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Mylan Inc (MYL)

- NASDAQ
  • 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.
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  • Aug. 2, 2013, 10:27 AM
    • Morgan Stanley's David Risinger upgrades Mylan (MYL +6.2%) to Overweight.
    • Price target is $41 which represents an 11 multiple on a 2015 EPS estimate of $3.75.
    • Risinger also says the company's analyst meeting "provided visibility on key medium-long term growth drivers."
    • Also: Q2 earnings.
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  • May 14, 2013, 1:29 PM
    Actavis (ACT +1.2%) spikes on reports that the company recently turned away a $15B bid from Mylan (MYL +0.1%).
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  • May 2, 2013, 5:18 PM
    More 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.
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  • Apr. 30, 2013, 1:44 PM
    The FDA approves Raptor Pharmaceuticals' (RPTP +11%) Procysbi, a delayed-release version of Mylan's (MYL -0.1%) Cystagon. The drugs treat nephropathic cystinosis. RPTP could see revenues of $77M in 2015 from the drug, Bloomberg says.
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  • Feb. 27, 2013, 5:18 PM
    Mylan (MYL) acquires Agila Specialties, a developer, manufacturer and marketer of high-quality generic injectable products, from Strides Arcolab for $1.6B in cash. The acquisition significantly expands MYL's global injectables platform and will provide entry into new high-growth geographic markets. The acquisition is expected to close in Q4 of 2013 should be immediately accretive to earnings. Shares +1.8% AH.
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  • Feb. 27, 2013, 5:02 PM
    Mylan Labs (MYL): Q4 EPS of $0.65 beats by $0.02. Revenue of $1.72B (+13% Y/Y) misses by $0.01B. Shares -2% AH. (PR)
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  • Nov. 21, 2012, 12:51 PM
    Mylan (MYL +1.5%) says it's board has approved a buyback of up to $500M in common stock. The news follows an earlier report that Moody's had upgraded the company's credit ratings to Baa3 from Ba1 and that S&P raised its credit rating to BBB- from BB+.
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  • Aug. 2, 2012, 11:13 AM
    Gilead Sciences (GILD +8.3%) says it plans to partner with Mylan (MYL -1.5%), Ranbaxy Laboratories (RBXZF.PK) and Strides Arcolab to promote access to generic versions of Gilead's HIV medicine containing Emtricitabine in developing countries. The drug is marketed by GILD under the brand names Emtriva and Truvada. WHO guidelines recommend the drug as preferred components of first and second line HIV therapy.
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  • Jul. 26, 2012, 8:39 AM
    Mylan Labs (MYL): Q2 EPS of $0.6 beats by $0.05. Revenue of $1.69B (+7.4% Y/Y) beats by $0.03B. Shares +2.6% premarket. (PR)
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  • Jul. 18, 2012, 11:43 AM
    Somaxon (SOMX +83%) soars this morning - after initially surging over 150% in pre-open trading - on the back of yesterday's announcement of its litigation settlement over Silenor with Mylan (MYL +0.8%) and Par Pharmaceuticals. The company added that it sees higher Q2 net sales for Silenor, now seeing revenue of approximately $2.8M to $2.9M, up from reported sales of $2.7M in Q1.
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  • Jun. 24, 2012, 9:07 AM
    Teva Pharmaceutical (TEVA) is +10.5% in Tel Aviv following the favorable ruling on its Copaxone patent in a case against Momenta (MNTA) and Mylan (MYL). While industry watchers had assumed Teva would prevail, with ~35% of its EPS at risk, a hearty sigh of relief isn't surprising.
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  • May 10, 2012, 2:24 PM
    Mylan (MYL +1.9%) gets a bump higher after the generic-drug maker raised its FY12 earnings outlook earlier today. It now expects to earn between $2.45 - $2.55 per share. Street consensus is for an EPS of $2.42. The company also outlined plans to repurchase up to $500M in stock in a bid to increase shareholder value.
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  • Mar. 2, 2012, 3:58 PM
    Mylan (MYL -2.1%) trades lower thanks to an unfavorable ruling in its patent infringement suit against Sunovion Pharmaceuticals related to its Brovana respiratory drug. A New York court granted a motion related to one of Sunovion's patent defenses, and also the company's request to limit damages. Mylan says it's appealing the ruling, and will continue to pursue an injunction.
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  • Feb. 14, 2012, 3:32 PM
    Mylan (MYL +1%) gains on an upgrade to Buy from at Goldman, citing improved earnings visibility and an underestimated margin expansion led by the company's EpiPen product mix shift.
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  • Dec. 20, 2011, 12:50 PM
    Mylan (MYL +3.5%) says one of its subsidiaries has received approval for three antiretroviral therapies used to treat HIV/AIDS under the World Health Organization's Prequalification of Medicines Program.
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Company Description
Mylan NVtogether with its subsidiaries, is a pharmaceutical company, which develops, licenses, manufactures, markets and distributes generic, branded generic and specialty pharmaceuticals.
Sector: Healthcare
Industry: Drugs - Generic
Country: United States