Mylan Inc. (NASDAQ:MYL) shares trading up by 7.27%


Dallas, Texas 08/05/2013 (Financialstrend) – Mylan Inc. (NASDAQ:MYL) recently announced its second quarter results were it reported earnings per share (EPS) of $2.75-$2.95 against the expectation of $2.87, revenue was at $1.7 billion with the estimation of $1.73 billion. Earlier the company announced that Mylan Pharmaceuticals Inc. its subsidiary entered into an agreement with Genentech, OSI and Pfizer. by this agreement they will resolve patent litigation related to Erlotinib Hydrochloride Tablets, 150 mg, 100 mg and 25 mg for the treatment of first line patients with locally unresectable, advanced or metastatic pancreatic cancer. According to IMS Health Mylan has 174 ANDAs pending FDA approval worth of $83.2 billion in annual sales and out of these 174, 37 of these pending ANDAs are possible first-to-file opportunities.

Heather Bresch CEO of Mylan “our company is glad with today’s dominating and we look forward that it will allow United States of Appeals for the Federal Circuit has inverted a district court’s finding connected to Teva’s United States Patent 5,800,808 for Copaxone thereby validated the patent. According to IMS Health Erlotinib Hydrochloride Tablets 150 mg, 100 mg and 25 mg had United States sales of approximately $638.7 million for the 12 months ending March 31, 2013.

Shares of Mylan Inc. (NASDAQ:MYL) grounded by 7.12% to close at $36.40 per share on Friday, with the opening price at $35.41 per share. The company had through the day had range in the intraday price of $35.33 to $36.77 per share. The 52 week low is at $23.00 and 52 week high is at $36.77 per share. The company has 381 million outstanding shares in the market, 91% institutional ownership of capital and $13.87 billion market capitalization. There were 14.19 million shares of trading in the company’s stock on Friday and the average volume is at 4.10 million shares per day.