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Fly News Breaks for January 6, 2020
Jan 6, 2020 | 16:44 EDT
RBC Capital analyst Randall Stanicky said he thinks it is understandable that Mylan shares have been range-bound since announcing the Upjohn deal in the middle of last year given the perceived overhang and concern over a guidance cut when the company issues its updated outlook. He also notes the shareholder turnover on the mid-year closing of the deal, but said that both issues are well understood and soon to be addressed given that the deal closing is approaching He is raising his price target on the Mylan to $27 from $25 as he notes that "Newco's" U.S. generic revenue will be less than 15% proforma and that, along with its limited opioid exposure, could help the stock decouple from its generic peers.
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