Mylan N.V. (MYL) announced the U.S. launch of Tadalafil Tablets USP, 20 mg, the first generic version of the reference listed drug, Eli Lilly and Company’s Adcirca®. U.S. sales for Tadalafil Tablets USP, 20 mg, were approximately $510 million for the 12 months ending May 31, 2018, according to IQVIA.
Currently, Mylan has 192 ANDAs pending FDA approval representing approximately $88.3 billion in annual brand sales.
Folks, look at the wicked market we are trading in. Mylan ripped out of the gate for the first 30 minutes and then gave it all back.
You have to get out of the way of a general market sell off. Very few equities are good swing long entries right now. That’s a hard concept for traders to admit to themselves. That could change tomorrow, or the day after, or maybe it won’t. But you can’t force trades and good long most stocks right now.
Even though I like generic drug powerhouse Mylan, I don’t see a good entry right now but I think the stock is worth having on your watch list.