Backdating stock options mylan labs
Not only was the deal immediately accretive to Mylan’s earnings at the time, but it was expected that it would roughly double Mylan’s revenues in Europe overnight.
As for Abbott, the July 2014 deal was simply a calculated financial decision.
Risinger raised his rating to overweight, after being at equal weight since starting coverage three years ago, and raised the stock price target to from .
"Beyond its strong pipeline of new products, Mylan has opportunities to gain share relative to generic competitors which are facing challenges," Risinger wrote in a note to clients. 1 market player Teva Pharmaceutical Industries Ltd.
The advocacy group FARE said it wrote to FDA Commissioner Scott Gottlieb on May 1 about its concerns, and said on Monday that it was calling on the FDA to declare the issue a national shortage.
Pfizer , which manufactures the Mylan product through one of its business units, said that it is currently shipping products but supplies may vary from pharmacy to pharmacy. "We understand how important this potentially life-saving product is to patients, and we are working closely with Mylan to monitor supply levels so patients have access to epinephrine auto injector products," Pfizer spokesperson Steve Danehy said. Analyst Ami Fadia raised her rating to outperform from market perform, while keeping the stock price target at . (June 27), Gx Restasis (July 31), biosimilar Humira in EU (2H18), Revefenacin in the US (Nov. Mylan shares have tumbled 13.0% over the past three months, while the SPDR S&P Pharmaceuticals ETF has dropped 8.4% and the S&P 500 has slipped 4.4%. Mylan is acquiring GA Depot, a long-acting Glatiramer Acetate product that is used to treat patients with relapsing-remitting MS, which accounts for about 85% of initial MS diagnoses. Mapi Pharma has completed a phase II trial of GA Depot.Individuals with food allergies have found it difficult to fill their prescriptions in as many as 14 states as of late April, the group said.The American Society of Health-System Pharmacists, a professional organization for pharmacists, also said that there was a shortage of Mylan's Epi Pen , with the Epi Pen, Epi Pen Jr.The deal made a lot of sense for Mylan and was mostly done for tax purposes: Buying that part of Abbott’s portfolio allowed MYL to reorganize in the Netherlands, knocking down its effective tax rate to 21% from 25%.
Longer-term, that rate should tick down to the high-teens.
Mylan also affirmed its 2018 revenue guidance of .75 billion to .25 billion and its 2018 adjusted EPS guidance of .20 to .60.