Mylan reports rise in revenue, EPS during second quarter
PITTSBURGH Increases in revenues and earnings per share were among the highlights of the last three months for generic drug company Mylan, according to a second quarter 2009 earnings release Thursday.
Total revenues for the three months ending June 30 were $1.27 billion, a $64 million increase over second quarter 2008. Adjusted earnings per share were 32 cents, compared with 20 cents last year. Earnings per share for the first half of 2009 were 65 cents, compared with 29 cents last year. On a GAAP basis, however, earnings per share for the quarter were 19 cents, a five-cent decrease compared with second quarter 2008.
“This was yet another successful quarter on many fronts for Mylan as, across the board, we delivered another quarter of financial performance that exceeded our expectations,” Mylan chairman and CEO Robert Coury said in a statement. “Our powerful and integrated global platform enabled each of our businesses to generate year-over-year quarterly revenue growth on a constant currency basis and to deliver additional operational efficiencies as well.”
Cardinal Health names new CIO
DUBLIN, Ohio Cardinal Health announced the appointment of Patricia Morrison as chief information officer, effective Aug. 3.
Morrison, 50, will be responsible for the company’s enterprise-wide information technology infrastructure and will work to enhance the infrastructure to support Cardinal Health’s strategic business needs. She will report to George Barrett, who will become chairman and CEO of Cardinal Health following the planned spinoff of its clinical and medical products businesses.
Morrison has served as CIO at Motorola, Inc., where she oversaw all strategic, operational and functional aspects of the company’s information technology in 140 countries. Her previous experience also includes CIO of Office Depot, Inc.; and senior-level information technology positions at General Electric, PepsiCo, Procter & Gamble and The Quaker Oats Co.
Morrison is replacing Jody Davids, who decided to step away from the CIO role to take time off to pursue personal interests.
“We’re very pleased to have someone of Patricia’s caliber joining the Cardinal Health leadership team,” Barrett said. “Her significant experience with systems in large, complex organizations positions her perfectly to execute the long-term IT strategy Jody and her team have developed in support of our company.”
Jewel-Osco to launch retail clinic with help of Physicians Prompt Care Centers
FRANKLIN PARK, Ill. Jewel-Osco, a Midwest food and drug retailer, has partnered with Tinley Park-based Physicians Prompt Care Centers to launch Physicians Prompt Care Express, the Supervalu chain announced Wednesday.
Board-certified Prompt Care Express physicians will offer high-quality, convenient and affordable medical services from a newly-constructed health clinic inside of the Jewel-Osco, marking Jewel-Osco’s first point of entry into Chicago’s retail medical clinic business. It establishes the second ambulatory care site operated by Prompt Care Physician Centers LLC.
“Jewel-Osco is proud to partner with Physicians Prompt Care Centers to bring a unique health care experience to Orland Park and the surrounding communities,” stated Chris Dimos, president, Jewel-Osco Pharmacies. “Access to quality and affordable health care is one of the top issues facing our communities today. In integrating the new medical clinic into our store, we aim to eliminate some of the barriers – like cost, work and school schedules, and even proximity – that can block our customers’ ability to receive needed medial attention.“ Physicians Prompt Care Express will accept most major insurance plans including Medicare. Cash paying customers can expect to pay less than the total cost of a typical hospital emergency room visit.