Mylan reports double-digit first-quarter growth for 2016

Mylan has reported strong double-digit growth for the first quarter of 2016, allowing the company to affirm its guidance for the full year.

The company's total revenues for the quarter came to $2.19 billion (1.52 billion pounds), up by 19 percent on a constant currency basis year over year. Its strong North American performance was outpaced by the even more pronounced growth seen internationally.

Generics segment third-party net sales of $1.93 billion made up the majority of Mylan's revenues for the quarter, meeting its expectations and supporting its forecasts of a revenue total of between $10.5 billion and $11.5 billion for the full year.

Over the coming months, the firm will also close its acquisition of Meda, a deal that will further broaden its commercial capabilities.

Mylan's chief executive officer Heather Bresch said: "I am pleased to note that Meda's Q1 2016 earnings results … were in line with our modelled expectations for the business, and we remain fully committed to and look forward to closing this transaction."

The company also announced the appointment of Kenneth Parks as its new chief financial officer, a role he will assume on June 6th.