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8/6, 12:51 PM (Source: TeleTrader)
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Mylan's revenue down 2% to $2.73B in Q2

Pharmaceutical company Mylan N.V. announced on Thursday its revenue in the second quarter of 2020 landed at $2.73 billion, marking a 2% year on year and missing market estimates.

Meanwhile, the pharmaceutical company's net profit amounted to $39.4 million, soaring 123% compared to a net loss of $168.5 million reported in the same quarter of 2019 and beating expectations. Adjusted net earnings climbed 8% year on year to $574.3 million.

"Looking forward to the remainder of the year, we're tightening our full-year guidance within the ranges of our original expectations for both adjusted EBITDA and revenues. On adjusted EBITDA, we expect to be able to substantially maintain our original target for the full year while tightening the range to between $3.3 and $3.7 billion," CEO Heather Bresch stated. "And on revenue, we're also tightening our full-year range to between $11.5 and $12 billion, taking into consideration COVID-19 topline impacts to date and our anticipation that recovery efforts will continue until at least the end of the year," she added.

Breaking the News / NP