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Fly News Breaks for March 30, 2017
INVA
Mar 30, 2017 | 09:09 EDT
Cowen analyst Tyler Van Buren said Mylan's (MYL) complete response letter for its generic version of GlaxoSmithKline's (GSK) Advair could result in at least a 12-18 month delay, which leaves him now expecting Breo will continue to grow unimpeded by Advair generics for 2017 and most of 2018. As a result, he increased his Breo revenues estimates for 2017, 2018, and 2021 and increased his price target on Innoviva (INVA), which gets royalty revenues from Breo sales, to $16 from $15. He keeps an Outperform rating on Innoviva shares.
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