February 27, 2020 / 9:09 PM / a month ago

Mylan posts 60% fall in fourth-quarter profit

Feb 27 (Reuters) - Drugmaker Mylan NV reported a nearly 60% fall in its fourth-quarter profit on Thursday, hurt by a higher income tax provision.

Net earnings fell to $20.5 million, or 4 cents per share, in the quarter ended Dec. 31, from $51.2 million, or 10 cents per share, a year earlier.

Total revenue rose to $3.19 billion from $3.08 billion.

The company recorded an income tax provision of $114.7 million in the reported quarter, compared to a provision of $25.8 million a year earlier. (Reporting by Trisha Roy and Saumya Sibi Joseph in Bengaluru; Editing by Shounak Dasgupta)

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