Mylan reports 2016 results and shares immediately rise 4%

US-based pharmaceutical multinational Mylan, with tax domicile in the Netherlands, reported its 2016 financial results, which were beyond expectations, and shares (NASDAQ) immediately rose by over 7%. EpiPen, for anaphylactic shock, is confirmed as Mylan’s blockbuster, yet the generics portfolio plays a leading role, even though their constant price drop is affecting the results. The key region is North America, where sales increased by 22% in Q4. However, the fastest-growing one is Europe, where revenue increased by 50% ($927m). The management took this opportunity to provide the 2017 guidance: revenue is expected to be between $12.25bn and $13.75bn and EPS between $5.15 and $5.55 – analysts expected $5.33.
(Source Mylan)