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MYL

Mylan Inc

5/24/2013, 8:04 PM ET

Quote & Headlines Market Currents StockTalk

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Tuesday, May 21, 12:11 PM Bernstein analyst Aaron Gal says Mylan (MYL -0.4%) could still bid $22/share for Warner Chilcott (WCRX +2.2%) as the latter's "willingness" to accept an all-share deal from Actavis (ACT +0.6%) might bring others to the table. Comment! [Healthcare, M&A]
Tuesday, May 21, 10:14 AM Mylan's (MYL -0.7%) says a Federal Circuit has reversed the District Court's decision invalidating five of its patents related to Perforomist. reinstating them as valid and enforceable. The company had previously announced a settlement agreement with Sunovion resolving the litigation relating to Sunovion's Brovana - pending the outcome of the appeal. Perforomist and Brovana are inhalers for treating bronchoconstriction in patients with COPD. Comment! [Healthcare]
Friday, May 17, 2:34 PM Actavis' (ACT +1.5%) pursuit of Warner Chilcott (WCRX +0.5%) may be a way to defend itself from a potential takeovers by Valeant Pharmaceuticals (VRX +2.5%) and Mylan (MYL +2.2%). VRX routinely looks at potential acquisitions, but to date has stayed away from WCRX because of its dwindling pipeline, so a combined ACT/WCRX deal would be out of the picture. And it would be virtually impossible for MYL, with a market value of $11.7B, to buy the combined firm. It already has about $6B in debt and Street estimates put a combined companies near $21B. Comment! [Healthcare, M&A]
Wednesday, May 15, 8:28 PM Actavis (ACT), which has rebuffed overtures from both Valeant (VRX) and more recently Mylan (MYL), may soon receive a bid from Novartis (NVS), WSJ says. "Intense price competition and fewer opportunities to cash in on patent expirations," are fueling a consolidation scramble in the generic-drug industry, the Journal notes, and ACT — which is also playing the role of acquirer in negotiations with Warner Chilcott (WCRX) — is at the center of the deal-making rumor mill. Comment! [Healthcare]
Wednesday, May 15, 12:14 PM Mylan (MYL +0.4%) receives final approval from the FDA for its Abbreviated New Drug Application for Zolmitriptan Tablets, a generic version of IPR Pharmaceuticals migraine treatment Zomig. Zolmitriptan had U.S. sales of approximately $152.8M for the 12 months ending March 31. MYL has already begun shipping. Comment! [Healthcare]
Tuesday, May 14, 1:29 PM Actavis (ACT +1.2%) spikes on reports that the company recently turned away a $15B bid from Mylan (MYL +0.1%). Comment! [Healthcare, On the Move, M&A]
Thursday, May 2, 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. Comment! [Healthcare, Earnings, On the Move]
Thursday, May 2, 4:34 PM Mylan Labs (MYL): Q1 EPS of $0.62 in-line. Revenue of $1.63B misses by $0.07B. (PR) Comment! [Earnings, Breaking News, Healthcare]
Thursday, May 2, 12:10 AM Notable earnings after Thursday’s close: ACLS, ACTV, ADNC, AGNC, AIG, ALSK, AREX, ARNA, ATHN, BBG, BCOR, BERY, BRKR, CBI, CNQ, DNB, DOLE, DRIV, EGO, ELON, ELX, FBHS, FLR, FLT, GEOS, GHDX, GILD, GMED, GTY, HAIN, HI, HMA, HTGC, INVN, KOG, KRFT, LNKD, MKH, MTZ, MYL, NBIX, NFG, NILE, NSR, ONNN, OPEN, PKT, PWER, QLGC, SKUL, SPF, SPWR, SWN, TDC, THOR, TPX, TSYS, TTMI, WTW, WWWW, XL, ZAGG Comment! [Earnings]
Wednesday, May 1, 5:35 PM Notable earnings after Thursday’s close: ACLS, ACTV, ADNC, AGNC, AIG, ALSK, AREX, ARNA, ATHN, BBG, BCOR, BERY, BRKR, CBI, CNQ, DNB, DOLE, DRIV, EGO, ELON, ELX, FBHS, FLR, FLT, GEOS, GHDX, GILD, GMED, GTY, HAIN, HI, HMA, HTGC, INVN, KOG, KRFT, LNKD, MKH, MTZ, MYL, NBIX, NFG, NILE, NSR, ONNN, OPEN, PKT, PWER, QLGC, SKUL, SPF, SPWR, SWN, TDC, THOR, TPX, TSYS, TTMI, WTW, WWWW, XL, ZAGG Comment! [Earnings]
Tuesday, April 30, 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. Comment! [Healthcare, On the Move]
Friday, April 5, 6:19 PM J.P. Morgan's Thomas Lee notes that several laggards in the first quarters of 2009-12 rebounded in Q2, so he figures select tech stocks look appealing now. Tech's forward P/E ratio is below the market's for the first time in 17 years, Lee says. His most noteworthy call is to buy Apple (AAPL), which slid 16% Q/Q. Some other favorites: BRCM, CHKP, ESRX, MYL, TASR, CHS, F, COF. 14 Comments [Tech, Quick Ideas]
Thursday, April 4, 8:38 AM Mylan's (MYL) success in obtaining approval for a generic version of Valeant's (VRX) Zovirax herpes ointment will hit the latter's cash EPS by $0.30-0.40 in 2013. Valeant says that product acquisitions, the repricing of its term loan debt, and other factors will help mitigate the impact of the genericization of Zovirax. VRX is +1.5% after slumping 4.6% yesterday. (PR) Comment! [Healthcare]
Wednesday, April 3, 5:25 PM Mylan (MYL), which traded markedly lower for most of the session Wednesday, retraced most of its losses to close nearly flat after announcing it has received final FDA approval to ship the first generic version of Valeant's (VRX) Zovirax Ointment. Shares of VRX moved sharply lower after the announcement. Comment! [Healthcare]
Wednesday, March 13, 4:02 PM Mylan (MYL -0.1%) says its subsidiary Mylan Pharmaceuticals has reached a settlement with Shionogi and Andrx to resolve patent litigation related to the generic version of Shionogi's Fortamet, an adjunct to diet and exercise to lower blood glucose. The terms of the settlement agreement are confidential, but has been disclosed it that MYL may launch a generic version of Fortamet on August 1, 2013, or earlier under certain conditions. Comment! [Healthcare, Global & FX]
Wednesday, February 27, 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. 1 Comment [Healthcare, M&A, On the Move]