Share “Mylan to buy Agila of India for $1.6 billion”

Mylan to buy Agila of India for $1.6 billion

Published on NewsOK Modified: February 27, 2013 at 5:08 pm •  Published: February 27, 2013

Mylan also reported its fourth-quarter results on Wednesday. The company said its net income rose 25 percent to $162 million, or 39 cents per share. Per-share results benefited from a 4 reduction in average shares outstanding year over year. During the fourth quarter, Mylan repurchased about 18 million shares for roughly $500 million.

Excluding restructuring and other one-time items, it earned 65 cents per share. Revenue rose 13 percent to $1.72 billion.

Analysts expected adjusted income of 64 cents per share and $1.73 billion in revenue, according to FactSet.

Looking ahead, Mylan is forecasting adjusted income of $2.75 to $2.95 per share and revenue of $7 billion to $7.4 billion in 2013. Analysts expect income of $2.81 per share and $7.14 billion in revenue on average.

Shares of Mylan gained 24 cents to close at $28.57 during the regular session, then added 3.3 percent to $29.50 in after-hours trading.