Market Overview

Mylan Higher Following Launch Of Concerta Tablets

Share:
Related MYL
Q4 13F Roundup: How Buffett, Einhorn, Loeb, And Others Adjusted Their Portfolio
Teva's Asthma Therapy Reslizumab Fails In Late-Stage Studies
Tracking John Paulson's Paulson & Company Portfolio - Q4 2017 Update (Seeking Alpha)

Mylan NV (NASDAQ: MYL) shares are trading higher by $0.80 (2 percent) at $38.18 in Friday's session. The catalyst for the rally is the launch of generic Concerta tablet.

BTIG's Timothy Chiang forecasts it to contribute $125-$150 million in sales within the first as the competition is limited.

After a higher open, it retreated only $0.14 to $37.84 before resuming its move higher. The ensuing rally has taken the issue to $38.60, but has now fallen back into the lower $38 handle. That high matches its November 16 high.

If the rally continues, there may additional resistance just above that at its November 15 high ($38.78).

Posted-In: Technicals Intraday Update Movers Trading Ideas

 

Related Articles (MYL)

View Comments and Join the Discussion!