NEW YORK, NY / ACCESSWIRE / August 14, 2017 / While shares of Mylan continued to suffer last Friday, competitor Adamis Pharmaceuticals saw gains. Adamis has an Epinephrine injection that is a generic version of Mylan's EpiPen. Mylan not only failed to meet expectations in both the bottom and top line in its second quarter report, but also announced a cut in its earnings forecast for the next 18 months.

RDI Initiates Coverage on:

Mylan N.V.
https://ub.rdinvesting.com/news/?ticker=MYL

Adamis Pharmaceuticals Corporation
https://ub.rdinvesting.com/news/?ticker=ADMP

Mylan N.V.'s shares closed down 4.37% this past Friday on a little over 11 million shares traded. It was a bad week last week for the Britain-based biotech company. On Wednesday Mylan reported second quarter earnings of $297 million. Earnings after being adjusted were $1.10 per share which dragged behind the $1.18 per share that analysts had expected. Revenue at $2.96 billion was also below the $3 billion that Wall Street expected. What had traders even more on edge may have been the fact that company announced that it would not launch any major new drugs in the U.S. market this year. This defers the introduction of two highly anticipated generic drugs amid regulatory uncertainty: generic versions of Teva Pharmaceutical Industries Ltd.'s Copaxone and GlaxoSmithKline PLC's Advair. According to the company, they cannot rely on launching the drugs this year due to the FDA asking for more information. The company also cut its earnings forecast for the next 18 months.

Access RDI's Mylan N.V. Research Report at:
https://ub.rdinvesting.com/news/?ticker=MYL

Adamis Pharmaceuticals Corporation's shares closed up 6.67% on Friday on lackluster trading volume compared to usual. There was no significant news from the company to explain the jump in share price. It was in June that shares soared 35% when the company's Epinephrine injection, USP, (0.3 mg Pre-filled single dose syringe) was approved by the FDA. The injection is the generic version of Mylan's EpiPen. Traders may have been eager to pay attention to Adamis on Friday as shares of Mylan dropped after the company announced it would face delays in launching new medicines. In June, ValuEngine raised its rating on Adamis from "sell" to "hold" and Maxim Group reiterated a "buy" rating as well as a $10 price target.

Access RDI's Adamis Pharmaceuticals Corporation Research Report at:
https://ub.rdinvesting.com/news/?ticker=ADMP

Our Actionable Research on Mylan N.V. (NASDAQ: MYL) and Adamis Pharmaceuticals Corporation (NASDAQ: ADMP) can be downloaded free of charge at Research Driven Investing.

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