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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
05/29/201217:52:10FDA Warns About Fake Version Of Teva's ADHD Drug Adderall
05/29/201217:47:50Pronova Wins Heart-Drug Patent Case Against Teva, Par Pharma
05/24/201209:38:21Teva Pharma Reduces 2012 Guidance On Lower Generics View
05/17/201215:17:50FDA Approves Generic Versions Of Blood Thinning Drug Plavix
05/09/201207:17:36Teva Profit Surges In First Quarter On Branded, Generic Drug...
04/30/201203:04:09Consort Gets FDA Approval For Its Integrated Dose Counter
04/26/201210:12:05Mylan 1Q Profit Rises 24%; EpiPen Settlement Reached With Teva
04/24/201208:26:02Watson, Actavis To Unveil EUR4.5 Billion Merger Deal Wednesday
04/05/201213:24:34Mylan Seeks To Overturn FDA's Provigil Decision
04/03/201202:15:49Glenmark Unit Gets US OK To Sell Copy Of Contraceptive Drug
03/29/201218:40:14US Court Rules For AstraZeneca's Seroquel XR Patent
03/29/201206:32:55Teva Revises Pricing On Euro 7-year Bond To Swaps +1.05 Area
03/28/201217:53:08Myriad Genetics Enters Testing Agreement With Teva Subsidiary
03/26/201204:57:02AstraZeneca Loses Bid To Delay Generics Of Seroquel In US Market
03/21/201212:59:07Drug Maker Watson To Buy Actavis For About EUR4.5 Billion - Source
03/21/201210:55:24Teva Pharmaceutical To Switch Listing To NYSE In May
03/14/201214:58:34Teva Receives FDA Approval For Generic Lexapro For Adults
03/08/201210:10:11Teva: FDA Approves Dose Counter For ProAir HFA Asthma Drug
02/21/201207:50:17Mylan 4Q Net Soars On Year-Earlier Items, Improved Margins
02/15/201212:54:13FDA Approves BioSante Gel for Male Low Testosterone; Shares Up

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