Mylan reports surge in 2009 sales
PITTSBURGH Mylan had profits of $93.5 million in 2009, the generic drug maker announced Thursday in its annual financial report.
The boost in profits came after a $335.1 million loss in 2008. Profits for fourth quarter 2009 were $4.1 million, compared with a loss of $54.5 million in fourth quarter 2008. Sales for the year were $5.09 billion, a decrease from 2008’s $5.14 billion.
Generics sales for the year were $4.7 billion, compared with $4.29 billion in 2008. Specialty drugs, meaning drugs prescribed by specialists as opposed to drugs sold through the specialty pharmacy channel, had sales of $455.7 million, a 9% increase from 2008’s $417.2 million. Mylan sells specialty drugs mostly for allergies and respiratory ailments through its Dey subsidiary, such as the allergic reaction treatment EpiPen (epinephrine) and chronic obstructive pulmonary disease treatment Perforomist (formoterol fumarate).