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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