Mylan Q2 revenues up 8% to $2.56 billionStaff Writer | August 10, 2016
Mylan announced its financial results for the second quarter ended June 30, 2016. Total revenues of $2.56 billion were up 8% compared to the prior year period.
Mylan Adjusted EPS were $1.16
Current quarter total revenues were not significantly impacted by the effect of foreign currency translation.
U.S. GAAP diluted earnings per ordinary share (EPS) of $0.33, up 3% compared to the prior year period primarily due to higher sales and gross margins, partially offset by increased non-operating expenses driven mainly by certain Meda transaction related acq
uisition and financing cost Adjusted diluted earnings per ordinary share (adjusted EPS) of $1.16, up 28% compared to the prior year period.
Mylan CEO Heather Bresch commented, "Our strong second quarter results delivered year-over-year total revenue growth of 8% and adjusted EPS growth of 28%.
"This solid performance, which included continued strength in our generics business and double digit revenue growth in our Specialty business, yet again underscores the strategic value of Mylan's diversification and scale as well as our differentiation within our industry.
"Given our performance to date this year and our current trajectory, we are committed to our 2016 adjusted EPS guidance range of $4.85 to $5.15. ■