In final quarter as US-based company, Mylan beats 4Q profit view, misses revenue forecast

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NEW YORK — Drugmaker Mylan on Monday reported an adjusted profit that topped analyst expectations.

The company earned $189.2 million, or 47 cents per share, in the fourth quarter. That came to $1.05 per share when one-time charges and gains are excluded. Analysts expected $1.04 per share, according to Zacks Investment Research.

Mylan's $2.08 billion in revenue missed analysts' prediction of $2.09 billion, however.

For the year, the company reported a profit of $929.4 million, or $2.34 per share, on $7.72 billion in revenue.

On Friday Mylan completed its purchase of an Abbott Laboratories division that does business in developed markets outside the U.S., selling specialty drugs and generic drugs marketed under brand names. As part of the $5.3 billion deal, Mylan relocated to the Netherlands in a tax-reducing move called a corporate inversion, changing its name to Mylan NV from Mylan Inc. Mylan is still keeping a U.S. headquarters in Canonsburg, Pennsylvania.

Mylan said it expects to report adjusted net income of $4 to $4.30 per share in 2015 on $9.6 billion to $10.1 billion in revenue.

Analysts expect net income of $4.05 per share and $9.1 billion in revenue, according to FactSet.

The Abbott unit has about $2 billion in international sales, expanding Mylan's business outside the U.S.

Mylan shares fell $1.09, or 1.9 percent, to $56.80 in aftermarket trading. The stock had gained 56 cents to close at $57.89 on Monday, and is up about 4 percent over the last 12 months.

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Elements of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MYL at http://www.zacks.com/ap/MYL

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Keywords: Mylan, Earnings Report

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