Strong sales boost Mylan's Q3

PITTSBURGH Sales and profits have increased at Mylan during the third quarter and over the year, the generic drug maker said in an earnings report Tuesday.

Mylan said sales for the quarter ended Sept. 30 were $1.36 billion, with gross profits of $580.1 million. Sales and profits for the same period last year were $1.26 billion and $505 million, respectively. Sales and gross profit for the first nine months of the year were $4.02 billion and $1.64 billion, compared with $3.74 billion and $1.56 billion last year.

“We are extremely pleased to report adjusted diluted earnings per share of 43 cents, which is clearly indicative of the strong second half of 2010 we had previously forecasted, and actually came in a little better than what we anticipated,” Mylan chairman and CEO Robert Coury said. “With that said, at this time I still expect the fourth quarter to come in slightly better than the third quarter.”