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Friday, September 6, 2019

Perrigo Prevacid deal stokes buying in generic players

Perrigo (PRGO +3.3%) adds to yesterday’s 3% jump on the heels of its acquisition of U.S. OTC rights to Glaxo’s heartburn med Prevacid (lansoprazole). Bargain hunters apparently like the deal and are behaving as if they perceive a rosier outlook for the beaten-down group.
Selected tickers: Aclaris Therapeutics (ACRS +9.7%), Amphastar Pharmaceuticals (AMPH +2.9%), Amneal Pharmaceuticals (AMRX +9.3%), ANI Pharmaceuticals (ANIP +0.7%), Bausch Health Companies (BHC +2.3%), Coherus BioSciences (CHRS +0.6%), Eagle Pharmaceuticals (EGRX +0.6%), Endo International (ENDP +16.7%), Lannett Company (LCI +11.4%), Mallinckrodt (MNK +5%), Mylan (MYL +0.7%), Pfenex (PFNX +6.4%), Dr. Reddy’s Labs (RDY +1.8%), Teva Pharmaceutical Industries (TEVA +3.1%)

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