Source: Bloomberg
Generic drug manufacturers like Mylan (MYL) have been reeling from declining revenue. Large corporations are using their leverage to negotiate lower prices for generics. The FDA is approving drugs faster, which is creating more competition and falling revenue. Mylan may have bucked the trend when it reported Q3 2019 revenue of $2.96 billion, up 4% Y/Y. Product sales of $2.93 billion rose 3%.
Two of the company's key operating segments reported revenue growth. North America reported $1.1 billion in revenue, up 8% Y/Y. The increase was spurred by new product sales,