In an effort to cleanse its balance sheet, Mylan is looking for a buyer for its emergency-treatments business and placing its hopes in generic drugs sales. Meanwhile, the other generic drug manufacturers are a bit of a mixed bag. The Canonsburg, Pa.-based pharmaceutical company’s stock was off 11.0%, or $1.37, to $11.09, on Friday afternoon, just hours after the company announced Thursday night that it swung to a loss of $409.2 million, or $1.46 per share, compared with a loss of $71.3 million, or 31 cents per share, in the prior-year period. The company said the loss was due to a $385 million noncash goodwill impairment charge related to its specialty business, Dey, which mainly produces injectable products for allergy and breathing conditions. Mylan announced at the end of February that it was looking to sell the Dey business, which brought in $89.5 million in sales during the quarter. The goodwill impairment means Dey is worth less than implied when Mylan purchased the generic-drug arm of Germany’s Merck for $6.6 billion in May of last year.
