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Mylan Reports Results, Announces Acquisition

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Mylan (NASDAQ: MYL  ) has reported improved numbers in its fiscal Q4 and 2012 results, and it also shared news of an acquisition. For the quarter, the generic-drug company's revenue was $1.7 billion, against $1.5 billion in the same period the previous year. Net profit came in at $267 million ($0.65 per diluted share), which trumped Q4 2011's figure of $227 million ($0.53).

For the full year, the top line totaled $6.8 billion and the company netted $1.09 billion ($2.59 diluted EPS), against 2011's sales of $6.1 billion and $893 million ($2.04) net profit.

Mylan also proffered guidance for its fiscal 2013. It believes it will take in $7.0 billion-$7.4 billion in revenue and post a net profit of $1.06 billion-$1.18 billion ($2.75-$2.95 diluted EPS) for the year.

Separately, the company said it is to acquire Agila, a supplier of injectable products, from India-based Strides Arcolab. The price is $1.6 billion in cash, and the transaction is expected to be completed in Q4 2013, assuming regulatory approvals and "certain closing conditions," according to Mylan.

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8/30/2016 4:00 PM
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Mylan CAPS Rating: *****