Mylan (MYL) reported decent Q4 results and strong guidance for 2014 and beyond this morning. For details see my notes on the Mylan Q4 2014 analyst conference call.
Mylan sees a relatively flat (from year-earlier) Q1, but full year 2014 is expected between $7.8 and $8.2 million. Non-GAAP EPS is expected between $3.25 and $3.60.
The growth is based on new product ramps and expected approvals. Mylan sells generic drugs, so it has a large base of offerings and adds many new therapies each year. The FDA has a bit of a backlog, but that has been taken into account in the guidance. There is likely upside to the guidance if all the new therapies are approved and introduced in a timely fashion.
As of 11:37 A.M. Pacific Time, Mylan is trading at $56.47, up $5.05 or 9.8%.
In the long run Mylan looks even better. Management believes non-GAAP EPS can hit $6 per share in 2018. If you can wait that the long the stock should be worth roughly $120 per share.
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