Mylan Inc. (MYL) provided its financial guidance for 2012, reaffirmed its growth targets for 2013, and outlined the key drivers for the company's continued long-term growth beyond 2013.
Mylan provided 2012 financial guidance that includes adjusted diluted earnings per share of between $2.30 and $2.50, and which would represent 18% growth over 2011 at the midpoint of the range. The company's guidance range for 2012 revenue is $6.8 billion to $7.2 billion, representing 14% annual growth at the midpoint of the range.
Analysts polled by Thomson Reuters expect the company to report earnings of $2.41 per share on revenues of $6.87 billion for fiscal 2012. Analysts' estimates typically exclude special items.
Mylan reaffirmed its target of $2.75 of adjusted earnings per share in 2013, representing annual growth of 15% (from the midpoint of its 2012 range), and updated its 2013 revenue target to $7.5 billion.
Mylan said that it will continue to invest significantly in its existing platform and from 2013 through 2016 expects to spend an additional $2.0 billion in research and development and $1.4 billion on capital expenditures, while increasing its annual manufacturing capacity to in excess of 82 billion doses.
In 2012, Mylan expects to market over 4,700 products and this number is expected to increase to over 6,700 products by 2015.
Mylan is currently targeting adjusted earnings per share of $6.00 in 2018, with opportunities already in house.
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