Mylan cuts loss by 70% on Merck generics

US generics major Mylan Pharmaceuticals has cut its loss by more than 70% on its first full year of revenue from the generics business it  purchased from Germany's Merck KGaA in 2007 (Marketletters passim).

The firm's net loss was reduced to $320.3 million, or $1.05 loss per  share, versus $1.23 billion, or $4.91 loss per share. Cash and cash  equivalent assets were increased by 15% to $557.1 million between  December 31, 2007, and a year later.

Sales up 93% on Merck generics revenue