J.P. Morgan Maintains Overweight Rating On Mylan

According to J.P. Morgan, Mylan MYL launch of a generic version of Entocort EC (budesonide capsules, $330mm in 2010 IMS reported sales) is an incremental positive for the stock. J.P. Morgan said that, with only one other known filer on the product, generic Entocort EC represents an attractive new product opportunity capable of generating $0.05-$0.10 in annual EPS for the next several years, by our estimates. “We maintain our OW rating on MYL shares.” Mylan closed yesterday at $22.92.