Mylan's (MYL) net profit rose 11% to $180.2M as double-digit growth at the company's specialty segment and in its foreign generics business counter-balanced a 45% drop in revenue from new products following approval delays.
Gross margin increased to 44% from 43.1%.
Projects 2014 EPS of $3.25-3.60 vs consensus of $3.38 and revenue of $7.8-8.2B vs $7.75B.
Mylan expects to make another "substantial transaction" this year, although the company didn't provide details.
Mylan (MYL) turns in mixed results for Q3, coming up just shy on revenue but beating on the bottom line.
Sales fall 2% Y/Y (flat ex-currency impact).
Generics net sales growth by region: North America, -14%; EMEA, +11%; Asia Pacific, -2.5%.
Specialty segment sales rise 18.4% thanks largely to Epipen.
Here's MYL, summing things up: "The North American generics business accounted for the majority of the decline in new product revenues. Offsetting this decline in new product revenues, was revenue growth in the Generics segment outside of North America and double digit growth in the Specialty segment."
FY13 outlook: $2.80-2.90/share versus previous guidance of $2.75-2.95/share.
More on Mylan (MYL): Q1 misses on top line estimates as net earnings fell 17% Y/Y amid acquisition-related expenses and other items. The generic-drug maker reported modest growth for the quarter, thanks to its specialty business which posted revenue growth of 22% to $226.6M. Generics revenue was flat at $1.41B, as growth in its EMEA segment and its Asia Pacific business was offset by declines in North America. Gross margin rose slightly to 42.5% from 42.3%. Shares -3.4% AH.