Mylan Adjusted Income Is One Cent Short Of Views

MarketWatch Pulse

Dutch drug maker Mylan N.V. said Tuesday that first-quarter net income was $56.6 million, or 13 cents a share, less than half the $115.9 million, or 29 cents a share, for the same period a year ago. Sales were $1.87 billion against the $1.72 billion for the year-ago-quarter. Mylan said adjusted income was 70 cents a share, a penny short of the 71 cents projected from analysts polled by FactSet. Sales also fell short of forecasts, and had been expected to reach $2.05 billion. Mylan shares were down marginally at the close to $72.89. Mylan has been in the news lately as the focal point of a corporate merger triangle. The company has been turned down several times seeking to purchase Irish pharmaceutical maker Perrigo Co. , and is the object of a takeover attempt by Teva Pharmaceutical Industries Ltd.

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