There is a lot to look forward to as Mylan reports earnings aftermarket today. The stock has been up 9.65% since it reported last quarter results. Market pundits expect earnings to be lower this quarter, complemented by a sales decline of 0.80%.
Analysts view lower EpiPen sales, which impacted third quarter results, to hinder the company’s earnings this time also. Meanwhile, the company had raised the lower end of its sales outlook for 2017, putting best hopes on the recently launched generic version of Copaxone.
In the trailing four quarters, the pharma giant’s metrics were mixed, topping and missing consensus twice. Looking ahead, analysts expect sales to grow 20.4% in the first quarter of 2018 and jump 19% for the full year 2018.
For Q3 of 2017, Mylan posted earnings of $1.10 per share that came in below street expectations. However, the company had lifted the lower end of the adjusted earnings guidance for the year 2017 to $4.45-4.70 per share from the previous estimate of $4.30-4.70 per share.
Analysts view lower EpiPen sales, which impacted third quarter results, to hinder the company’s earnings this time also.
In addition, Mylan narrowed 2017 revenue outlook to the range of $11.75 billion to $12.5 billion from the previous forecast range of $11.5 billion to $12.5 billion. The company anticipates adjusted free cash flow of $2 billion to $2.4 billion and capital expenditures of $300 million to 350 million for 2017.
Drug highlights
The FDA has approved Mylan’s biosimilar for the treatment of breast cancer and metastatic stomach cancer. Mylan has also launched a generic version of Otsuka Pharmaceutical’s Busulfex injection that is used in stem cell transplant for the treatment of blood-cell cancer.
Meanwhile, Mylan launched a few weeks back, the generic version of Sustiva, an antiretroviral medication used to treat and prevent HIV/AIDS.