Mylan reports strong Q2 results following completion of Meda takeover

Mylan has announced its financial results for the second quarter of 2016, during which it generated a revenue total of $2.56 billion (1.98 billion pounds).

This represented a year-on-year increase of eight percent compared to Q2 2015, with its generics business making up the lion's share of this total, but with its specialty segment seeing strong double-digit growth.

With earnings per share also up by 28 percent, the firm continues to expect strong growth for the rest of the year. Its total revenues for the first six months of 2016 came to $4.75 billion – up by 12 per cent year over year.

This comes after the firm completed its acquisition of Meda earlier this month, a deal that means the new-look Mylan has six $1 billion therapeutic franchises, as well as greatly expanded commercial capabilities.

It previously completed the purchase of the Renaissance topicals portfolio in June, further expanding the scope of the Mylan business.

Mylan's chief executive officer Heather Bresch said: "We see significant opportunities to further differentiate Mylan for our customers, patients and other stakeholders as we bring these assets together."

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