Mylan reports double-digit growth in third quarter of 2016

Mylan has reported double-digit growth for the third quarter of 2016 in its latest financial report.

The company's revenues for the quarter came to $3.06 billion (2.46 billion pounds), representing a year-on-year increase of 13 percent, predominantly due to net sales from acquisitions and new product launches.

Its generics business experienced a 17 percent year-over-year increase as the firm continued to see the benefits of the recent acquisitions of Meda and the non-sterile topicals-focused division from Renaissance Acquisition Holdings.

Although sales volumes of the EpiPen Auto-Injector took a hit during the quarter, this was due to anticipation on the part of wholesalers ahead of the authorised launch of a generic alternative.

For the first nine months of the year, Mylan's revenues reached $7.81 billion, or 13 percent higher than the corresponding period of 2015.

Mylan chief executive officer Heather Bresch said: "We will focus on integrating and driving efficiencies across our global platform and we will be considering how best to deploy our capital and leverage our differentiated platform over the longer term to ensure Mylan's sustainable growth for many years to come."

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