Mylan said the lower forecast was due to higher projected sales, marketing and research and development costs, and its shares fell about 10 percent. Mylan Chief Executive Heather Bresch also said the company was still seeing pricing erosion in the U.S. generic market, but that new product launches should offset revenue decreases for existing products in 2019. The company formed a review committee in August to evaluate possible strategic alternatives, citing the tough U.S.
80 a share and revenue of $11.5 billion to $12.5 billion. Analysts, on average were estimating earnings of $5.04 per share and sales of $11.9 billion. Revenue for the quarter fell 5 percent to $3.08 billion. Mylan received a warning letter from the U.S. Food and Drug Administration in November, flagging"significant" manufacturing violations at the Morgantown plant, including"inadequate" cleaning of equipment.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Home Depot forecasts poor 2019 earnings as U.S. housing momentum slowsHome Depot Inc projected 2019 earnings below Wall Street forecasts on Tuesday, a... That's sounds like rally time! Meanwhile, home builders ETF $XHB up 19% this year. Time for a short? Methinks so. Wonder how many folks are boycotting HD because its owner is a Trump supporter? I am
Source: Reuters - 🏆 2. / 97 Read more »
Source: CNBC - 🏆 12. / 72 Read more »
Source: MarketWatch - 🏆 3. / 97 Read more »