Oct. 3, 2014, 9:10 AM
Oct. 3, 2014, 7:34 AM
- Citing a stronger-than-expected Q3, Mylan (NASDAQ:MYL) increases its Q3 and full-year guidance. For Q3, it now expects non-GAAP EPS to be $1.12 - 1.16 compared to its previous forecast of $0.90 - 0.95. The revised guidance includes $0.14 per share from an agreement with Strides Arcolab Limited. Myan recognized earnings for lost revenues in 2014 that arose from supply disruptions due to quality enhancement efforts initiated at certain Agila locations prior to Mylan's acquisition of Agila from Strides in 2013.
- Mylan ups its 2014 full-year non-GAAP EPS guidance to $3.44 - 3.54 from $3.25 - 3.45.
- The company will report Q3 results on October 30 after the close. The conference call will begin at 4:30 pm ET. Consensus view on revenue is $2.04B.
- Shares are up 4% premarket on light volume.
Apr. 25, 2014, 2:15 PM
Apr. 4, 2014, 9:10 AM
Apr. 4, 2014, 7:14 AM| Apr. 4, 2014, 7:14 AM | Comment!
Feb. 27, 2014, 9:04 AM
- Mylan's (MYL) net profit rose 11% to $180.2M as double-digit growth at the company's specialty segment and in its foreign generics business counter-balanced a 45% drop in revenue from new products following approval delays.
- Gross margin increased to 44% from 43.1%.
- Projects 2014 EPS of $3.25-3.60 vs consensus of $3.38 and revenue of $7.8-8.2B vs $7.75B.
- Mylan expects to make another "substantial transaction" this year, although the company didn't provide details.
- Shares are +3%. (PR)
Jan. 7, 2014, 9:58 AM
- BofA upgrades Perrigo (PRGO +1.2%) to Buy from Neutral. RBC starts the shares as a Top Pick, with a $187 price target.
- BofA upgrades Becton Dickinson (BDX +0.8%) to Neutral from Underperform.
- RBC upgrades Johnson & Johnson (JNJ +1.6%) to Outperform from Sector Perform. Price target is $104.
- Citi upgrades Varian Medical (VAR +1.6%) to Neutral from Sell.
- Roth starts ANI Pharma (ANIP +9.5%) at Buy. Price target is $27.
- RBC starts Teva (TEVA +0.1%) at Sector Perform. Price target is $39.
- RBC starts AcelRx (ACRX +2.5%) at Outperform. Price target is $15.
- RBC starts Mylan (MYL +2.3%) at Outperform. Price target is $50.
- RBC starts Allergan (AGN +1.3%) at Outperform. Price target is $131.
- RBC starts Impax Labs (IPXL +0.2%) at Sector Perform. Price target is $25.
Nov. 20, 2013, 3:15 PM
- Shares of Teva (TEVA +3.7%) are trading notably higher on the session.
- Helping the cause is Susquehanna, where analysts have upgraded the stock to Positive from Neutral.
- Price target is now $50 (from $43).
- Meanwhile, the rumor mill is alive with talk of a possible merger with either Mylan (MYL +0.8%) or Valeant (VRX +0.1%).
- "People are looking for the company to do something,” an S&P analyst quoted by Bloomberg says.
Oct. 14, 2013, 1:29 PM
- 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."
Sep. 12, 2013, 11:12 AM
- Goldman raises its price target on Mylan (MYL +1.2%) to $46 from $40, citing "increased confidence in key revenue and earnings drivers."
- Analyst Jami Rubin ups the forecast for 2018 EPS to $4.50 which, although below MYL's own expectations (as derived from its 5-year compound annual growth rate guidance), is above consensus.
- A key driver behind the call: A higher "probability for generic Copaxone and Advair/Seretide."
- Rubin says generic Advair/Seretide could add over $2 to EPS on an unadjusted basis.
Sep. 10, 2013, 3:56 PM
- Mylan (MYL +4.6%) hits another fresh high as the FDA's guidance regarding generic versions of Glaxo's (GSK) Advair strikes optimism that the generic-drug maker will one day get clearance to sell its own soon.
- Up to now, no generic competitor to Advair has emerged because it's been unclear what would be required by regulators in order to win approval.
- The FDA’s new guidelines now make it possible for Advair rivals to hit the market by 2016 or 2017.
- MYL is considered one of the most viable companies to develop an Advair competitor.
Sep. 3, 2013, 3:40 PM
- Mylan (MYL +1.3%) says its proposed acquisition of the Agila injectables businesses from Strides Arcolab has received approval from India's Foreign Investment Promotion Board.
- The deal also received approval from the Cabinet Committee on Economic Affairs.
- The approval comes as a relief for MYL, as India had frozen the deal earlier this year, and was considering a change to its foreign investment laws to protect the country's supply of cheap, lifesaving drugs.
- The transaction is expected to close in Q4.
Aug. 2, 2013, 10:27 AM| Aug. 2, 2013, 10:27 AM | Comment!
May 14, 2013, 1:29 PM
May 2, 2013, 5:18 PMMore on Mylan (MYL): Q1 misses on top line estimates as net earnings fell 17% Y/Y amid acquisition-related expenses and other items. The generic-drug maker reported modest growth for the quarter, thanks to its specialty business which posted revenue growth of 22% to $226.6M. Generics revenue was flat at $1.41B, as growth in its EMEA segment and its Asia Pacific business was offset by declines in North America. Gross margin rose slightly to 42.5% from 42.3%. Shares -3.4% AH. | May 2, 2013, 5:18 PM | Comment!
Apr. 30, 2013, 1:44 PM
Other News & PR