Canaccord Genuity on Life Sciences/Specialty Pharmaceuticals Modafinil Decision Adds EPS Headwind to MYL, Benefit to TEVA
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Price: $15.86 --0%
Rating Summary:
17 Buy, 13 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
17 Buy, 13 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Canaccord Genuity on Life Sciences/Specialty Pharmaceuticals
Modafinil decision adds EPS headwind to MYL (HOLD), benefit to TEVA (BUY)
Analyst, Randall Stanicky, said, "Mylan (NYSE: MYL) shares continued recent underperformance Thursday as it was announced that the FDA granted Teva (Nasdaq: TEVA) 180-day exclusivity for the generic version of Provigil. MYL followed up with a lawsuit against FDA but at this point the anticipated April 6 launch date has passed and we believe reversal from here is less likely. The bottom line is that we believe this adds a near-term EPS headwind to MYL totalling about $0.05 between Q2 and Q3, and follows our Q1 estimate reduction last week. No change to our HOLD rating on MYL, where we continue to see stock upside limited near term. For TEVA, we see an incremental benefit of ~ $0.06 in the same time period and make no change to our BUY rating. While near-term EPS beats will not be the primary driver of upside for TEVA (focus is on the Copaxone trial decision anytime now), we do see added support. No change to EPS on either pending clarity around MYL’s lawsuit."
Modafinil decision adds EPS headwind to MYL (HOLD), benefit to TEVA (BUY)
Analyst, Randall Stanicky, said, "Mylan (NYSE: MYL) shares continued recent underperformance Thursday as it was announced that the FDA granted Teva (Nasdaq: TEVA) 180-day exclusivity for the generic version of Provigil. MYL followed up with a lawsuit against FDA but at this point the anticipated April 6 launch date has passed and we believe reversal from here is less likely. The bottom line is that we believe this adds a near-term EPS headwind to MYL totalling about $0.05 between Q2 and Q3, and follows our Q1 estimate reduction last week. No change to our HOLD rating on MYL, where we continue to see stock upside limited near term. For TEVA, we see an incremental benefit of ~ $0.06 in the same time period and make no change to our BUY rating. While near-term EPS beats will not be the primary driver of upside for TEVA (focus is on the Copaxone trial decision anytime now), we do see added support. No change to EPS on either pending clarity around MYL’s lawsuit."
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