Feb. 27--Generic drugmaker Mylan Inc. boosted profit 11 percent in the fourth quarter on gains in revenue.
The Cecil-based company said it had net income of $180.2 million, or 45 cents a share, in the October-December quarter, up from $162 million, or 39 cents a share, in the same period the previous year.
Revenue in the quarter was $1.8 billion, up from $1.7 billion.
On an adjusted basis, the company said profit was 78 cents a share, up 20 percent from 65 cents a share the year before.
Mylan CEO Heather Bresch said the strong results have put the company in a position to make "another substantial acquisition" this year.
Investors responded to the news by trading the stock higher. Shares were up $3.36 to $54.78, a 6 percent gain, on Thursday morning.
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