Mylan posts quarterly profit compared to year-earlier loss

Mylan posts quarterly profit compared to year-earlier loss
imageStock Markets34 minutes ago (Aug 06, 2020 06:55AM ET)

(C) Reuters. Logo of Mylan Laboratories, a company primarily engaged in the commercialization of generic drugs is pictured in Merignac near Bordeaux

(Reuters) – Mylan NV (O:MYL) 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 $39.4 million, or 8 cents per share, in the three months ended June 30, compared to a loss of $168.5 million, or 33 cents per share, a year earlier.

Total revenue of the company, whose merger with Pfizer Inc’s (N:PFE) off-patent branded drugs unit has been delayed by the pandemic, fell to $2.73 billion from $2.85 billion.

Mylan posts quarterly profit compared to year-earlier loss

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