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Fly News Breaks for August 19, 2016
MYL
Aug 19, 2016 | 08:24 EDT
Mylan's EpiPen price increases have received a significant amount of press coverage recently, Wells Fargo analyst David Maris tells investors in a research note. He points out that Senator Bernie Sanders tweeted yesterday to his 2.4M followers: "There's no reason an EpiPen, which costs Mylan just a few dollars to make, should cost families more than $600." Maris believes that while price EpiPen raises can benefit near-term earnings, Mylan is unlikely to benefit in the long run from this type of scrutiny. The analyst has a Market Perform rating on shares of Mylan with a $43-$45 price target range.
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