NEW YORK (TheStreet) -- Shares of Mylan Inc. (MYL) are up 3.30% to $48.59 after it was reported that the generic drugs company, along with private equity groups TPG Capital, Advent International, KKR & Co. (KKR) , and Warburg Pincus, and some Indian drug makers, have made it through to the second round of bidding for a portfolio of mature drugs being sold by GlaxoSmithKline (GSK) , sources told the Wall Street Journal.
Glaxo has said it is looking to sell a portfolio of prescription medicine brands in Europe and the U.S. with annual sales of about $1.66 billion.
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TheStreet Ratings team rates MYLAN INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate MYLAN INC (MYL) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, reasonable valuation levels, solid stock price performance and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income."
Highlights from the analysis by TheStreet Ratings Team goes as follows: