Mylan’s New Zealand unit boosts profit by two thirds as sales growth outpaces costs

Tue, 18 Jun 2013

By Tina Morrison June 18 (BusinessDesk) – Mylan New Zealand, the local unit of the world’s third-largest generic-drug maker, boosted profit by two-thirds last year as sales growth outpaced expenses. Profit rose 62 percent to $9.4 million in the 12 months ended Dec. 31, the Auckland-based company said in accounts filed with the Companies Office. Revenue jumped 18 percent to $54.7 million while the cost of sales advanced 10 percent to $35.6 million, according to the company accounts. Mylan New Zealand managing director Lloyd Price declined to...

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