wsj.com
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