Diamonds and Dogs
Mylan (MYL) getting a boost. The generic drug maker is up a percent not far from its monthly high after announcing the launch of a generic drug version of Zovia, used by women to prevent pregnancy. 2016 is a year Mylan would like to forget as the stock and company got battered after politicians exposed the dramatic price hike for their popular life-saving drug, the epipen. Mylan currently has more than 240 drugs pending FDA approval and trades for only 7 times earnings. Hopefully 2017 will be a better year for Mylan.
Ionis Pharmaceuticals (IONS) has been on a roller coaster ride this year. The biotech company along with partner, Biogen received FDA approval for Spinraza, the first treatment in the U.S. for spinal muscular atrophy particularly in children and adolescents. That's the good news. However, Ionis stock is lower by 3.5% on concerns for pricing on the drug and treatment. An analyst estimates there are about 1,700 patients who could start treatment in 2017, but at a cost of around $400,000 for the first year of treatment (the dosing schedule involves more of the drug being used initially), and $200,000 per patient in year two and beyond.