Generic drug maker Mylan Inc. saw first-quarter profits skid 17 percent, to $106.9 million, from $129.1 million in the same period last year as higher expenses for research and development and acquisition-related costs weighed on the bottom line.
Per-share profits fell 10 percent, to 27 cents from 30 cents, reflecting fewer shares outstanding.
Revenue for the three months ended March 31 rose 3 percent, to $1.63 billion from $1.58 billion.
The results were released this afternoon after the close of the stock market.
Patricia Sabatini: email@example.com or 412-263-3066.