| 2016-10-10 14:21:07|
MYL 14:21 10/10 10/10/16
Fitch says Mylan settlement 'moves major risk aside'
Fitch in a press release says that Mylan's $465M settlement of claims it had misclassified its EpiPen injector "allays the otherwise significant risk of rebate recoup payments to Medicaid agencies related to the recent EpiPen scrutiny." The company remains subject to other government-related investigations, however, the ratings agency points out. It added, "The announcement brings a greater degree of certainty, and more quickly, than Fitch expected. Mylan will have sufficient liquidity to make the settlement payment without derailing expected de-leveraging subsequent to its mostly debt-funded acquisition of Meda. Still developing, however, is the impact of Mylan's pending launch of its own authorized generic version of EpiPen."