May 10 EpiPen maker Mylan NV said on Wednesday first-quarter profit more than quadrupled, as the maker of generic drugs benefited from strong demand outside the United States.
The company said net income rose to $66.4 million, or 12 cents per share in the first quarter ended March 31, from $13.9 million, or 3 cents per share, a year earlier.
Revenue rose to $2.69 billion from $2.18 billion.
Mylan has been heavily criticized over steep price increases for EpiPen, its life-saving allergy shot, and also for classifying the treatment as a generic rather than a branded product, leading to smaller rebates to state Medicaid programs. (Reporting by Natalie Grover in Bengaluru; Editing by Sai Sachin Ravikumar)
UPDATE 2-Barrick says union on strike at Veladero mine in Argentina
BUENOS AIRES, May 29 One of several labor unions at Barrick Gold Corp's Veladero mine in Argentina have gone on strike, the company said in a statement on Monday, adding that it is meeting with union leaders to reach a "timely" resolution to the situation.
BRIEF-Canada Post segment reports $44 mln profit before tax in Q1
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