Mylan Lifts Q3, FY Adj. EPS View - Quick Facts

(RTTNews) - Generic drug maker Mylan Inc. (MYL) said it now expects third-quarter adjusted earnings per share in the range of $1.12 - $1.16, an increase from the prior range of $0.90 - $0.95.

This increased guidance range is partly due to stronger than anticipated third-quarter operational performance, supported by multiple product approvals and launches in the U.S. during the quarter.

Also, the raised third-quarter outlook includes around $0.14 per share as a result of an agreement with Strides Arcolab Ltd. Mylan recognized compensation, and the resulting positive impact on cash, for lost revenues in 2014 arising from supply disruptions that resulted from on-going quality-enhancement activities initiated at certain Agila facilities prior to Mylan's acquisition of Agila from Strides in 2013.

Looking ahead to the full year, Mylan is raising its adjusted earnings per share guidance to $3.44 - $3.54 from its previous $3.25 - 3.45 range. This revised range excludes potential launches of generic Copaxone and generic Lidoderm.