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MYL

Mylan

$40.88

0.15 (0.37%)

14:17
04/23/18
04/23
14:17
04/23/18
14:17

Mylan confirms layoffs affecting about 15% of Morgantown workforce, WDTV says

On Friday, 5 News WDTV of West Virginia reported that a Mylan representative released the following statement to the local CBS affiliate: "Today/on Friday, we announced layoffs affecting about 15% of our workforce in Morgantown, primarily in operations. Following the layoffs, we will remain one of the largest employers in West Virginia with approx. 3,000 employees. We believe our plant there/here is one of the largest pharmaceutical manufacturing facilities in the world. As the industry has changed and regulatory expectations have continued to evolve, we've realized that our Morgantown plant needed to be rightsized to be less complex. The right-sizing is consistent with discussions we are having with the U.S. Food and Drug Administration and is necessary in order to position the site as best we can for continued operations. We remain committed to a U.S. manufacturing base and plan to continue making the majority of the medicines we supply to the U.S in the U.S." Reference Link

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MYL Mylan
$40.88

0.15 (0.37%)

04/12/18
JPMS
04/12/18
NO CHANGE
Target $53
JPMS
Overweight
Mylan shares remain 'highly inexpensive,' says JPMorgan
JPMorgan analyst Chris Schott says his positive longer term thesis is unchanged following Mylan's investor day. Commentary on the near-term pipeline remained upbeat and Mylan highlighted multiple long-term revenue drivers, Schott tells investors in a research note. He believes the company's "significant" generic Advair opportunity, as well as other potential near-term approvals, more than offset any downside risk from ongoing challenges in the U.S. generics market. The analyst thinks Mylan shares remain "highly inexpensive." Schott keeps an Overweight rating on the name with a $53 price target.
04/12/18
04/12/18
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Incyte (INCY) upgraded to Buy from Neutral at UBS with analyst Carter Gould saying the stock offers an improved risk/reward profile after resetting lower on negative epacadostat Phase 3 data and removal of the drug from analyst models. 2. TechnipFMC (FTI) upgraded to Buy from Neutral at Goldman Sachs with analyst Waqar Syed saying while his 2018/2019 EBITDA estimates are little changed, his 2020 EBITDA estimates have been raised nearly 18% owing to expectations for higher inbound orders in 2019 for the Subsea and Onshore/Offshore segments. 3. Prologis (PLD) upgraded to Buy from Hold at Jefferies with analyst Jonathan Petersen saying he sees the company posting one of the strongest levels of internal growth among the blue-chip real estate investment trusts in 2018. 4. Mylan (MYL) upgraded to Outperform from Market Perform at Leerink with analyst Ami Fadia citing valuation disconnect given the diversified business and catalyst path. 5. Summit Hotel Properties (INN) upgraded to Buy from Underperform at BofA/Merrill with analyst Shaun Kelley citing relative valuation, its potential to outperform peers on the top-line in an accelerating RevPAR environment, and lower relative cost pressure given a lower proportion of labor costs. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/18/18
LEHM
04/18/18
NO CHANGE
Target $230
LEHM
Overweight
Barclays sees 'significant challenges' for Botox biosimilar
Barclays analyst Douglas Tsao says that while he'd probably stop short of calling it "mission impossible," he sees "significant challenges" in the development of a biosimilar to Allergan's (AGN) Botox. Following a deep dive into the key issues Mylan (MYL) will likely face in developing a biosimilar Botox, the analyst and concluded that it seems "technically difficult and faces a long road ahead." Even a best case scenario puts timing out to 2023, Tsao tells investors in a research note. The analyst has an Overweight rating on Allergan with a $230 price target.
04/19/18
WELS
04/19/18
NO CHANGE
WELS
Wells says bottom has not been reached in generics pricing
After Aceto (ACET) cited the continued intense competitive and pricing pressures in the generic industry when withdrawing its guidance last night, and Novartis (NVS) this morning reported that net sales at its generic unit Sandoz dropped 4% in the quarter, Wells Fargo analyst Davis Maris says he's not ready to call the bottom in generics pricing. Those that have are premature, Maris tells investors in a research note titled "Negative Read Throughs For Generics Continue." The Aceto and Sandoz pricing news shows the data continue to be negative for U.S. generic industry pricing, the analyst contends. He sees a negative read-through for companies with large U.S. commodity generic exposure, such as Teva (TEVA) and Mylan (MYL).

TODAY'S FREE FLY STORIES

RYTM

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AMCX

AMC Networks

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APTX

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TV

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CX

Cemex

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0.115 (1.85%)

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KMT

Kennametal

$37.44

1.11 (3.06%)

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SYNT

Syntel

$34.07

0.65 (1.94%)

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MGTA

Magenta Therapeutics

$0.00

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XERS

Xeris Pharmaceuticals

$0.00

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  • 21

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KR

Kroger

$26.21

0.21 (0.81%)

, DRI

Darden

$93.27

-1.34 (-1.42%)

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$26.21

0.21 (0.81%)

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CMC

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$23.67

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PDCO

Patterson Companies

$22.54

0.07 (0.31%)

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IIIV

i3 Verticals

$0.00

(0.00%)

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  • 21

    Jun

KZR

Kezar Life Sciences

$0.00

(0.00%)

20:23
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Kezar Life Sciences 5M share IPO priced at $15.00 »

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  • 21

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LPL

LG Display

$8.91

-0.015 (-0.17%)

20:08
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LG Display discussing early retirement options for workers, Bloomberg reports »

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EGO

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SPX

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CEO

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TM

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$134.34

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FB

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RYAAY

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BNED

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DIS

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SPY

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GOOG

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