Pharmaceutical Processing World

  • Home
  • Regulatory
    • Recalls
  • Pharmaceutical Processing
  • Facility
  • Supply Chain
  • Equipment and Materials
  • Contract Manufacturing
  • Resources
    • Voices
  • Advertise
  • SUBSCRIBE

Mylan’s Acquisition Costs Outpace Growing Sales

By Pharmaceutical Processing | April 29, 2010

PITTSBURGH (AP) — Mylan Inc. said today its profit fell 14 percent in the first quarter as acquisition and restructuring costs outpaced its growing sales.

Revenue from generic sales rose 8 percent to $1.24 billion, and specialty pharmacy revenue rose 21 percent to $101 million. Sales of generics in the Europe, Middle East and Africa rose 15 percent to $410.8 million, and in the Asia Pacific region, those sales climbed 31 percent to $282.3 million.

Mylan has increasingly become a global operator, buying a majority stake in Matrix Laboratories of India in early 2007. It moved into Europe, Africa, the Middle East, and Asia-Pacific by buying Merck KGaA’s generics unit. In 2009 Mylan bought the rest of Matrix.

Yet generic revenue fell 5 percent in North America to $562.7 million and Mylan spent $12.1 million integrating recent acquisitions and restructuring its operations. That compares to a $4.4 million gain from special items a year ago.

Mylan said its profit slipped to $61.1 million, or 20 cents per share, from $71.3 million, or 23 cents per share. Revenue increased 7 percent, to $1.29 billion from $1.21 billion. Excluding one-time costs, Mylan said it earned 36 cents per share.

Analysts were expecting a profit of 34 cents per share and Mylan matched predictions for revenue, according to Thomson Reuters.

The company maintained its forecast of $1.50 to $1.70 per share in profit this year. Analysts expect $1.61 per share and $5.54 billion in revenue on average.

 

Related Articles Read More >

Great Point Partners logo.
Great Point Partners acquires majority stake in Eutecma to fuel sustainable cold chain growth
Driving success in fast-paced high-tech pharma construction projects
This is a photo of the Fujifilm Diosynth Biotechnologies plant under construction in Holly Springs, North Carolina.
Fujifilm, Regeneron ink $3B U.S. manufacturing agreement
This is the logo of Johnson & Johnson.
J&J breaks ground on $2B manufacturing facility in North Carolina
“ppw
EXPAND YOUR KNOWLEDGE AND STAY CONNECTED
Get the latest news, technologies, and developments in Pharmaceutical Processing.

DeviceTalks Tuesdays

DeviceTalks Tuesdays

MEDTECH 100 INDEX

Medtech 100 logo
Market Summary > Current Price
The MedTech 100 is a financial index calculated using the BIG100 companies covered in Medical Design and Outsourcing.
Pharmaceutical Processing World
  • Subscribe to our E-Newsletter
  • Contact Us
  • About Us
  • R&D World
  • Drug Delivery Business News
  • Drug Discovery & Development
  • DeviceTalks
  • MassDevice
  • Medical Design & Outsourcing
  • MEDICAL TUBING + EXTRUSION
  • Medical Design Sourcing
  • Medtech100 Index
  • R&D 100 Awards

Copyright © 2025 WTWH Media LLC. All Rights Reserved. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of WTWH Media
Privacy Policy | Advertising | About Us

Search Pharmaceutical Processing World

  • Home
  • Regulatory
    • Recalls
  • Pharmaceutical Processing
  • Facility
  • Supply Chain
  • Equipment and Materials
  • Contract Manufacturing
  • Resources
    • Voices
  • Advertise
  • SUBSCRIBE