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Fly News Breaks for July 8, 2019
ZTS, ELAN
Jul 8, 2019 | 12:01 EDT
Evercore ISI analyst Umer Raffat notes that the first generic for Rumensin has been approved, earlier than expected by Elanco (ELAN), which had modeled a possible generic entry in 2020. Many investors had assumed that Zoetis (ZTS) "may be the first generic" but it was "actually a Hungarian company, Huvepharma," the analyst noted. Raffat also highlighted that Rumensin is Elanco's biggest product. The analyst has an Outperform rating on Elanco's shares.
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