TEVA
MYL is a generic drug manufacturer. The earlier decline in the stock was in sympathy with TEVA. TEVA is the largest generic drug manufacturer in the world. TEVA’s head of generics unexpectedly departed. The market extrapolated that one reason for his departure could have been the weakness in TEVA’s generic business. It is a stretch to assume from TEVA news that MYL business is also under pressure. Initially the market has been running with this stretch. However this afternoon cooler heads seem to be prevailing and MYL stock is recovering.
