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Fly News Breaks for August 16, 2018
TEVA, MYL
Aug 16, 2018 | 15:03 EDT
Wells Fargo analyst David Maris said he believes the EpiPen generic seemed to have been thought of as a 2019 event by Mylan (MYL) and Teva (TEVA) investors, so the FDA approval today of the first generic EpiPen came earlier than expectations, which is both good news for Teva and negative news for Mylan. Mylan no longer breaks out the Specialty segment, so it is difficult to estimate how meaningful this is to the company, said Maris, but he believes "this is still an important product to Mylan." He keeps a Market Perform rating on Mylan shares, and for Teva calls the approval "a great addition for a company in need of good news."
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