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MYL

Mylan

$33.93

-0.69 (-1.99%)

16:12
11/20/18
11/20
16:12
11/20/18
16:12

Mylan announces voluntary recall of select lots of Valsartan-containing products

Mylan announced that its U.S. based Mylan Pharmaceuticals business is conducting a voluntary nationwide recall to the consumer level of select lots of Valsartan-containing products, including six lots of Amlodipine and Valsartan Tablets, USP (including the 5mg/160mg, 10mg/160mg, and 10mg/320mg strengths), seven lots of Valsartan Tablets, USP (including 40 mg, 80 mg, 160 mg, and 320 mg strengths), and two lots of Valsartan and Hydrochlorothiazide Tablets, USP 320mg/25mg strength. These products are being recalled due to detected trace amounts of an impurity, N-nitrosodiethylamine contained in the API Valsartan, USP, manufactured by Mylan Laboratories Limited. NDEA is a substance that occurs naturally in certain foods, drinking water, air pollution, and industrial processes, and has been classified as a probable human carcinogen according to the International Agency for Research on Cancer. The finished products are manufactured by Mylan Pharmaceuticals Inc. and Mylan Laboratories Limited. These batches were distributed in the U.S. between March 2017 and November 2018.

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MYL Mylan
$33.93

-0.69 (-1.99%)

11/06/18
WELS
11/06/18
UPGRADE
Target $40
WELS
Outperform
Wells upgrades Mylan to Outperform, sees more upside after today's rally
Wells Fargo analyst David Maris upgraded Mylan (MYL) to Outperform from Market Perform with an unchanged price target of $40. The stock in afternoon trading is up 18%, or $5.76, to $37.13. Mylan shares have underperformed the S&P 500 Index for the year-to-date, one year, two year, and five year periods and the shares trade at a discount to peer Teva (TEVA), Maris tells investors in a research note titled "Concerns Abound, but Valuation Attractive." The analyst, however, believes Mylan is positioned for near-term outperformance after the company maintained its 2018 earnings guidance. Maris previously saw risk to second half of 2018 estimates, but with today's Q3 results, he now believes the risk to the downside to Q4 estimates is lower than previously thought. Further, Mylan's statement that Q4 guidance can be achieved with or without new approvals "provides some upside to sentiment" if generic Advair or other approvals materialize, says the analyst. Maris thinks that even with today's rally, Mylan shares still have more than 10% additional upside potential to reach fair value.
11/15/18
ARGS
11/15/18
UPGRADE
ARGS
Buy
Mylan upgraded to Buy from Hold at Argus
11/15/18
ARGS
11/15/18
UPGRADE
Target $42
ARGS
Buy
Mylan upgraded to Buy from Hold at Argus
Argus analyst Jasper Hellweg upgraded Mylan to Buy with a price target of $42, saying the stock appears to be close to an inflection after several quarters of underperformance. The analyst points to the company's Q3 earnings beat and its gross margin expansion of 280bps. Hellweg further cites Mylan's launch of a "record number of new generic and biosimilar products this year, significantly diversifying its portfolio" whereby no single product now accounts for more than 3% of revenue. The analyst also keeps his FY18 EPS view at $4.73 and nudges his FY19 outlook higher by 2c to $5.28 while noting the company's forward earnings multiple of 6.8-times, which is near the low end of its 5.8- to 16.3-times historical average.
11/15/18
11/15/18
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. Mylan (MYL) upgraded to Buy from Hold at Argus with analyst Jasper Hellweg saying the stock appears to be close to an inflection after several quarters of underperformance. 2. CopyTele (COPY) upgraded to Outperform from Market Perform at BMO Capital. 3. Voyager Therapeutics (VYGR) upgraded to Strong Buy from Outperform at Raymond James. 4. Athenex (ATNX) upgraded to Overweight from Neutral at JPMorgan with analyst Leon Chik saying more clinical data and progress in new drug trials should boost investor sentiment in 2019. 5. Coty (COTY) upgraded to Outperform from Market Perform at BMO Capital with analyst Shannon Coyne saying that her downgrade in August was driven by concerns around the company's supply chain issues, but believes that these factors have now been fully priced in after the management withdrew its guidance and consensus earnings have been pulled back by about 30%. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

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