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Mylan Tops Earnings Estimates, Maintains Full-Year Forecast

  • Allergy treatment EpiPen drives 33% jump in specialty sales
  • Total revenue increases 8%, in line with analysts’ predictios

Mylan NV posted second-quarter profit that beat analysts’ estimates as sales surged for its specialty drugs division, which includes the allergy treatment EpiPen.

Earnings excluding some items were $1.16 a share, the company said Tuesday in a statement, topping the $1.14 average of predictions compiled by Bloomberg. Revenue rose 8 percent to $2.56 billion, in line with estimates of $2.57 billion.

The drugmaker kept its 2016 forecast unchanged even after quarterly profit came in higher than expected. The shares fell 1.8 percent to $49 in late trading at 6:04 p.m. New York time.

Mylan, which has a legal address in the Netherlands and is run from Canonsburg, Pennsylvania, has been expanding through acquisitions. Last week it closed on its $7.2 billion purchase of Swedish pharmaceutical company Meda AB, which will give it access to new markets and bring...