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Fly News Breaks for March 12, 2015
MYL, TEVA
Mar 12, 2015 | 08:09 EDT
After StreetAccount reported that Teva (TEVA) is looking to buy Mylan (MYL), Bernstein says the deal faces several challenges in the near-term, including a disagreement between the two companies on the value of Mylan's epipen drug and the likelihood that Mylan will ask Teva to pay more than $70 per share. The firm also notes that Mylan is looking to launch a wave of new products in 2017-2018, while Mylan's Abbott would be difficult to value. However, Bernstein adds that it is possible that the two companies will be combined sometime in the future. It keeps an Outperform rating on both stocks.
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