UPDATE 1-Mylan Q4 earnings fall with EpiPen sales, weak generic prices

By Kitco News / February 28, 2018 / www.kitco.com / Article Link

(Adds details on quarterly revenue, eanrings forecast)

NEW YORK, Feb 28 (Reuters) - Mylan NV said on Wednesday its fourth-quarter earnings fell due to declining revenue from its EpiPen emergency allergy injector and weak U.S. prices for generic drugs.

The drugmaker reported net income of $244.3 million, or 46 cents a share, in the quarter, down from $417.5 million, or 78 cents a share, last year.

Excluding one-time items, the company said it earned $1.43 a share. Analysts on average were expecting $1.41, according to Thomson Reuters I/B/E/S.

Revenue in the quarter fell 1 percent to $3.24 billion, coming in below the average analyst expectation of $3.3 billion.

Mylan forecast adjusted earnings per share in the range of $5.20 to $5.60 for 2018, in line with analyst estimates.


(Reporting by Michael Erman Editing by Chris Reese and Tom Brown)

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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