Mylan Posts 1Q Within Expectations as Complex Product Milestones Approach
Although Mylan reported subdued performance in the first quarter, with sales down 1% and adjusted earnings per share up 3% from a year ago, we’re leaving our fair value estimate in place as the firm has a number of potential key product launches--including the recent launch of generic Copaxone and potential approval for generic Advair--over the remainder of the year that have the potential to improve performance. We continue to view Mylan as having no moat, given the highly competitive generic m...
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