Get 40% Off
These stocks are up over 10% post earnings. Did you spot the buying opportunity? Our AI did.Read how

Mylan reiterates profit on EpiPen two-pack in U.S.

Published 09/26/2016, 01:05 PM
Updated 09/26/2016, 01:10 PM
© Reuters. A file photo showing the EpiPen auto-injection epinephrine pens manufactured by Mylan NV pharmaceutical company are seen in Washington

(Reuters) - Under fire generic drugmaker Mylan NV (O:MYL) reiterated it makes a net profit of $104, after taxes, for a pair of its EpiPen emergency allergy treatment sold in the United States, the company said in a filing on Monday.

The unexpected filing comes after the Wall Street Journal reported earlier in the day that the company substantially reduced its calculation of EpiPen profits by applying the statutory U.S. tax rate of 37.5 percent during a congressional hearing on Wednesday.

U.S. lawmakers at the hearing lambasted Mylan Chief Executive Heather Bresch for sharply increasing prices for the treatment to $600 for a pair from $100 in 2007.

"Without the tax-related reduction, Mylan's profits on the EpiPen two-pack would be closer to $160, or 60 percent higher than the figure the company gave Congress," the WSJ report said.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.