Mylan Doles Out the Right Prescription for Investors

Strong demand for its lineup of generic drugs and more to come from additional upcoming launches as it moves toward closing its deal with Pfizer's (PFE) - Get Report Upjohn business all helped boost third-quarter sales and earnings for Mylan (MYL) - Get Report .

The EpiPen and generic drugmaker on Tuesday posted adjusted quarterly profit of $1.17 a share, 4 cents better than analysts' forecasts, as the company generated increased sales from its existing suite of generic drugs as well as some new product launches. 

Sales rose to $2.96 billion from $2.86 billion, though were slightly short of analysts' forecasts $3 billion.

Separately, Mylan updated its previous full-year 2019 guidance, saying it continues to expect to generate between $1.9 billion and $2.3 billion of adjusted free cash flow, adjusted per-share earnings in the range of $4.20 to $4.40, and sales in the range of $11.5 billion to $12 billion.

Mylan in September agreed to pay $30 million to settle a Securities and Exchange Commission lawsuit related to a probe of its EpiPen product.

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