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MYL

Mylan

$36.42

0.14 (0.39%)

, GSK

GlaxoSmithKline

$40.26

-0.94 (-2.28%)

15:32
07/25/18
07/25
15:32
07/25/18
15:32

Even minor delays can hurt Mylan's generic Advair opportunity, says Wells Fargo

After GlaxoSmithKline (GSK) reported U.S. Advair sales declined 43% at constant currency in Q2, Wells Fargo analyst David Maris commented on the read-through to the generic Advair opportunity being pursued by Mylan (MYL). Given the substantial declines branded Advair faces, he said that "even minor delays" can continue to hurt the potential generic opportunity, adding that he has not seen or been notified of any updates from Mylan on Advair since the company was notified in early June that the FDA planned to issue an official Complete Response Letter related to its application. Maris keeps a Market Perform rating on Mylan shares.

MYL

Mylan

$36.42

0.14 (0.39%)

GSK

GlaxoSmithKline

$40.26

-0.94 (-2.28%)

  • 25

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  • 13

    Nov

MYL Mylan
$36.42

0.14 (0.39%)

06/27/18
SBSH
06/27/18
NO CHANGE
SBSH
Buy
Mylan share price reaction following delay news 'overdone,' says Citi
Citi analyst Liav Abraham removed Mylan from his US Focus List, telling investors in a research note that he remains "constructive" on Mylan the recent FDA approval of Fulphila and slight delay to the approval of generic Advair, and says he views the recent share price reaction following the delay announcement as "overdone." He still expects to see potential approval in the latter part of 2018.
07/12/18
GSCO
07/12/18
DOWNGRADE
Target $74
GSCO
Sell
Perrigo downgraded to Sell from Neutral at Goldman Sachs
Goldman Sachs analyst Jami Rubin downgraded Perrigo (PRGO) to Sell and lowered her price target for the shares to $74 from $78. The analyst sees "no meaningful risk" to estimates but expects the "business to drift" due to a lack of meaningful new launches in the pipeline. The market may also attribute a lower multiple to Perrigo's consumer business as rates rise, which creates downside risk to the equity, Rubin tells investors in a research note. She sees more upside in other stocks, namely Mylan (MYL) and Teva (TEVA).
07/12/18
JEFF
07/12/18
NO CHANGE
Target $200
JEFF
Buy
Mlyan priced Amgen biosimilar at 33% discount, says Jefferies
Jefferies analyst Michael Yee says Mylan (MYL) priced its biosimilar to Amgen's Neulasta at a 33% discount to the gross price of branded Neulasta. While the discount is slightly more than initial expectations of 10%-20%, the key is knowing what level of rebating Mylan will be offering to hospitals, Yee tells investors in a research note. The analyst admits, however, that Mylan's Fulphila price "indeed undercuts" Amgen. He keeps a Buy rating on Amgen shares with a $200 price target.
07/18/18
WELS
07/18/18
NO CHANGE
WELS
Novartis report has negative read through for Teva, Mylan, says Wells Fargo
Wells Fargo analyst David Maris noted that Novartis (NVS) lowered its 2018 guidance for Sandoz along with its Q2 report and reportedly told Bloomberg that it would consider selling the generic drug unit. He sees a negative read through for companies with large U.S. commodity generic exposure, such as Teva (TEVA) and Mylan (MYL), from Novartis' report, Maris tells investors. He also noted that Novartis said it will not increase prices on its drugs in the U.S. for the rest of 2018, as Pfizer (PFE) recently has also said, calling this "a wise approach and correct read of the increasing intensity of the scrutiny around rising healthcare costs." Maris continues to expect the " chilling effect" on price increases to spread through the industry. Lastly, the analyst pointed out that the Amgen-partnered (AMGN) launch of Aimovig is off to a strong start, which he believes bodes well for Teva's fremanezumab and Eli Lilly's (LLY) galcanezumab.
GSK GlaxoSmithKline
$40.26

-0.94 (-2.28%)

05/16/18
SPHN
05/16/18
INITIATION
Target $16
SPHN
Overweight
Codexis initiated with an Overweight at Stephens
Stephens analyst Drew Jones started Codexis (CDXS) with an Overweight rating and $16 price target, stating that the company's CodeEvolver platform technology has been sought by pharma partners Merck (MRK), GlaxoSmithKline (GSK) and Nestle (NSRGY) and he expects continued deeper adoption from other major industry players.
06/13/18
MSCO
06/13/18
NO CHANGE
MSCO
HHS 'smoke signals' worth noting for drugmakers, says Morgan Stanley
After HHS Secretary Alex Azar spoke at a two-hour Senate hearing, Morgan Stanley analyst David Risinger noted that Azar suggested that U.S. drug pricing needs to move to a system without rebates and said payments from drugmakers to PBMs should be eliminated. In listing four HHS actions that could hurt manufacturers, Risinger pointed out that Azar said he is interested in removing 100% cap on Medicaid rebates; he would like to adjust the Part D protected drug classes so that plans can extract rebates from manufacturers; HHS wants to require manufacturers to disclose drug list prices in TV ads; and HHS is focused on transitioning Part B to lower-priced private sector management. In summary, the analyst said that for drugmakers there was "no fire, but smoke signals worth noting." Publicly traded large-cap drugmakers include AstraZeneca (AZN), Bristol-Myers (BMY), Eli Lilly (LLY), GlaxoSmithKline (GSK), Johnson & Johnson (JNJ), Merck (MRK), Novartis (NVS), Pfizer (PFE), Roche (RHHBY) and Sanofi (SNY).
06/28/18
WELS
06/28/18
NO CHANGE
WELS
Wells says Amazon deal, Walgreens results have negative read for drug pricing
After Amazon (AMZN) agreed to acquire online pharmacy PillPack, reportedly for $1B, Wells Fargo analyst David Maris noted that he has long stated that Amazon would enter the pharmacy business and warned about the risk to drug pricing in such a scenario. Maris also noted that Walgreens (WBA) reported its U.S. retail pharmacy comparable store sales fell 1.2% in Q3, adding that retailers tend to push drugmakers on price when they feel pressure and the read-through from its report may be negative for drug pricing. Publicly traded large-cap drugmakers include AstraZeneca (AZN), Bristol-Myers (BMY), Eli Lilly (LLY), GlaxoSmithKline (GSK), Johnson & Johnson (JNJ), Merck (MRK), Novartis (NVS), Pfizer (PFE), Roche (RHHBY) and Sanofi (SNY).
07/11/18
WELS
07/11/18
NO CHANGE
WELS
Drug stocks may not react favorably to Pfizer price rollback, Trump tweets, says Wells Fargo
Wells Fargo analyst David Maris notes that there was widespread media coverage of drug price increases taken recently by several large cap drug companies, with President Trump criticizing Pfizer (PFE) for taking these price increases. On Tuesday, Pfizer confirmed it was rolling back its July drug price increases following a conversation with President Trump, he adds. Maris believes that drug stocks will not react favorably to this news, given the chilling effect this will likely have on others looking to take price increases. Nonetheless, the analyst points out that the price increases taken in July are only a small number of increases taken over the past year or several years, so the impact of the rollback to the healthcare system is insignificant in the big picture. Other publicly traded companies in the space include AstraZeneca (AZN), Bristol-Myers (BMY), Eli Lilly (LLY), GlaxoSmithKline (GSK), Johnson & Johnson (JNJ), Merck (MRK), Novartis (NVS), Roche (RHHBY) and Sanofi (SNY).

TODAY'S FREE FLY STORIES

KO

Coca-Cola

$51.25

-0.15 (-0.29%)

07:00
07/23/19
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Earnings
Coca-Cola sees FY19 5% growth in organic revenues »

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HOG

Harley-Davidson

$34.25

-0.62 (-1.78%)

07:00
07/23/19
07/23
07:00
07/23/19
07:00
Hot Stocks
Harley-Davidson cuts FY19 shipment view to 212,000-217,000 from 217,000-222,000 »

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UTX

United Technologies

$132.94

0.57 (0.43%)

06:59
07/23/19
07/23
06:59
07/23/19
06:59
Earnings
United Technologies reports Q2 adj. EPS $2.20, consensus $2.05 »

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DRI

Darden

$125.43

1.03 (0.83%)

06:59
07/23/19
07/23
06:59
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06:59
Initiation
Darden initiated  »

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CDOR

Condor Hospitality Trust

$10.97

2.7 (32.65%)

06:58
07/23/19
07/23
06:58
07/23/19
06:58
Downgrade
Condor Hospitality Trust rating change  »

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CTG

Computer Task Group

$4.08

0.025 (0.62%)

06:58
07/23/19
07/23
06:58
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06:58
Earnings
Computer Task Group sees FY19 non-GAAP EPS 32c-38c, consensus 33c »

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CADE

Cadence Bancorp

$15.86

-3.75 (-19.12%)

06:58
07/23/19
07/23
06:58
07/23/19
06:58
Recommendations
Cadence Bancorp analyst commentary  »

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TRV

Travelers

$149.95

-0.22 (-0.15%)

06:58
07/23/19
07/23
06:58
07/23/19
06:58
Hot Stocks
Travelers reports Q2 book value per share $97.26 »

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CTSH

Cognizant

$65.54

0.42 (0.64%)

06:58
07/23/19
07/23
06:58
07/23/19
06:58
Downgrade
Cognizant rating change  »

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TRV

Travelers

$149.95

-0.22 (-0.15%)

06:57
07/23/19
07/23
06:57
07/23/19
06:57
Earnings
Travelers reports Q2 core EPS $2.02, consensus $2.29 »

Reports Q2 revenue…

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HOG

Harley-Davidson

$34.25

-0.62 (-1.78%)

06:57
07/23/19
07/23
06:57
07/23/19
06:57
Earnings
Harley-Davidson reports Q2 ex-items EPS $1.46, consensus $1.20 »

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KO

Coca-Cola

$51.25

-0.15 (-0.29%)

06:56
07/23/19
07/23
06:56
07/23/19
06:56
Earnings
Coca-Cola provides Q3 outlook »

Comparable net revenues…

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CTG

Computer Task Group

$4.08

0.025 (0.62%)

06:56
07/23/19
07/23
06:56
07/23/19
06:56
Earnings
Computer Task Group reports Q2 non-GAAP EPS 9c, consensus 7c »

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KO

Coca-Cola

$51.25

-0.15 (-0.29%)

06:55
07/23/19
07/23
06:55
07/23/19
06:55
Earnings
Coca-Cola reports Q2 comparable cont ops EPS 63c, consensus 61c »

Reports Q2 revenue $10B,…

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ZION

Zions Bancorp

$45.16

-0.95 (-2.06%)

06:54
07/23/19
07/23
06:54
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06:54
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Zions Bancorp analyst commentary  »

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TRU

TransUnion

$74.91

-0.14 (-0.19%)

06:54
07/23/19
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06:54
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06:54
Hot Stocks
TransUnion says TransUnion Limited victim of criminal fraud »

"On July 12, 2019,…

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LKSD

LSC Communications

$3.48

0.015 (0.43%)

06:54
07/23/19
07/23
06:54
07/23/19
06:54
Earnings
LSC Communications sees Q2 revenue $ $865M-$875M, consensus $881.33M »

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AN

AutoNation

$42.01

-0.045 (-0.11%)

06:53
07/23/19
07/23
06:53
07/23/19
06:53
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AutoNation analyst commentary  »

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TRU

TransUnion

$74.91

-0.14 (-0.19%)

06:53
07/23/19
07/23
06:53
07/23/19
06:53
Earnings
TransUnion sees Q3 adjusted EPS 69c-71c, consensus 69c »

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MTG

MGIC Investment

$13.16

-0.12 (-0.90%)

06:52
07/23/19
07/23
06:52
07/23/19
06:52
Earnings
MGIC Investment reports Q2 EPS 46c, consensus 42c »

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  • 23

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TRU

TransUnion

$74.91

-0.14 (-0.19%)

06:52
07/23/19
07/23
06:52
07/23/19
06:52
Earnings
TransUnion raises FY19 adjusted EPS view to $2.66-$2.69 from $2.60-$2.65 »

FY19 consensus $2.65. The…

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  • 23

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DGX

Quest Diagnostics

$98.07

-1.175 (-1.18%)

06:51
07/23/19
07/23
06:51
07/23/19
06:51
Earnings
Quest Diagnostics backs FY19 adj. EPS view of greater than $6.40 »

Consensus $6.46. Backs…

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HCAT

Health Catalyst

$0.00

(0.00%)

06:51
07/23/19
07/23
06:51
07/23/19
06:51
Syndicate
Health Catalyst raises IPO price range to $24.00-$25.00, increases shares »

The Health Catalyst IPO…

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TRU

TransUnion

$74.91

-0.14 (-0.19%)

06:50
07/23/19
07/23
06:50
07/23/19
06:50
Earnings
TransUnion reports Q2 adjusted EPS 69c, consensus 65c »

Reports Q2 revenue $662M,…

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  • 23

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DGX

Quest Diagnostics

$98.07

-1.175 (-1.18%)

06:49
07/23/19
07/23
06:49
07/23/19
06:49
Earnings
Quest Diagnostics reports Q2 adj. EPS $1.73, consensus $1.68 »

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