Barclays Upgrades Mylan Laboratories To Overweight, Raises Price Target to $50
May 22, 2017: Barclays upgrades Mylan N.V. to an Overweight rating and raised the price target to $50 from $47. Barclays likes the favorable risk versus reward given opportunities for the company, most notably winning approval for its generic version of Copaxone this year, possibly as soon as next month. Barclays says its understandable to be skeptical that Mylan will win approval now after years of promises. Nevertheless, while accepting risk of another delay, it appears MYL’s chances are better than current market expectations. Barclays says their thesis doesn’t rest on Copaxone since their are other product catalysts including gx Restasis, biosimilar Neulasta & Lantus.
April 20, 2017: Mylan Laboratories Inc announced the U.S. launch of Perphenazine Tablets USP, 2 mg, 4 mg, 8 mg and 16 mg, a generic version of the reference listed drug, Trilafon Tablets 2 mg, 4 mg, 8 mg and 16 mg, originally marketed by Schering. Mylan received final approval from the U.S. Food and Drug Administration (FDA) for its Abbreviated New Drug Application (ANDA) for this product, which is used in the treatment of schizophrenia and for the control of severe nausea and vomiting in adults.
February 6, 2017: Mylan stock got my attention today because the stock climbed on the news that Mylan has to pay $96.5 million in settlement of the Provigil antitrust class action suit. The settlement covers allegations that Mylan delayed launching its generic version of Cephalon narcolepsy drug Provigil in exchange for payment from Cephalon. The settlement disclosed in Pennsylvania federal court filings on Friday and still requires court approval.
There’s a lot of buy side pressure in Mylan right now as evidenced by the fact that even a $96.5 million settlement has not slowed down the buying.
Mylan Stock Chart
May 11, 2017 Mylan Twiggs Money Flow Chart
Mylan is a global pharmaceutical company committed to setting new standards in health care. Working together around the world to provide 7 billion people access to high-quality medicine, we innovate to satisfy unmet needs; make reliability and service excellence a habit; do what’s right, not what’s easy; and impact the future through passionate global leadership. We offer a growing portfolio of around 1,400 generic pharmaceuticals and several brand medications. We’re one of the largest generics and specialty pharmaceutical companies in the world, manufacturing, and marketing more than 2,700 different products to retail, wholesale, government, and institutional customers.
Latest posts by Lance Jepsen (see all)
- Blackberry Stock Back From the Dead On QNX Operating System - May 29, 2017
- China ETFs All the Rage In 2017 - May 29, 2017
- S&P 500 Index Does Breakout, 2500 Next - May 28, 2017