real-time news and commentary for investors
Friday, Oct 18
BMO reportedly cautious on Mylan after Agila FDA letter
- According to market chatter, BMO's David Maris apparently thinks an FDA warning letter to Agila alleging manufacturing norm violations may result in an import alert on Agila products, similar to the Ranbaxy debacle.
- This would be bad news for Mylan (MYL) which acquired Agila for $1.6B. (more on the deal here)
- As Forbes noted recently, the most disconcerting problem cited by the FDA revolves around "defective" gloves. Here's what the regulator had to say: "Defective gloves are especially concerning, in part, because they were used to perform manipulations directly over empty vials."