BTIG Affirms Mylan (MYL) at 'Buy'; Generic EpiPen Highlights Challenges to U.S. Healthcare System
- Netflix, Inc. (NFLX) Tops Q4 EPS by 1c; Subs Beat Views
- S&P 500 ends up slightly with boost from financials; Netflix up late
- Nestle Said Examining Takeover of Mead Johnson (MJN) - Source
- La Quinta Holdings (LQ) Gains on Plan to Split in Two
- After-Hours Stock Movers 01/18: (OCLR) (CSX) (NFLX) Higher; (AMDA) (RCII) (ZYNE) Lower (more...)
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
BTIG affirms Mylan (Nasdaq: MYL) with a Buy rating and $60 price target as the company moves to release a generic EpiPen.
Analyst Timothy Chiang commented today,
While Mylan has dealt with much criticism from the media and politicians, we believe the measures the company has announced should lower out-of-pocket costs for patients who are seeking an Epipen prescription.
Politicians will probably seek more answers here and, in our opinion, end up realizing that it is our own health care system that is partially to blame for the rise in the price of EpiPen. In sum, while we think there could be more focus put on getting the FDA to ¡¥fast track¡¦ the review of alternative branded and generic versions of Epipen, we are maintaining our assumption that more competition from generic manufacturers will gain approval and enter the US market in 2H17.
The pricing dynamics within this market were created by a number of factors, some of which can be blamed on the US health care system, which remains focused on convenience, quality, and safety. Our recent discussions with several allergy physicians highlight the challenges to the medical community in prescribing alternatives to EpiPen.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- BTIG Raises Price Target on CardConnect Corp. (CCN) to $17; Reiterates Buy
- Jefferies Raises Price Target on Symantec (SYMC) to $27; Reiterates Hold
- UBS Cuts Price Target on Qualcomm (QCOM) Following FTC Complaint
Create E-mail Alert Related CategoriesAnalyst Comments
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!