News Summary: Mylan to buy Agila for $1.6 billion
THE DEAL: Mylan Inc., one of the world's largest maker of generic drugs, is buying Agila Specialties of India for $1.6 billion to expand its offerings of injectable drugs and boost its sales in emerging markets.
THE RESULTS: The Pittsburgh company also reported a 25 percent increase in fourth-quarter net income on double-digit revenue growth. Mylan earned 39 cents per share, or 65 cents per share excluding items, a penny ahead of expectations.
THE FORECAST: Mylan forecast adjusted income of $2.75 to $2.95 per share and revenue of $7 billion to $7.4 billion for 2013. Analysts expect earnings per share of $2.81 on revenue of $7.14 billion.