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Morgan Stanley downgrades Mylan, says long-term growth story intact

Oct. 14, 2013 1:29 PM ETViatris Inc. (VTRS) StockVTRSBy: Colin Lokey, SA News Editor
  • Mylan (MYL -1.7%) is suffering through a rough session, underperforming both the broad market and the NASDAQ Biotech Index.
  • Earlier, Morgan Stanley downgraded the shares to Equalweight from Overweight and removed a $41 price target.
  • Although analyst David Risinger believes the "long-term growth outlook remains robust [thanks in part to] a compelling pipeline of high-value, limited competition opportunities in the U.S.," he steps to the sidelines, saying the "market now better appreciates the strength and durability of Mylan's global platform."

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