Market Overview

Mylan 'Took The Sting' Out Of The EpiPen Controversy

Share:
Mylan 'Took The Sting' Out Of The EpiPen Controversy

Mylan NV (NASDAQ: MYL) has received overwhelming criticism, even inciting mention from Hillary Clinton, for increasing the price of its life-saving EpiPen product 400 percent while raising the Mylan CEO’s salary by 600 percent.

Company shares have begun to rebound Thursday, however, due to the CEO’s interview with CNBC this morning, positive analyst commentary and a recently announced coupon with savings potential of up to $300.

Barclays' Take

“We believe MYL’s actions today should help defuse the growing controversy around EpiPen pricing,” said Barclays' Douglas Tsao.

Related Link: Mylan Cuts EpiPen Costs By 50%

The analyst believes there will be little net impact to the stock's numbers due to pricing actions and patient assistance programs. Tsao expects Mylan will only realize “a portion of recent price increases as MYL expands patient assistance and educational efforts on top of existing and added managed care rebates”

Agreeing with Mylan CEO Heather Bresch Tsao saw Mylan’s price hike showcasing the problems with the healthcare sector. “For that reason, we think the industry-wide debate on drug pricing will continue and should not be dismissed,” said the analyst.

Clinton Foundation's Ties To Mylan

“Interestingly, we note on the same day that Hillary Clinton criticized MYL for its price increase on the Epipen, Clinton also highlighted the impact of the Clinton Foundation’s work to distribute affordable antiretrovirals for HIV/AIDS patients globally, which has been facilitated by Mylan’s efforts,” added Tsao.

At time of writing, Mylan NV traded at $43.55, up 0.93 percent on the day.

Full ratings data available on Benzinga Pro.

Do you have ideas for articles/interviews you'd like to see more of on Benzinga? Please email feedback@benzinga.com with your best article ideas. One person will be randomly selected to win a $20 Amazon gift card!

Latest Ratings for MYL

DateFirmActionFromTo
Sep 2019MaintainsBuy
Jul 2019ReiteratesOverweight
Jun 2019Initiates Coverage OnOverweight

View More Analyst Ratings for MYL
View the Latest Analyst Ratings

Posted-In: Analyst Color Biotech News Health Care Politics Analyst Ratings Movers Media Best of Benzinga

 

Related Articles (MYL)

View Comments and Join the Discussion!

Latest Ratings

StockFirmActionPT
IINDoughertyAssumes34.0
PNRJefferiesInitiates Coverage On
YYUBSUpgrades
ROKUOppenheimerMaintains155.0
IPHIBank of AmericaMaintains80.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com

You Can Now Buy On Margin On DriveWealth's Platform

Technical Alert: Guess? Inc. Rally Pauses At Late April HIghs