Mylan reports rise in revenue, EPS during second quarter

PITTSBURGH Increases in revenues and earnings per share were among the highlights of the last three months for generic drug company Mylan, according to a second quarter 2009 earnings release Thursday.

Total revenues for the three months ending June 30 were $1.27 billion, a $64 million increase over second quarter 2008. Adjusted earnings per share were 32 cents, compared with 20 cents last year. Earnings per share for the first half of 2009 were 65 cents, compared with 29 cents last year. On a GAAP basis, however, earnings per share for the quarter were 19 cents, a five-cent decrease compared with second quarter 2008.

“This was yet another successful quarter on many fronts for Mylan as, across the board, we delivered another quarter of financial performance that exceeded our expectations,” Mylan chairman and CEO Robert Coury said in a statement. “Our powerful and integrated global platform enabled each of our businesses to generate year-over-year quarterly revenue growth on a constant currency basis and to deliver additional operational efficiencies as well.”