Mylan NV (MYL) - Get Report will conduct its investor day in New York City on Wednesday, April 11, and among the key topics shareholders will focus on is the drug company's biosimilar pipeline, analysts said.
The biosimilar pipeline opportunities "provide longer-term upside potential," according to BTIG LLC analyst Timothy Chiang in a note on April 9.
"We believe Mylan is currently in development on more than 15 biosimilar product opportunities, including 8 of the top 10 best-selling biologic products," Chiang wrote.
In December, the U.S. Food and Drug Administration greenlighted Ogivri, a biosimilar, or copy, of Roche Group (RHHBY) unit Genentech's Herceptin, which is used to treat breast cancer and metastatic stomach cancer. Mylan developed Ogivri with Biocon Ltd.
Mylan in February said it has teamed up with Revance Therapeutics Inc. (RVNC) - Get Report to develop and commercialize a proposed biosimilar of Allergan plc's (AGN) - Get Report Botox, which has both therapeutic and cosmetic indications.
The investor day will kick off at 1 p.m. ET on Wednesday and is expected to wrap up by 4 p.m.
At the event, Mylan could also provide additional details on its international business segments, Chiang said.
"Unlike the N. American segment, which experienced a 15% decline in profits last year, the Co.'s international segments have benefited from higher volume d trends and more stable pricing (especially in Europe)," said Chiang, who has a buy rating and a $55 price target on the stock.
Shares of Mylan closed at $41.52 on Tuesday, up 4.2%. The stock is down 1.9% year-to-date and up 5.8% over the last 12 months.
Earlier on Tuesday, the company said it is partnering with Ness Ziona, Israel-based Mapi Pharma Ltd. on the development and commercialization of GA Depot, a proposed once-monthly injection for the treatment of patients with relapsing-remitting multiple sclerosis. Mylan is purchasing global marketing rights to the product.