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Mylan Q1 revenue up 17%, maintains FY view

pharmafile | May 3, 2016 | News story | Manufacturing and Production, Sales and Marketing Financial, Mylan, Q1, results, revenue, sales 

Pharma firm Mylan NV (Nasdaq: MYL) on Tuesday reported a 17% rise in first-quarter revenue and said it maintains its full year outlook.

The company reaffirmed 2016 total revenues outlook of $10.5 billion to $11.5 billion up 16% versus 2015. The company said it still sees 2016 adjusted earnings per share of $4.85 to $5.15.

Revenue for the quarter ended March 31 rose to $2.19 billion from $1.87 billion a year earlier.

First-quarter net income fell to $13.9 million, or 0.3 cents per share, from $56.6 million, or 14 cents per share, a year earlier.

Chief Executive Heather Bresch says: “Based on our first quarter performance, we remain highly confident in our guidance and our business outlook for the full year 2016. Despite much external focus and discussion of the pricing environment, consistent with our previously communicated 2016 guidance and given Mylan’s position as a large-scale, differentiated player, we continue to see nothing out of the ordinary to change our generic pricing assumptions of low- to mid-single digit erosion for the full year.”

Anjali Shukla

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