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Mylan Slides on North American Sales Drop, Uncertainty over Generic Approvals

Mylan NV (MYL) on Wednesday, Aug. 9, reported second-quarter numbers that came in below analysts' estimates amid pricing pressures facing the sector.

The company "had a challenging quarter in North America with pressures arising from both accelerated new approvals on our existing generic products and continued consolidation of our U.S. customer base," said chief commercial officer Anthony Mauro on the earnings call.

For the second quarter, Mylan reported North America segment third-party net sales of $1.28 billion, a 9% decline year-over-year. Net sales were up about 4% excluding the decrease in sales of the EpiPen auto-injector of about $172 million, the company said.

The Europe segment had third-party net sales of $954.3 million, representing a 59% rise from the year-ago period, and the company's rest-of-world segment had net sales of $692.6 million, a 29% increase.

Total revenue rose 16% to $2.96 billion. The company reported adjusted diluted earnings...