CHICAGO, May 22, 2012 /PRNewswire/ -- Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include Mylan, Inc. (Nasdaq:MYL), Bristol-Myers Squibb Co. (NYSE:BMY), Sanofi (NYSE:SNY), Teva Pharmaceuticals (Nasdaq:TEVA) and Dr. Reddy's Laboratories (NYSE:RDY).
(Logo: http://photos.prnewswire.com/prnh/20101027/ZIRLOGO)
Get the most recent insight from Zacks Equity Research with the free Profit from the Pros newsletter: http://at.zacks.com/?id=5513
Here are highlights from Monday's Analyst Blog:
Generic Launches Continue for Mylan
Mylan Pharmaceuticals Inc., a subsidiary of generic player, Mylan Inc. (Nasdaq:MYL), recently announced that it has received final approval from the U.S. Food & Drug Administration (FDA) to launch generic versions of Plavix (clopidogrel), 75 mg and 300 mg. Mylan was the first company to have filed an abbreviated new drug application (ANDA) to market a generic version of Plavix, 300 mg. The early bird will thus enjoy a 180-day period of exclusivity.
Plavix, sold by Bristol-Myers Squibb Co. (NYSE:BMY) and Sanofi (NYSE:SNY), is approved for patients who have had a heart attack or stroke recently, or suffer from a partial or total blockage of an artery (peripheral artery disease). According to IMS Health, Plavix generated U.S. revenues of approximately $6.7 billion for the 12 months ending March 31, 2012.
Apart from Mylan, Apotex Corporation, Aurobindo Pharma, Roxane Laboratories, Sun Pharma, Teva Pharmaceuticals (Nasdaq:TEVA) and Torrent Pharmaceuticals gained approval for the 75 mg dosage of clopidogrel. Meanwhile, Dr. Reddy's Laboratories (NYSE:RDY), Gate Pharmaceuticals and Teva have received FDA approval for the 300 mg dosage of clopidogrel. Dr. Reddy's was also among the first companies to file an ANDA for generic Plavix 300 mg and has 180 days of marketing exclusivity for the formulation.
As of May 17, 2012, the company had 173 ANDAs pending clearance by the FDA, targeting $98.2 billion in branded sales. Mylan believes that about 39 of these ANDAs are first-to-file opportunities, representing approximately $25.5 billion in branded sales. The revenue figures are as per IMS health for the 12 months ending December 31, 2011.
Our Recommendation
We are encouraged by Mylan's geographic reach and product depth along with a robust generic product pipeline. However, we are concerned about the company's lackluster performance in Europe, the Middle East and Africa (EMEA) region. Additionally, with most large branded drugs due to lose patent exclusivity within 2017-2018, we have little visibility on the growth prospects for generic companies like Mylan beyond that timeframe.
Thus, we prefer to remain on the sidelines and have a Neutral recommendation on Mylan. The stock carries a Zacks #3 Rank ("Hold" rating) in the short term.
Want more from Zacks Equity Research? Subscribe to the free Profit from the Pros newsletter: http://at.zacks.com/?id=5515.
About Zacks Equity Research
Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.
Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.
Zacks "Profit from the Pros" e-mail newsletter provides highlights of the latest analysis from Zacks Equity Research. Subscribe to this free newsletter today: http://at.zacks.com/?id=5517
About Zacks
Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978 by Leon Zacks. As a PhD from MIT Len knew he could find patterns in stock market data that would lead to superior investment results. Amongst his many accomplishments was the formation of his proprietary stock picking system; the Zacks Rank, which continues to outperform the market by nearly a 3 to 1 margin. The best way to unlock the profitable stock recommendations and market insights of Zacks Investment Research is through our free daily email newsletter; Profit from the Pros. In short, it's your steady flow of Profitable ideas GUARANTEED to be worth your time! Register for your free subscription to Profit from the Pros at http://at.zacks.com/?id=5518.
Visit http://www.zacks.com/performance for information about the performance numbers displayed in this press release.
Follow us on Twitter: http://twitter.com/zacksresearch
Join us on Facebook: http://www.facebook.com/home.php#/pages/Zacks-Investment-Research/57553657748?ref=ts
Disclaimer: Past performance does not guarantee future results. Investors should always research companies and securities before making any investments. Nothing herein should be construed as an offer or solicitation to buy or sell any security.
Media Contact
Zacks Investment Research
800-767-3771 ext. 9339
[email protected]
http://www.zacks.com
SOURCE Zacks Investment Research, Inc.
Share this article