Tag Archives: myl

Mylan Finds Support After Abbott Labs Offering Tumble

Mylan Labs (MYL) gapped lower Monday morning after announcing that Abbott Laboratories (ABT) would sell about one-third of its recently acquired stake in the generic drug maker. But Mylan shares bounced off a key support level. Mylan will offer 35 million shares on behalf of Abbott, or 31.8% of Abbott’s stake in Mylan. Underwriters also have the right to buy another 5.25 million shares from Abbott. Abbott acquired 110 million Mylan shares last

This High-Rated Drug Stock Just Neared A Buy Point

Going into Thursday trading, Mylan (MYL) stock stands a chance of entering buy range. Shares closed up 6.7% Wednesday at 59, briefly rising past a buy point of 59.70 during the day, after product launches and chatter about whether it could be for sale, maybe to Teva Pharmaceutical Industries (TEVA). Mylan stock opened at 59.07 Thursday morning and was trading at 59.55 early on. Mylan is among top-rated stocks in the generic drugs industry, along

Sale Rumor, Drugs Launch Boost High-Rated Mylan Stock

Mylan (MYL) stock broke out Wednesday as rumors circulated on Twitter that the generic and branded drugmaker might be for sale, possibly to Teva, and as it announced three drug launches. Mylan stock rose 6.7% Wednesday to 59, briefly passing a buy point of 59.70 before easing, and Teva Pharmaceutical Industries (TEVA) gained 2.5%. Analysts were divided about the logic of Teva acquiring Mylan, a competitor in generic drugs. BMO Capital Markets