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Fly News Breaks for November 2, 2016
MJN
Nov 2, 2016 | 08:07 EDT
JPMorgan analyst Ken Goldman calls Mead Johnson retaining the California Department of Health infant formula WIC contract a "slight negative" given the "much higher" rebate rate it used to win. The analyst estimates that Mead agreed to pay a 106% rebate, up from 85% in the current contract. Goldman keeps a Neutral rating on Mead shares.
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