Despite EpiPen and Generic Market Challenges, Mylan Posts Decent Third Quarter
Mylan reported third-quarter results mostly in line with our expectations, and we’re leaving our fair value estimate unchanged. While increased competition in pockets of the generic drug market and criticism of EpiPen price hikes remains near-term challenges for Mylan, we think limited future competition on EpiPen and benefits of the firm’s large diversified generics business help preserve the firms narrow economic moat. Mylan’s recent settlement announcement with the U.S. Department of Justice ...
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