Mylan NV missed first-quarter revenue estimates on Tuesday, hurt by lower demand...
- Mylan NV missed first-quarter revenue estimates on Tuesday, hurt by lower demand for its products and manufacturing problems at its Morgantown plant, sending its shares down nearly 8 percent.
The company has been grappling with problems at its Morgantown facility in West Virginia and had last year announced discontinuation of some products and job cuts at the plant. Only five of its top 50 and one of the top 10 gross margin generating products will be manufactured in the facility in 2019, the drugmaker said in February.
Total revenue fell 7 percent to $2.50 billion and missed estimates of $2.69 billion, according to IBES data from Refinitiv.
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