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Mylan misses revenue estimates as EpiPen sales dip

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Reuters

(Reuters) - Drugmaker Mylan NV's first-quarter revenue fell short of Wall Street forecasts as sales of emergency allergy shot EpiPen declined and the company faced intensifying competition in North America.

Mylan faces fresh worries of supply constraints for EpiPen, and on Tuesday it warned U.S. customers may have trouble getting EpiPen prescriptions filled due to problems at a manufacturing plant.

The company's revenue fell 1.3 percent to $2.68 billion in the three months ended March 31, missing analysts' average expectation of $2.75 billion, according to Thomson Reuters I/B/E/S.

North America sales of Mylan's branded products including EpiPen fell $108.7 million.

The company's net income rose 31 percent to $87.1 million or 17 cents per share in the first quarter.

 

Excluding one-time items, Mylan earned 96 cents per share, matching analysts' expectations.

(Reporting by Tamara Mathias in Bengaluru; Editing by Sai Sachin Ravikumar)

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First Published: May 09 2018 | 6:49 PM IST

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