UPDATE: Mylan Reports Stronger-Than-Expected Q2 Results

Mylan Inc MYL reported a 70% rise in its second-quarter earnings. Mylan reported its quarterly profit at $146.4 million, or $0.33 per share, up from $86.2 million, or $0.16 per share, in the year-ago period. Excluding items, Mylan's earnings came in at $0.52 per share. Its revenue climbed 15% to $1.57 billion. However, analysts were expecting earnings of $0.45 per share on revenue of $1.49 billion. Mylan shares fell 0.04% to close at $23.55 yesterday.