May 2, 2013 / 8:17 PM / 7 years ago

Mylan first-quarter profit edges past Wall St estimates

May 2 (Reuters) - Mylan Inc on Thursday reported slightly higher-than-expected first-quarter profit as sales were boosted by demand for its generic drugs in Europe and the Asia/Pacific regions.

The generic drugmaker said net profit fell to $106.9 million, or 27 cents per share, compared with profit of $129.1 million, or 30 cents per share, a year earlier.

Excluding items, such as acquisition-related costs and licensing payments, Mylan earned 62 cents per share. Analysts on average expected 61 cents per share, according to Thomson Reuters I/B/E/S.

Revenue rose 3 percent to $1.63 billion, just shy of Wall Street estimates of $1.69 billion.

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