Mylan Inc. has earned $58.1 million in the second quarter, after taking a loss last year following its acquisition of the generics business . It raised its profit outlook for the full year.
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The company said its profit amounted to 19 cents per share for the three months ended June 30, compared with a loss of $16.3 million, or 5 cents per share a year ago.
Excluding one-time items, Mylan said it earned 32 cents per share. That was 3 cents a share higher than the 29 cents that analysts surveyed by Thomson Reuters expected.
Revenue increased to $1.27 billion from $1.2 billion. Analysts expected $1.22 billion in revenue, according to Thomson Reuters.Mylan bought Merck KGaA's generic business in October 2007 for $7.7 billion, which brought the company into Europe, Africa, the Middle East and the Asia-Pacific region.
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