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Fly News Breaks for March 27, 2019
MYL
Mar 27, 2019 | 07:24 EDT
Argus analyst Jasper Hellweg lowered his price target on Mylan to $32 to reflect its recent earnings miss and a range of issues over the past few quarters that included the loss of marketing exclusivity on certain drugs, controversies surrounding the EpiPen, and manufacturing bottlenecks. The analyst is keeping his Buy rating however and believes that Mylan may be reaching an inflection point after launching several key new generic and biosimilar products in 2018 and expanding its product portfolio. Hellweg adds that while Mylan "may face uneven results in the near-term as it works through the costs associated with the launch of new items", he also believes that the company is "on the right track to restore growth."
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