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Drugmaker Mylan's profit rises 6%; sets no timeline on strategic options

US generic drugmakers such as Mylan and Teva Pharmaceutical Industries Ltd have suffered over the past few years as a steep fall in generic prices weighed on their bottom lines

Reuters 

Mylan NV beat analysts' estimates for third-quarter profit on Monday, as the generic drugmaker reported higher sales of its products in emerging markets and said it had not set any timeline on evaluating its strategic alternatives. The company's shares rose 6 percent to $33.59 in after-market trading. The EpiPen maker in August had set up a committee to review possible strategic alternatives, citing a tough US environment for generic drugmakers. "I can assure you the board is busy looking at lots of things... But we put no timeframes around that," Chief ...

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First Published: Tue, November 06 2018. 06:57 IST
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