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Mylan Inc (MYL)

  • 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."
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  • 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.
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  • 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.
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  • 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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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