Mylan N.V.MYL is one of the largest generics and specialty pharmaceutical companies in the globe. The company's product portfolio encompasses various therapeutic areas including cardiovascular, central nervous system, anti-infective, gastrointestinal, endocrine and metabolic, and respiratory drugs.
Mylan continued to launch generic drugs in the first quarter of 2016. Meanwhile, the company is set to acquire Meda, a leading international specialty pharmaceutical company, in a deal worth $9.9 billion. The transaction is expected to be completed by the end of the third quarter of 2016. Investor focus will be on updates from the Meda deal.
Mylan's performance has been decent with the company beating earnings estimates on two occasions, while posting in line results in one. Overall, the company has delivered an average positive surprise of 1.46%.
Currently, Mylan has a Zacks Rank #3 (Hold), but that could definitely change following the company's earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: Mylan beat on first-quarter 2016 earnings by a penny. The company reported EPS of 76 cents while our consensus called for EPS of 75 cents.
Revenues: Revenues, however, fell short of expectations. Mylan posted revenues of $2.19 billion, compared to our consensus estimate of $2.26 billion.
Key Stats: Both Generics and Specialty segment performed well in the first quarter of 2016. Mylan reiterated its outlook for 2016. The company continues to expect earnings in the range of $4.85 to $5.15 per share while total revenues are expected in the range of $10.5 billion to $11.5 billion. The Zacks Consensus Estimate for earnings currently stands at $4.90 per share on revenues of $10.6 billion.
Check back later for our full write up on this Mylan earnings report later!
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days . Click to get this free report >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report