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MYL

Mylan

$38.03

0.06 (0.16%)

16:59
10/05/16
10/05
16:59
10/05/16
16:59

Lawmakers: Report from CMS shows 'misclassification' of EpiPen as generic

Senate Finance Committee ranking member Ron Wyden and House Energy and Commerce Committee ranking member Frank Pallone issued a statement after receiving a letter from the Centers for Medicare & Medicaid Services regarding the "misclassification of EpiPen as a generic drug for nearly two decades." The letter from CMS "backs up" Wyden and Pallone's claim that EpiPen has been misclassified as a generic drug since the fourth quarter of 1997, despite "all evidence indicating it was a brand-name drug," according to the lawmakers. The letter also notes that Medicaid has spent nearly $800M on EpiPen since 2011, which includes the lower generic rebate of 13%, which the drug manufacturer is required to pay back to Medicaid. The correct rebate would have been at least 23.1%, plus an additional inflationary rebate. Reference Link

  • 07

    Oct

  • 28

    Mar

MYL Mylan
$38.03

0.06 (0.16%)

09/22/16
ARGS
09/22/16
NO CHANGE
ARGS
Mylan weakness creates good entry point, says Argus
After Mylan's stock fell 17% over the last month, Argus analyst Jacob Kilstein thinks that the stock has reached an attractive entry point, He says that the company's new generic EpiPen will cannibalize branded sales but should help it beat upcoming generic competitors. He thinks that the stock is undervalued and keeps a Buy rating on the stock.
09/23/16
BERN
09/23/16
NO CHANGE
BERN
Mylan generic Epipen to lower EPS by about 10%, says Bernstein
Bernstein analyst Aaron Gal estimates that Mylan's decision to introduce a generic version of its EpiPen will create a drag of about 10% on its EPS. After viewing the Congressional hearings on the device, Gal continues to believe that a competitor to EpiPen will hit the market before the end of 2018. He keeps a $60 price target and Outperform rating on Mylan.
09/30/16
LEER
09/30/16
NO CHANGE
Target $45
LEER
Outperform
Mylan price target cut to $45 on lower EpiPen estimates at Leerink
Leerink analyst Jason Gerberry lowered his EpiPen sales forecasts by 33-45% from 2017-2021 in light of recent company updates, including its plan to launch an authorized generic of the emergency treatment later this year. While Mylan "appears on the right side of the law" regarding the latest Medicaid rebate controversy, Gerberry believes investors should consider the risk of a future settlement related to the issue. He cut his price target on Mylan shares to $45 from $55, but keeps an Outperform rating on the stock as he sees cash flows being sufficient to justify the current price.
10/04/16
JPMS
10/04/16
NO CHANGE
Target $52
JPMS
Overweight
Mylan price target lowered to $52 from $62 at JPMorgan
JPMorgan analyst Chris Schott lowered his price target for Mylan to $52 saying he remains cautious on the shares over the near-term given the ongoing Epipen controversy. The analyst, however, views the stock as "very inexpensive" and keeps an Overweight rating on the name. Schott sees a limited long-term impact to his thesis from the Epipen controversy and believes Mylan's generics business is underappreciated. He maintains an Overweight rating on the shares.

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