Skip to main content

Advertisement

Advertisement

Business

Mylan posts quarterly profit compared to year-earlier loss

Mylan posts quarterly profit compared to year-earlier loss

FILE PHOTO: Logo of Mylan Laboratories, a company primarily engaged in the commercialization of generic drugs is pictured in Merignac near Bordeaux, France, September 19, 2019. REUTERS/Regis Duvignau

REUTERS: Mylan NV reported a second-quarter profit on Thursday, helped in part by strong sales of its newly launched products such as asthma drug Wixela.

The drugmaker reported net earnings of US$39.4 million, or 8 cents per share, in the three months ended June 30, compared to a loss of US$168.5 million, or 33 cents per share, a year earlier.

Total revenue of the company, whose merger with Pfizer Inc's off-patent branded drugs unit has been delayed by the pandemic, fell to US$2.73 billion from US$2.85 billion.

(Reporting by Manojna Maddipatla and Trisha Roy in Bengaluru; Editing by Shounak Dasgupta)

Source: Reuters

Advertisement

Also worth reading

Advertisement