August 9, 2016 / 5:21 PM / 2 years ago

BUZZ-Mylan shares gain steam heading into Q2 report

** Mylan shares up 3.3 pct in afternoon trading ahead of generic drugmaker’s Q2 report expected after the bell

** Shares higher after quarterly reports from specialty drugmakers Valeant and Endo that sent their respective stocks soaring on Tuesday

** YTD, Mylan shares down 7 pct against flat performance for the NYSE Arca Pharmaceutical index

** Mylan last week said it completed its acquisition of Swedish peer Meda

** “The pricing dynamics in the industry don’t provide the tailwind that MYL enjoyed last year and given the company’s increasingly aggressive capital deployment, we think MYL needs to alleviate concerns regarding its organic growth,” Barclays analyst Douglas Tsao said in a recent note

** Mylan’s Q2 EPS expected to be $1.13 (up 24 pct y/o/y) on rev of $2.57 bln (up 8.5 pct), according to Thomson Reuters I/B/E/S

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