Needham & Company Maintains a 'Strong Buy' on Mylan (MYL); U.S. Generic Dynamics Again Rule The Day As European Softness Persists

Needham & Company maintains a 'Strong Buy' on Mylan (NASDAQ: MYL) price target of $29.00.

Needham analyst says, "MYL’s core U.S. generic franchise powered strong 2Q11 financials, more than offsetting continued pockets of weakness in key European markets and less than spectacular results in other international generic markets. While 2Q11 received a significant booster shot from the pull forward launch of generic Entocort EC, MYL continues to enjoy sole true generic status on the product and heads into 2H11 and 2012 with strong new generic product launch cadence that should provide ample cushion against unexpected European soft spots."

For more ratings news on Mylan click here and for the rating history of Mylan click here.

Shares of Mylan closed at $22.90 yesterday.

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