GRAPHIC-Mylan stock boost follows long share struggles for company, generics industry [Reuters]
MYLAN NV ORDINARY SHARES (MYL)
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Source: Reuters
GRAPHIC-Mylan stock boost follows long share struggles for company, generics industry - Reuters 3 Min Read NEW YORK, July 29 (Reuters) - Shares of Mylan NV surged on Monday after the generic drugmaker agreed to combine with Pfizer Inc’s off-patent branded drugs business. But in the bigger picture, the surge is lost in a bleaker landscape for Mylan’s stock price and the broader generic drug industry since 2015. Mylan shares have been in decline for the past four years, after topping $76 in April 2015, according to Refinitiv data. On Monday, the shares closed at $20.78, a more-than 70% decline from that 2015 peak. This year alone, Mylan shares had lost one-third of their value through Friday, before news broke of the Pfizer tie-up. Mylan is far from alone when it comes to share price swoons for generic drugmakers, which broadly have seen severe declines over the past several years. “You have seen very challenging valuations for these companies and I think Pfizer sees that as an opportun
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