Mylan stock dropped 7% after second quarter sales slumped

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Markets Insider

  • Mylan’s stock dropped 7.4% shortly after markets opened on Wednesday due to poor second quarter earnings.
  • The company’s total revenue for the second quarter was $2.8 billion, down 5% compared to last year. Sales in North America also fell 22%.
  • Mylan then announced that it was going to conduct a strategic review of the company, saying it believes it is undervalued. This means the company could be broken up or sold.
  • Mylan N.V. is an American pharmaceutical company registered in the Netherlands that makes both generic and specialty drugs. It is best known as the manufacturer of EpiPen.