Mylan (MYL): Increased Pricing Scrutiny Poses Sentiment Risk - Wells Fargo
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Wells Fargo analyst, David Maris, reiterated his Market Perform rating on shares of Mylan (NASDAQ: MYL) and noted that Mylan is facing further scrutiny by the press, consumers, and legislators regarding price increases on EpiPen. He believes that this issue has the potential to further pressure Mylan’s share price and "investors should be very sensitive to the investment sentiment risk".
Sen. Blumenthal (D-CT) criticized Mylan and called for the FTC and the Judiciary Antitrust Subcommittee to investigate. Senator Grassley, an Iowa Republican and Chairman of the Senate Committee on the Judiciary, sent a letter to Mylan’s CEO explaining that the “substantial price increase has caused significant concern among patients” and asked Mylan to respond to questions about EpiPen pricing. This follows Sen. Amy Klobuchar (D-MN), who over the weekend called on the FTC to investigate.
Shares of Mylan closed at $45.62 yesterday.
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