Mylan trades on EpiPen and flies in premarket on Nasdaq (+10%)

Mylan earns more than 10% in premarket on the Nasdaq (Friday's session closed with a decline of 2.44%), after the US pharmaceutical group (which, however, has its fiscal headquarters in the Netherlands) surprisingly announced on Friday that it had reached an agreement with the US Justice Department to settle the disputes related to the controversial EpiPen Auto-Injector (an instrument for administering epinephrine mainly in cases of anaphylactic shock).

Mylan will pay $465 million in fines but will not have to admit to having committed any wrongdoing. The agreement arrived in record time given that just two weeks ago the Centers for Medicare and Medicaid Services (Cms, the US federal body that administers health insurance programs and in particular the reimbursement of drugs) had accused Mylan of having improperly classified the EpiPen as a generic product so as to be able to apply more limited discounts to Medicare and Medicaid (the 13% against the 23% due given that the drug, innovative, is in a substantial monopoly regime: the group has around 80% on the market).

(RR – FTA Online News)

10/10/2016 – THE PRESS Economy

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