Thursday, January 27, 2011

Mylan (NASDAQ:MYL) One of Top Generic Companies Says UBS (NYSE:UBS)

After settling with Pfizer (NYSE:PFE) over Lipitor, Mylan (NASDAQ:MYL) is positioned strongly for accelerated momentum, and is still one of the best positioned generic companies, UBS said.

UBS noted, "Caduet is the smaller of the opportunities with Ranbaxy already having settled with Pfizer (NYSE:PFE) and able to launch on November 30, 2011 as well. We assume Ranbaxy and Mylan share the exclusivity period (worth $0.07 to Mylan) and then Sandoz comes into the market. For Lipitor we assume Mylan will launch after the exclusivity period ends (along with Teva) in June 2012 with sales of -60M ($0.08 in EPS) in 2012E and -$95M ($0.14 in EPS) in 2013E."

"...And, with two additional date certain launches our 2011E EPS increases by $0.03 to $2.00 and our 2012E EPS increases by $0.08 to $2.30. We continue to see Mylan as one of the best positioned generics companies, and we continue to recommend the name."

UBS maintains a 'Buy' rating on Mylan (MYL), which closed Wednesday at $23.96, gaining $0.16, or 0.67 percent. UBS raised their price target on Mylan from $23 to $28.

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