Mylan's Q2 revenue down 5%; US healthcare changes cited

Mylan, the maker of EpiPen, saw its sales in North America drop 22 percent to $1 billion in the second quarter of 2018, according to its recently released earnings report.

Overall in the second quarter, Mylan generated $2.81 billion in revenue, which is down 5 percent from the same period a year ago. The drugmaker blamed its second-quarter troubles on the sharp decline of sales in North America as well as the changing healthcare environment in the U.S.

"Our Europe and rest of world segments continue to deliver growth in line with our expectations," said Mylan's CEO Heather Bresche. "However, our efforts to serve patients in the U.S. have been shaped by the industry's transformation there, and our results and guidance for 2018 are directly correlated with the ongoing rebasing of the U.S. healthcare environment."

As a result of the lackluster second-quarter results, Mylan revised its full-year guidance. The drugmaker now expects full-year revenue to range from $11.25 billion to $12.25 billion, cutting its previous expectations of $11.75 billion to $13.25 billion.

The company announced its board of directors will evaluate "alternatives" to offset the decreased sales in North America. 

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