Company profile

Ticker
MYL
Exchange
Website
CEO
Heather M. Bresch
Employees
Incorporated in
Location
Fiscal year end
Former names
New Moon B.V.
SEC CIK

MYL stock data

(
)

Calendar

11 May 20
9 Jul 20
31 Dec 20

News

Company financial data Financial data

Quarter (USD) Mar 20 Dec 19 Sep 19 Jun 19
Revenue 2.62B 3.19B 2.96B 2.85B
Net income 20.8M 20.5M 189.8M -168.5M
Diluted EPS 0.04 0.04 0.37 -0.33
Net profit margin 0.79% 0.64% 6.41% -5.91%
Operating income 184.7M 272.3M 323.7M 95.5M
Net change in cash 96.8M 116.7M 147.4M -18.3M
Cash on hand 572.4M 475.6M 358.9M 211.5M
Cost of revenue 1.71B 2.1B 1.89B 1.92B
Annual (USD) Dec 19 Dec 18 Dec 17 Dec 16
Revenue 11.5B 11.43B 11.91B 11.08B
Net income 16.8M 352.5M 696M 480M
Diluted EPS 0.03 0.68 1.3 0.92
Net profit margin 0.15% 3.08% 5.84% 4.33%
Operating income 715.5M 905.6M 1.44B 699.2M
Net change in cash 87.5M 96M -706.7M -237.2M
Cash on hand 475.6M 388.1M 292.1M 998.8M
Cost of revenue 7.6B 7.43B 7.12B 6.38B

Financial data from Mylan earnings reports

Date Owner Security Transaction Code 10b5-1 $Price #Shares $Value #Remaining
3 Mar 20 Rajiv Malik RSU Ordinary Shares Option exercise Dispose M No 0 12,395 0 0
3 Mar 20 Heather M Bresch RSU Ordinary Shares Option exercise Dispose M No 0 20,141 0 0
3 Mar 20 Rajiv Malik Ordinary Shares Option exercise Aquire M No 0 30,988 0 283,195
3 Mar 20 Rajiv Malik Ordinary Shares Payment of exercise Dispose F No 16.29 5,471 89.12K 252,207
3 Mar 20 Rajiv Malik Ordinary Shares Option exercise Aquire M No 0 12,395 0 257,678
3 Mar 20 Rajiv Malik RSU Ordinary Shares Option exercise Dispose M No 0 30,988 0 0
3 Mar 20 Rajiv Malik RSU Ordinary Shares Grant Aquire A No 0 30,988 0 30,988
3 Mar 20 Rajiv Malik Ordinary Shares Payment of exercise Dispose F No 16.29 13,677 222.8K 269,518
3 Mar 20 Heather M Bresch Ordinary Shares Payment of exercise Dispose F No 16.29 22,357 364.2K 280,642
3 Mar 20 Heather M Bresch Ordinary Shares Option exercise Aquire M No 0 50,355 0 302,999
85.4% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 443 458 -3.3%
Opened positions 76 87 -12.6%
Closed positions 91 62 +46.8%
Increased positions 133 144 -7.6%
Reduced positions 145 149 -2.7%
13F shares
Current Prev Q Change
Total value 6.59B 8.94B -26.3%
Total shares 441.29M 440.21M +0.2%
Total puts 17.78M 16.16M +10.0%
Total calls 9.15M 12.91M -29.1%
Total put/call ratio 1.9 1.3 +55.2%
Largest owners
Shares Value Change
Vanguard 58.78M $876.43M +2.6%
Wellington Management 56.76M $846.35M +4.3%
BLK BlackRock 42.54M $634.32M -0.5%
STT State Street 23.11M $344.6M -1.2%
PZN Pzena Investment Management 19.55M $291.5M -5.9%
FIL 13.46M $200.7M +65.0%
Deerfield Management 12.15M $181.18M +49.1%
Paulson & Co. 12.01M $179M 0.0%
Aqr Capital Management 11.35M $169.28M +21.9%
Slate Path Capital 10.79M $160.8M NEW
Largest transactions
Shares Bought/sold Change
Slate Path Capital 10.79M +10.79M NEW
D. E. Shaw & Co. 626.28K -6.11M -90.7%
FIL 13.46M +5.3M +65.0%
Norges Bank 0 -5.19M EXIT
IVZ Invesco 8.87M -4.96M -35.9%
Deerfield Management 12.15M +4M +49.1%
Point72 Asset Management 187.8K -3.82M -95.3%
Samlyn Capital 7.29M +3.17M +76.9%
Iridian Asset Management 2.52M +2.52M NEW
Putnam Investments 2.71M +2.52M +1289.2%

Financial report summary

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Risks
  • Mylan, Pfizer and Upjohn may be unable to satisfy the conditions or obtain the approvals required to complete the Combination, and regulatory agencies may delay or impose conditions on approval of the Combination, which may diminish the anticipated benefits of the Combination. Failure to complete the Combination could adversely impact the market price of our shares as well as our business and operating results.
  • The pendency of the Combination could adversely affect our business and operations.
  • The market price of our ordinary shares may be volatile, and the value of your investment could materially decline.
  • Our strategic initiatives may not achieve all intended benefits.
  • We may be adversely affected by significant scrutiny from third parties, including governments, or negative publicity with respect to matters relating to our products, pricing practices and other matters.
  • We have and may continue to experience pressure on the pricing of and reimbursements for certain of our products due to consolidation among purchasers or social and political pressure to lower the cost of drugs.
  • Current and changing economic conditions may adversely affect our industry, business, partners and suppliers.
  • The illegal distribution and sale by third parties of counterfeit versions of our products or of diverted or stolen products could have a negative impact on our reputation and our business.
  • A relatively small group of products may represent a significant portion of our revenues, net sales, gross profit, or net earnings from time to time.
  • Our business could be negatively affected by the performance of our third-party collaboration partners.
  • We may experience reductions in the levels of reimbursement for pharmaceutical products by governmental authorities, health maintenance organizations (“HMOs”), or other third-party payors. In addition, the use of tender systems and other forms of price control, including legislative or regulatory programs impacting pharmaceutical prices, could reduce prices for our products or reduce our market opportunities.
  • Healthcare reform legislation could have a material adverse effect on our business.
  • Provisions in our governance arrangements or that are otherwise available under Dutch law could discourage, delay, or prevent a change in control of us and may affect the market price of our ordinary shares.
  • The expansion of social media platforms presents new risks and challenges.
  • Our failure to comply with applicable environmental and occupational health and safety laws and regulations worldwide could adversely impact our business, financial condition, results of operations, cash flows, and/or ordinary share price.
  • The pharmaceutical industry is heavily regulated, and we face significant costs and uncertainties associated with our efforts to comply with applicable laws and regulations.
  • If we are unable to successfully introduce new products in a timely manner, our future revenue and profitability may be adversely affected.
  • We expend a significant amount of resources on R&D efforts that may not lead to successful product introductions.
  • The development, approval process, manufacture and commercialization of biosimilar products involve unique challenges and uncertainties, and our failure to successfully introduce biosimilar products could have a negative impact on our business and future operating results.
  • Our business is highly dependent upon market perceptions of us, our products, and the safety and quality of our products, and may be adversely impacted by negative publicity or findings.
  • A significant portion of our revenues is derived from sales to a limited number of customers.
  • The supply of API into Europe may be negatively affected by recent regulations promulgated by the EU.
  • We have a limited number of manufacturing facilities and certain third-party suppliers produce a substantial portion of our API and products, some of which require a highly exacting and complex manufacturing process.
  • Our future success is highly dependent on our continued ability to attract and retain key personnel.
  • We are in the process of enhancing and further developing our global ERP systems and associated business applications, which could result in business interruptions if we encounter difficulties.
  • We are subject to the U.S. Foreign Corrupt Practices Act, the U.K. Bribery Act, and similar worldwide anti-corruption laws, which impose restrictions on certain conduct and may carry substantial fines and penalties.
  • Our competitors, including branded pharmaceutical companies, and/or other third parties, may allege that we or our suppliers are infringing upon their intellectual property, including in an “at risk launch” situation, which could result in substantial monetary damages, impact our ability to launch a product and/or our ability to continue marketing a product, and/or force us to expend substantial resources in resulting litigation, the outcome of which is uncertain.
  • We rely on the effectiveness of our patents, trademarks, confidentiality agreements and other measures to protect our intellectual property rights.
  • Our reporting and payment obligations related to our participation in U.S. federal healthcare programs, including Medicare, Medicaid and the Department of Veterans Affairs (the “VA”), are complex and often involve subjective decisions that could change as a result of new business circumstances, new regulations or agency guidance, or advice of legal counsel. Any failure to comply with those obligations could subject us to investigation, penalties, and sanctions.
  • We are involved in various legal proceedings and certain government inquiries and may experience unfavorable outcomes of such proceedings or inquiries.
  • If we fail to comply with our corporate integrity agreement, we could be subject to substantial penalties and exclusion from participation in federal healthcare programs.
  • We are increasingly dependent on IT and our systems and infrastructure face certain risks, including cybersecurity and data leakage risks.
  • We are subject to data privacy and security laws and regulations in many different jurisdictions and countries where we do business, and our or our vendors’ inability to comply could result in fines, penalties, reputational damage, and could impact the way we operate our business.
  • Increasing scrutiny and evolving expectations from customers, regulators, investors, and other stakeholders with respect to our environmental, social and governance practices may impose additional costs on us or expose us to new or additional risks.
  • If the intercompany terms of cross border arrangements that we have among our subsidiaries are determined to be inappropriate or ineffective, our tax liability may increase.
  • We may not be able to maintain competitive financial flexibility and our corporate tax rate which could adversely affect us and our shareholders.
  • Unanticipated changes in our tax provisions or exposure to additional income tax liabilities and changes in income tax laws and tax rulings may have a significant adverse impact on our effective tax rate and income tax expense.
  • We may become taxable in a jurisdiction other than the U.K. and this may increase the aggregate tax burden on us.
  • We have a number of clean energy investments which are subject to various risks and uncertainties.
  • Currency fluctuations and changes in exchange rates could adversely affect our business, financial condition, results of operations, cash flows, and/or ordinary share price.
  • There are inherent uncertainties involved in estimates, judgments and assumptions used in the preparation of financial statements in accordance with U.S. GAAP. Any future changes in estimates, judgments and assumptions used or necessary revisions to prior estimates, judgments or assumptions or changes in accounting standards could lead to a restatement or revision to previously issued financial statements.
  • We must maintain adequate internal controls and be able to provide an assertion as to the effectiveness of such controls on an annual basis.
Management Discussion
  • For the year ended December 31, 2019, Mylan reported total revenues of $11.50 billion, compared to $11.43 billion for the comparable prior year period, representing an increase of $66.6 million, or 1%. Total revenues include both net sales and other revenues from third parties. Net sales for the year ended December 31, 2019 were $11.37 billion, compared to $11.27 billion for the comparable prior year period, representing an increase of $101.6 million, or 1%. Other revenues for the year ended December 31, 2019 were $130.2 million, compared to $165.2 million for the comparable prior year period, a decrease of $35.0 million.
  • The increase in net sales was primarily the result of an increase in net sales in the Rest of World segment of 5% and the North America segment of 2%, partially offset by a decrease in the Europe segment of 3%. Mylan’s net sales were unfavorably impacted by the effect of foreign currency translation, primarily reflecting changes in the U.S. Dollar as compared to the currencies of Mylan’s subsidiaries in the European Union, Australia and India. The unfavorable impact of foreign currency translation on current year net sales was approximately $322.4 million, or 3%. On a constant currency basis, the increase in net sales was approximately $424.0 million, or 4% for the year ended December 31, 2019. This increase was driven by new product sales, partially offset by a decrease in net sales from existing products as a result of lower pricing and volumes.
  • From time to time, a limited number of our products may represent a significant portion of our net sales, gross profit and net earnings. Generally, this is due to the timing of new product introductions and the amount, if any, of additional competition in the market. Our top ten products in terms of net sales, in the aggregate, represented approximately 23% and 20% for the years ended December 31, 2019 and 2018, respectively.
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