Mylan, like other generic drugmakers, feels the pricing pain
August 10, 2017
NEW YORK (AP) — Mylan's second-quarter profit and revenue surged, but not as much as Wall Street had expected and the company is taking a more conservative view going forward because of "ongoing challenges and the uncertain U.S. regulatory environment."
Shares tumbled 5 percent and were trading close to four-year lows at the opening bell Wednesday.
The generic drugmaker, which is incorporated in the United Kingdom but has its U.S. headquarters outside of Pittsburgh, said profit surged 76 percent to $297 million, or 55 cents per share.
Earnings, adjusted for non-recurring costs, came to $1...