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Fly News Breaks for October 9, 2018
MYL
Oct 9, 2018 | 07:39 EDT
As previously reported, Morgan Stanley analyst David Risinger downgraded Mylan to Equal Weight from Overweight, stating that recent generics trends leave him seeing downside risk to consensus forecasts and Mylan's 2018 guidance. He also noted that Epipen earnings will likely gap down in 2019 due to the imminent generic launch by Teva (TEVA) and that Mylan's biosimilars and complex products strategy is facing greater commercial challenges. Risinger, who lowered his 2018-2020 EBITDA CAGR to 4% from 8%, cut his price target on Mylan shares to $36 from $46.
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