Mylan’s first-quarter revenue fell short of analysts' expectations.
The pharmaceutical company reported revenue of $2.5 billion, falling behind analysts’ expectations of $2.69 billion. Revenue was -7% lower compared to the year-ago period. Revenue from its U.S. business declined -6%.
However, the pharmaceutical company’s adjusted earnings came in at 82 cents per share, beating analysts’ estimates of 79 cents per share.
For the full year, the company projects earnings to range between $3.80 and $4.80 per share, while predicting a revenue range of $11.5 billion to $12.5 billion. Analysts are expecting earnings of $4.41 per share on revenue of $11.96 billion.