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Mylan 4Q Net Soars On Year-Earlier Items, Improved Margins

DOW JONES NEWSWIRES Mylan Inc.'s (MYL) fourth-quarter earnings soared from a year-earlier period that was hit by litigation and other items as the pharmaceutical company's margins also improved. Mylan -- the world's third-largest generic-drug maker by sales, after Novartis AG's (NVS, NOVN.VX) generic arm Sandoz and Teva Pharmaceuticals Industries Ltd. (TEVA, TEVA.TV) -- has seen its revenue jump in recent quarters as concerns about the economy spur interest in lower-cost health options. But the company's bottom line has been hampered by litigation and acquisition-related costs of late. Mylan reported a profit of $129.5 million, or 30 cents a share, up from $2.59 million, or 1 cent, a year earlier. Excluding items such as amortization, litigation settlements and restructuring costs, earnings rose to 53 cents from 45 cents. Revenue jumped 6.7% to $1.53 billion. Analysts polled by Thomson Reuters had most recently forecast earnings of 50 cents on revenue of $1.56 billion. Gross margin rose to 42.1% from 40.4%. Sales of generics, which brings in most of the company's revenue, jumped 4.6%, reflecting a 14% rise in North America and a 11% increase in the Asia Pacific region. Shares closed Friday at $23.42 and were inactive premarket. The stock has risen 9.1% so far this year. -By Melodie Warner, Dow Jones Newswires; 212-416-2283; melodie.warner@dowjones.com

Stock News for Teva Pharmaceutical (TEVA)
DateTimeHeadline
03/30/201508:14:08Teva to Acquire Auspex in $3.2 Billion Deal
03/23/201509:59:36Teva Migraine Therapy Shows Positive Results in Phase IIb Study
03/02/201509:50:38Correction to Story About Teva Selling Pennsylvania Facility
03/02/201509:18:27Teva Sells Pennsylvania Facility to G&W Laboratories
02/17/201508:33:57Teva to Distribute Eagle Pharmaceutical's Cancer Drug in U.S.
01/26/201508:10:04FDA Rejects Antares' Application for Generic Migraine Drug
08/19/201401:55:00Gamida Cell Announces Investment and Option Agreement with Major...

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