Mylan third-quarter profit rises 7% on new drug launches

Mylan third-quarter profit rises 7% on new drug launches

FILE PHOTO: Logo of Mylan Laboratories, a company primarily engaged in the commercialization of generic drugs is pictured in Merignac near Bordeaux, France, September 19, 2019. REUTERS/Regis Duvignau

(Reuters) – Mylan NV (MYL.O) reported a 7.4% rise in third-quarter profit on Tuesday, as the generic drugmaker benefited from new product launches.

The company, which in July said it would merge with Pfizer Inc’s (PFE.N) off-patent branded drugs unit, said net earnings rose to $189.8 million, or 37 cents per share, in the quarter ended Sept 30 from $176.7 million, or 34 cents per share, a year earlier.

Total revenue rose to $2.96 billion from $2.86 billion.

Reporting by Saumya Sibi Joseph and Aakash Jagadeesh Babu in Bengaluru; Editing by Anil D’Silva

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