We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Mylan Suffers Several Setbacks: What's in Store in 2H18?
Read MoreHide Full Article
Shares of Mylan N.V. have declined 7.5% in the year so far against the industry’s growth of 6.4%.
Mylan is a global pharmaceutical company with a well-established generics business. It also has a presence in the biosimilars market.
After sailing through troubled waters in 2017, things were turning for this beleaguered generic company. However, the company suffered yet another blow.
Mylan recently suffered a major setback as rival Teva Pharmaceutical Industries Ltd. (TEVA - Free Report) won the FDA approval for the first generic version of the former’s EpiPen and EpiPen Jr (epinephrine) auto-injector for the emergency treatment of allergic reactions including those that are life-threatening (anaphylaxis), in adults and pediatric patients. The approval of a generic will negatively impact EpiPen sales of Mylan as the generic will obviously be priced lower. Mylan was earlier under the scanner for high price of the product. We note that the company already has its own authorized generic for the same.
Earlier, Mylan stated that it is evaluating strategic alternatives as the generic business in North America continues to experience pricing and competitive pressure. Concurrent with its second-quarter results, the company also lowered its outlook as a result of the change in expected complex product launch, utilization assumptions, resizing of product opportunities in the United States, and the negative impact on operations of the restructuring and remediation program in Morgantown.
The company earlier suffered a setback, when the FDA refused to approve its Abbreviated New Drug Application for the generic version of GlaxoSmithKline’s (GSK - Free Report) asthma drug, Advair Diskus.
Earlier, Mylan and partner Momenta Pharmaceuticals reported disappointing results from a phase I study on the biosimilar version of Orencia. The study failed to meet primary endpoints. Any additional failures will be detrimental to the company’s growth prospects.
Mylan’s manufacturing partner, Pfizer (PFE - Free Report) earlier experienced interruptions in the production of EpiPen, and hence the latter’s supplies to Mylan are inconsistent and inadequate in meeting global demand including the United States.
While the biosimilar business continues to gain traction buoyed by new approvals, it might not be enough to combat the persistent decline in North America.
Zacks Rank
Mylan currently carries a Zacks Rank #5 (Strong Sell).
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
Image: Bigstock
Mylan Suffers Several Setbacks: What's in Store in 2H18?
Shares of Mylan N.V. have declined 7.5% in the year so far against the industry’s growth of 6.4%.
Mylan is a global pharmaceutical company with a well-established generics business. It also has a presence in the biosimilars market.
After sailing through troubled waters in 2017, things were turning for this beleaguered generic company. However, the company suffered yet another blow.
Mylan recently suffered a major setback as rival Teva Pharmaceutical Industries Ltd. (TEVA - Free Report) won the FDA approval for the first generic version of the former’s EpiPen and EpiPen Jr (epinephrine) auto-injector for the emergency treatment of allergic reactions including those that are life-threatening (anaphylaxis), in adults and pediatric patients. The approval of a generic will negatively impact EpiPen sales of Mylan as the generic will obviously be priced lower. Mylan was earlier under the scanner for high price of the product. We note that the company already has its own authorized generic for the same.
Earlier, Mylan stated that it is evaluating strategic alternatives as the generic business in North America continues to experience pricing and competitive pressure. Concurrent with its second-quarter results, the company also lowered its outlook as a result of the change in expected complex product launch, utilization assumptions, resizing of product opportunities in the United States, and the negative impact on operations of the restructuring and remediation program in Morgantown.
The company earlier suffered a setback, when the FDA refused to approve its Abbreviated New Drug Application for the generic version of GlaxoSmithKline’s (GSK - Free Report) asthma drug, Advair Diskus.
Earlier, Mylan and partner Momenta Pharmaceuticals reported disappointing results from a phase I study on the biosimilar version of Orencia. The study failed to meet primary endpoints. Any additional failures will be detrimental to the company’s growth prospects.
Mylan’s manufacturing partner, Pfizer (PFE - Free Report) earlier experienced interruptions in the production of EpiPen, and hence the latter’s supplies to Mylan are inconsistent and inadequate in meeting global demand including the United States.
While the biosimilar business continues to gain traction buoyed by new approvals, it might not be enough to combat the persistent decline in North America.
Zacks Rank
Mylan currently carries a Zacks Rank #5 (Strong Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
It's not the one you think.
See This Ticker Free >>