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Fly News Breaks for August 30, 2016
MYL
Aug 30, 2016 | 09:07 EDT
Bernstein analyst Aaron Gal says that Mylan's decision to lower the price of Epipen for payors is a "smart move." The analyst says that Mylan will get some credit for responding to the outcry over the issue, and he thinks that the debate "may gradually shift" to the burden of copays and coinsurance on the middle class. However, Gal believes that Mylan will continue to face some heat, and he thinks that the FDA will be pressured to allow more competitors to Mylan to enter the market. Nevertheless, he keeps a $60 price target and Outperform rating on the shares.
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