Home / Biopharma / Street Highjack By Active Movers: Mylan N.V. (NASDAQ:MYL), Depomed, Inc. (NASDAQ:DEPO)

Street Highjack By Active Movers: Mylan N.V. (NASDAQ:MYL), Depomed, Inc. (NASDAQ:DEPO)

Mylan N.V. (NASDAQ:MYL) [Trend Analysis] attempts to attain leading position in street, Shares price changes as it -0.14% to close at $36.44 with the total traded volume of 6.71 Million shares. Hagens Berman Sobol Shapiro LLP alerts investors in Mylan N.V. (MYL) to the securities class action court case filed in the U.s.District Court for the Southern District of New York and of theDecember 12, 2016 Lead Plaintiff deadline.

The siege on Mylan in part surrounds its billing practices concerning its EpiPen Auto-Injector products that management wrongly classified as generic non-innovator drugs having little or no competition in the marketplace. The advantage of Defendants doing so was that the Firm paid lower rebates than legally required to do. Yet, as reported by Inside Health Policy on September 2, 2016, the Centers for Medicare & Medicaid Services “informed Mylan that it incorrectly classified EpiPen as a generic under the Medicaid rebate program, which caused financial consequences for federal and state governments by reducing the amount of quarterly rebates Mylan owed for its product.”

The firm has institutional ownership of 64.70%, while insider ownership included 0.20%. Its price to sales ratio ended at 2.04. MYL attains analyst recommendation of 2.00 with week performance of -6.25%.

Depomed, Inc. (NASDAQ:DEPO) [Trend Analysis] try to make new thrust in street and making different trends, stocks trading ended with -1.08% to $23.83. Depomed Inc inked a accord with activist investor Starboard Value LP to avoid a shareholder vote due next month to oust the drugmaker’s entire board. As part of the contract, Starboard agreed to drop the Nov. 15 vote in exchange for adding three directors selected by the hedge fund to Depomed’s board, the firm stated in a press release.

Depomed also stated it has agreed to move the window for shareholders to nominate directors to the board to March 15, 2017. Starboard has agreed to certain restrictions until that date, the firm stated, at which point it will be allowed to nominate more directors if it chooses.

The five-month truce allows Depomed to put the threat of a proxy fight on hold. It also allows the firm to explore its possible sale without that distraction hanging over the process. The share price of DEPO attracts active investors, as stock price of week volatility recorded 3.13%. The stock is going forward to its 52-week low with 94.53% and lagging behind from its 52-week high price with -11.81%.


About Gerard Bergeron

Gerard Bergeron covers Bio-pharmacy or healthcare sector Press Releases news updates. He has extensive three year of experience in content writing as freelance writer. He performs analysis of Healthcare Companies and provides worthy information for investor community. He is an experienced writer with a precise grasp of the English language and a clear, compelling writing style.

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