|Day's range||7.12 - 7.12|
Mylan (MYL) delivered earnings and revenue surprises of 8.53% and -0.62%, respectively, for the quarter ended December 2019. Do the numbers hold clues to what lies ahead for the stock?
The outbreak has so far mainly battered China, causing nearly 80,000 infections and more than 2,700 deaths, according to World Health Organization figures. Mylan said it was facing logistical issues, but had not seen problems with production or experienced price increases in active drug ingredients. Although heavily reliant on China, the company said it was better positioned against the impact of the outbreak compared to its peers due to its diversified supply chain.
Investing.com - Mylan (NASDAQ:MYL) reported on Thursday fourth quarter earnings that beat analysts' forecasts and revenue that fell short of expectations.
Mylan N.V. (NASDAQ: MYL) and Pfizer (NYSE: PFE) today announced that Sanjeev Narula, current chief financial officer (CFO) of Upjohn, a division of Pfizer, has been named incoming CFO of Viatris, the new company that will result from the planned combination of Mylan and Upjohn. Upon closing, which is expected in mid-2020, Viatris will be a new champion for global health with a portfolio of approximately 3,000 brands and molecules and a commercial presence in 165 countries.
Mylan N.V. (NASDAQ: MYL) and Pfizer Inc. (NYSE: PFE) today announced the remaining appointees to the inaugural 13-member Board of Directors for Viatris, the new company that will result from the combination of Mylan and Upjohn, a division of Pfizer, which is expected to occur in mid-2020, subject to receipt of regulatory approvals, Mylan shareholder approval, and the satisfaction of other customary closing conditions. In addition to the previously announced Pfizer-designated appointments of Ian Read and Jim Kilts, Pfizer has appointed current Pfizer board member W. Don Cornwell, who will resign from the Pfizer board to serve as a director of Viatris upon the close of the transaction. Additionally, Mylan has appointed eight of its own directors to serve on the Viatris Board of Directors, including JoEllen Lyons Dillon, Neil Dimick, Melina Higgins, Harry A. Korman, Rajiv Malik, Richard A. Mark, Mark W. Parrish and Pauline van der Meer Mohr. As previously announced, the Board of Directors of Viatris will also include Viatris Executive Chairman Robert J. Coury and Viatris CEO Michael Goettler.
The Zacks Analyst Blog Highlights: Johnson & Johnson, Bayer Aktiengesellschaft, Pfizer, Mylan N.V. and Teva Pharmaceutical Industries
The global reliance on China for APIs and drug manufacturing might hit supply chains and production amid the Coronavirus outbreak. Thus, companies independent of China's input are up for grabs now.
Mylan (MYL) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
The U.S. Patent and Trademark Office imparts a ruling in favor of Biogen (BIIB) over generic drugmaker Mylan to protect the patent of its best-selling multiple sclerosis drug, Tecfidera.
Theravance's (TBPH) COPD drug Yupelri witnesses a strong adoption while its pipeline programs make a steady progress. However, high reliance on Yupelri for revenues is a concern.
(Bloomberg) -- Biogen Inc. investors should strap themselves in for a volatile week ahead of a key patent decision on its blockbuster multiple sclerosis drug.A decision from the U.S. Patent Trial and Appeal Board, expected by February 6, could move shares up or down by 8%, options expiring February 7 show. Implied volatility is elevated near 70%, which compares to a three-month historical average of 46%.Competitor Mylan NV is challenging a patent on the drug, Tecfidera, that could wipe out eight years of exclusivity for Biogen and bring a copycat drug to patients sooner than hoped. SunTrust analyst Robyn Karnauskas said a negative outcome for Biogen could slash the biotech’s discounted cash flow model by $40 per share, though specifics on Mylan’s commercial efforts are key to assessing the damage.The drug brought in $1.16 billion in sales for the final three months of 2019, with full-year revenue from the drug reaching $4.4 billion, roughly 30% of the company’s revenue. While bears have pointed out that a negative decision could impact sales in the near-term, William Blair analysts highlighted in a note to clients that any decision will likely be appealed, delaying a final ruling.Chief Financial Officer Jeff Capello told analysts Jan. 30 that the company would appeal any loss in either the patent office or district court cases, which would take 12 to 18 months. Capello said it is “difficult to predict” whether the generic-drug makers would launch without waiting for the appeals court decision.Decisions around Tecfidera patents “could provide near-term volatility and are extremely difficult to predict,” BMO Capital Markets analyst George Farmer wrote to clients. “Transitioning Tecfidera patients and initiating new patients to Vumerity, a more tolerable fumarate, would lessen the impact of a negative IPR decision, but the launch is too early to gauge demand.”Jefferies’ Michael Yee sees a bit more on the line for the decision, projecting a 10% move to either side for Biogen stock. He pointed out in a January 30 note that bears see Biogen as uninvestable ahead of the decision with bulls saying the ruling will remove an overhang on the stock.Among Biogen’s biggest fans on Wall Street, SVB Leerink, reiterated its outperform rating Monday morning writing that the current “valuation already reflects a worst case scenario for the Tecfidera loss of exclusivity.”The decision will pave the way for investors to bet on whether or not U.S. regulators will approve the company’s controversial Alzheimer’s drug candidate. Matt Phipps, an analyst at William Blair, highlighted that the patent ruling and the next steps for aducanumab are among the primary focuses for investors. Biogen is on pace to deliver a filing for the Alzheimer’s candidate sometime in the next two months.\--With assistance from Gregory Calderone, Susan Decker and Christopher Yasiejko.To contact the reporter on this story: Bailey Lipschultz in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Catherine Larkin at email@example.com, Steven Fromm, Cristin FlanaganFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Pfizer (PFE) misses estimates for fourth-quarter earnings and sales. Loss of patent protection for key drug Lyrica in 2019 hurts sales significantly.
Mylan (MYL) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
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