May 11, 2020 / 12:51 PM / 24 days ago

BRIEF-Mylan Reports First Quarter 2020 Results And Reaffirms 2020 Guidance

Mylan Nv:

* MYLAN REPORTS FIRST QUARTER 2020 RESULTS AND REAFFIRMS 2020 GUIDANCE

* Q1 REVENUE ROSE 5 PERCENT TO $2.62 BILLION

* Q1 TOTAL REVENUES OF $2.62 BILLION, UP 5%, UP 8% ON A CONSTANT CURRENCY BASIS, COMPARED TO PRIOR YEAR PERIOD.

* Q1 NORTH AMERICA SEGMENT NET SALES OF $955.5 MILLION, UP 4% ON AN ACTUAL AND CONSTANT CURRENCY BASIS

* QTRLY EARNINGS PER SHARE $0.04

* CURRENTLY DEVELOPING DETAILS RESTRUCTURING PROGRAM, INCLUDING WORKFORCE ACTIONS AND OTHER RESTRUCTURING ACTIVITIES

* Q1 REVENUE VIEW $2.64 BILLION — REFINITIV IBES DATA

* REMAIN ON TRACK TO CLOSE PENDING COMBINATION WITH PFIZER’S UPJOHN BUSINESS IN SECOND HALF OF 2020

* AT THIS TIME, CO DOES NOT FORESEE ANY SUPPLY DISRUPTIONS

* CONTINUE TO TARGET APPROXIMATELY $1 BILLION OF DEBT REPAYMENT DURING 2020

* ALL OF CO’S MANUFACTURING FACILITIES ARE CURRENTLY OPERATIONAL

* AT THIS TIME, CO HAS SUFFICIENT SAFETY STOCK TO ADDRESS CURRENT NEEDS.

* CURRENTLY ARE NOT EXPERIENCING ANY SIGNIFICANT NEGATIVE IMPACT ON OVERALL GLOBAL DEMAND TRENDS

* DO NOT SEE ANY NEGATIVE LIQUIDITY TRENDS RELATED TO COVID-19 PANDEMIC

* INVENTORY LEVELS REMAIN IN-LINE WITH NORMAL LEVELS AND ARE CURRENTLY ASSESSED TO BE SUFFICIENT FOR ANTICIPATED DEMAND

* DONATING 10 MILLION TABLETS OF HYDROXYCHLOROQUINE SULFATE TO HHS

* DONATING HYDROXYCHLOROQUINE SULFATE TABLETS TO WORLD HEALTH ORGANIZATION

* BELIEVE THAT CURRENTLY HAVE, AND WILL MAINTAIN, ABILITY TO MEET FORESEEABLE LIQUIDITY NEEDS

* WORKING WITH OTHER PUBLIC HEALTH INSTITUTION PARTNERS CURRENTLY STUDYING POTENTIAL PROPHYLACTIC MEASURES

* COVID-19 PANDEMIC DID NOT HAVE A MATERIAL NEGATIVE IMPACT TO CONDENSED CONSOLIDATED RESULTS OF OPERATIONS IN Q1 OF 2020 Source text for Eikon: Further company coverage:

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