Mylan may have negative read-through from Teva report, says Wells Fargo

Wells Fargo analyst David Maris highlighted some items in Teva’s (TEVA) Q2 earnings report and conference call that he believes may have a negative read-through for Mylan (MYL). For one, Teva management said they expect the North American generics environment to remain challenging. Additionally, Copaxone sales were relatively flat sequentially, which would be a negative for Mylan if expectations are for increased contribution from Mylan’s Copaxone generic in Q2. Mylan has a large pipeline of biosimilars and Teva mentioned it is building a facility for biosimilars in Germany, which indicates more competition, added Maris, who keeps a Market Perform rating on Mylan shares.

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