Research Desk Line-up: Allergan Post Earnings Coverage

LONDON, UK / ACCESSWIRE / June 5, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for pharmaceutical major Mylan N.V. (NASDAQ: MYL). The Company announced on June 02, 2017, the launch of two generic drugs; Zoledronic Acid Injection, which is the generic version of Novartis' Reclast® Injection, and Rasagiline Tablets, which are the generic version of Teva's Azilect® Tablets. For immediate access to our complimentary reports, including today's coverage, register for free now at:

http://protraderdaily.com/register/

Discover more of our free reports coverage from other companies within the Drugs - Generic industry. Pro-TD has currently selected Allergan PLC (NYSE: AGN) for due-diligence and potential coverage as the Company reported on May 09, 2017, its continuing operations performance for Q1 2017. Tune in to our site to register for a free membership, and be among the early birds that get our report on Allergan when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on MYL; also brushing on AGN. Go directly to your stock of interest and access today's free coverage at:

http://protraderdaily.com/optin/?symbol=MYL

http://protraderdaily.com/optin/?symbol=AGN

Details of Zoledronic Acid Injection

Mylan launched the Zoledronic Acid Injection in a single dose vial of 5 mg/100 ml. The launch was announced after Mylan received the final approval for the Zoledronic Acid Injection from the US Food and Drug Administration (FDA) following the Company's Abbreviated New Drug Application (ANDA) for this drug. The Zoledronic Acid Injection is to be used in the treatment of patients, both men and women, who are suffering from Paget's disease of bone.

According to the statistics available with QuintilesIMS Health, Zoledronic Acid Injection, 5 mg/100 mL Single Dose Vial, had US sales of approximately $22.1 million for the 12 months ending March 31, 2017

About Paget's Disease of Bone

Paget's Disease of Bone is the second most common type of bone disease, after osteoporosis. Bones undergo constant replacement as new tissue replaces the old as new bone is formed in a process called bone remodeling. Paget's disease is a bone remodeling disorder. In Paget's disease, new bone is placed where it is not needed, and old bone is removed where it is needed. This is called dysregulation, and it can distort the normal skeletal structure. Paget's disease can cause weak bones, bone pain, arthritis, deformities, and fractures. Paget's disease is not easily to diagnose as symptoms are either mild or not detectable and can be easily confused with those of arthritis or other disorders.

People living in the UK, Western Europe, and the US, is more likely to have Paget's disease, and it is mostly found in people over the age of 40 years. Men are more likely to be affected by this disease than women. The most common bones affected by Paget's disease are the pelvis, spine, skull, femur, or thigh bone, and tibia, or shin bone.

Details of Rasagiline Tablets

Mylan launched Rasagiline Tablets in 0.5 mg and 1 mg dosages and the drug is the generic version of Teva's Azilect® Tablets. Mylan launched the generic Rasagiline Tablets following the receipt of final approval from the US Food and Drug Administration (FDA) following the Company's Abbreviated New Drug Application (ANDA) for this drug. The drug is used in the treatment of patients with Parkinson's disease.

As per the statistics available with QuintilesIMS Health, Rasagiline Tablets, 0.5 mg and 1 mg, had US sales of approximately $343 million for the 12 months ending March 31, 2017.

About Parkinson's disease

Parkinson's disease (PD) is a long-term degenerative disorder of the central nervous system that affects movement, often including tremors. It is chronic and progressive in nature and symptoms continue and worsen over time. PD is caused due to the malfunction and death of vital nerve cells in the brain, called neurons. Parkinson's disease affects the nerve cells in the brain that produce dopamine. Parkinson's disease symptoms include muscle rigidity, tremors, and changes in speech and gait. After diagnosis, treatments can help relieve symptoms, but there is no cure. According to the Parkinson's Disease Foundation, Inc., nearly one million people in the US are living with Parkinson's disease.

Mylan continues to face political and public outcry

Recent media reports suggest that Mylan may have overcharged the federal government by over $1.25 billion over a 10-year period, by failing to correct the misclassification of its drug EpiPen under Medicaid. In October 2016, Mylan had agreed to a $465 million settlement with the US Department of Justice (DOJ) and other government agencies for the misclassification of its EpiPen® Auto-Injector under the Medicaid Drug Rebate Program. The Company however, had not agreed to any wrongdoing as part of the settlement agreement. Recent reports suggest that the settlement is on a very low side and the actual cost to the government may be quite high.

On June 02, 2017, Senator Charles Grassley, R-Iowa, who is the Chairman of the Senate Judiciary Committee, threatened to subpoena Mylan for information as the Company was not cooperating with the investigation regarding misclassification for EpiPen under Medicaid. Mylan representatives have agreed to meet Senator Grassley next week to sort out the matter.

In late March 2017, Meridian Medical Technologies, a Pfizer Company and Mylan's manufacturing partner for EpiPen® and EpiPen Jr. Auto-Injector, announced the global voluntary recall of 13 lots manufactured between December 2015 and July 2016. The recall was extended to the US markets later on as a precautionary measure. The recall was due to the possibility that some of the devices may have a defective part that does not allow for the activation of the injector in case of allergic reaction leading to serious health consequences for patients.

Mylan has been focused reducing its drug costs and on launching low cost generic of various drugs following the major political and public backlash due to the rising cost of its EpiPen in August 2016. In December 2016, Mylan had launched a generic version of the EpiPen, to counter the negative backlash.

Last Close Stock Review

At the closing bell, on Friday, June 02, 2017, Mylan's stock slipped 1.21%, ending the trading session at $39.08. A total volume of 6.07 million shares were traded at the end of the day, which was higher than the 3-month average volume of 5.54 million shares. In the last month and previous six months, shares of the Company have advanced 5.08% and 6.75%, respectively. Moreover, the stock gained 2.44% since the start of the year. Shares of the Company have a PE ratio of 38.92. The stock currently has a market cap of $21.20 billion.

Pro-Trader Daily:

Pro-Trader Daily (Pro-TD) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. PRO-TD has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

PRO-TD has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer") represented by a credentialed financial analyst, for further information on analyst credentials, please email contact@protraderdaily.com. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by PRO-TD. PRO-TD is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

PRO-TD, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. PRO-TD, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, PRO-TD, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither PRO-TD nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://protraderdaily.com/disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: contact@protraderdaily.com

Phone number: (917) 341.4653

Office Address: Mainzer Landstrasse 50 Frankfurt am Main, Germany 60325

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: Pro-Trader Daily