17.36 +0.10 (0.58%)
After hours: 7:37PM EST
|Bid||17.34 x 4000|
|Ask||17.36 x 4000|
|Day's Range||16.87 - 17.33|
|52 Week Range||16.63 - 35.45|
|Beta (3Y Monthly)||1.76|
|PE Ratio (TTM)||191.78|
|Earnings Date||Nov. 5, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||25.81|
(Bloomberg) -- Biogen Inc. shed more than $3 billion in market value in the past two trading sessions as a patent review of its top drug Tecfidera Wednesday raised concerns over a potential generic threat from Mylan NV.Shares fell as much as 3.7% on Thursday, the most in two months, extending losses for a third day. Analysts held different views on the trial, with Evercore ISI Umer Raffat saying the hearing went better-than-expected for Biogen, while RBC analyst Brian Abrahams said Mylan seemed to make “a slightly stronger case.”“In totality, the arguments and judges’ reactions seemed to favor MYL incrementally,” he wrote to clients, assigning a 60% probability of success for the company.On Wednesday, the U.S. Patent and Trial Appeal Board heard arguments under a process called inter partes review on Mylan’s challenge of Biogen patent 8,399,514. The generic drugmaker contends that the active ingredient in Tecfidera, dimethyl fumarate, had been known for years and the dosage form was predictable.The stakes are high for Cambridge, Massachusetts-based Biogen. The multiple sclerosis drug is its top-selling medicine, generating $1.1 billion in sales just last quarter. The patent is critical in extending the medicine’s exclusivity into the next decade as it’s set to expire in 2028. All the other Tecfidera patents listed on the FDA’s registry of information expire by June 2020.\--With assistance from Susan Decker.To contact the reporter on this story: Tatiana Darie in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Catherine Larkin at email@example.com, Debarati RoyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Likelihood of a soon-to-be-signed U.S.-China trade deal, upbeat holiday season sales expectations and decent earnings have led the Nasdaq-100 ETF to a new high.
Mylan N.V. (MYL) and Pfizer Inc. (PFE) today announced that the name of the new company to be formed by the planned combination of Mylan and Upjohn, a division of Pfizer, will be Viatris (pronounced ‘viǝ-trīs). Deriving its name from Latin, Viatris embodies the new company’s goal of providing a path—“VIA”—to three—“TRIS”—core goals: expanding access to medicines, leading by innovating to meet patient needs, and being a trusted partner for the healthcare community worldwide. “The name Viatris communicates the strength of our companies’ combined heritage and our shared goal to provide the highest-quality medicines to the most patients possible,” said Michael Goettler, Group President, Upjohn, who will serve as Chief Executive Officer of Viatris, as previously announced.
Teva Pharmaceutical (TEVA) misses earnings estimate but beats the same for sales. The company increases the lower end of its 2019 sales and earnings guidance. Shares rise.
NEW YORK, Nov. 07, 2019 -- Levi & Korsinsky notifies investors that it has commenced an investigation of Mylan N.V. (“Mylan” or “the Company”) (NASDAQ: MYL) concerning.
Theravance's (TBPH) third-quarter loss matches estimates while revenues miss the same in absence of product sales due to the sale of its only marketed drug Vibativ to Cumberland Pharmaceuticals.
Acorda (ACOR) posts narrower-than-expected loss with revenues also topping estimates in the third quarter. Inbrija is also off to a promising start with sales rising sequentially.
Wall Street was set to open higher for the fifth straight session on Tuesday, a day after all three major U.S. stock indexes closed at record highs on rising hopes of a trade truce between Washington and Beijing. China is pushing President Donald Trump to remove more tariffs as part of the "phase one" deal, which may be signed this month, according to the latest reports. Trade-sensitive chipmakers, including Advanced Micro Devices Inc and Nvidia Corp, rose between 0.5% and 1.3% in premarket trading.
Mylan (MYL) delivered earnings and revenue surprises of 2.63% and -2.39%, respectively, for the quarter ended September 2019. Do the numbers hold clues to what lies ahead for the stock?
Mylan, which posted higher-than-expected third-quarter profit with the help of cost constraints, said it would reassess products it sells outside United States and had nearly completed its review of U.S. products. The review process should not affect net profit, President Rajiv Malik said on a conference call with analysts. Mylan in July agreed to merge with Pfizer Inc's Upjohn unit that sells off-patent branded drugs.
Glaxo (GSK) beats on earnings and sales in the third quarter. Strong growth of vaccine and respiratory portfolio boosts sales. However, Advair generic severely impacts the drug's U.S. sales.
Investors will look forward to regular top and bottom-line numbers, when Mylan (MYL) reports Q3 results along with updates on merger with Upjohn.
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.
Pfizer (PFE) beats estimates for third-quarter earnings and sales and raises earnings guidance range for 2019 while tightening revenue outlook.
Glatiramer acetate, the active material of Copaxone®, or its generic forms, is the most common treatment for RMS in the US. GA Depot is a long-acting depot formulation injection of glatiramer acetate administered once every four weeks, compared with the daily or thrice weekly regimen used with Copaxone® or its generic forms.
During Acorda's (ACOR) third-quarter earnings call, investor focus will be on the sales uptick of its newly launched Parkinson's disease drug Inbrija.
While Pfizer's (PFE) key drugs like Ibrance, biosimilars and strong emerging market sales are likely to have driven Q3 sales, genericization of some older drugs are likely to have hurt the same.
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.
Theravance's (TBPH) newly-launched COPD drug Yupelri is witnessing a solid adoption while its pipeline programs are also progressing well. However, excessive reliance on Yupelri for revenues is a woe.