Citigroup Raises Estimates For Mylan

Mylan, Inc. (NASDAQ: MYL) has had its 2010/2011/2012 EPS estimates raised by Citigroup to $1.67/1.97/2.20 (from $1.64/1.83/2.09) as a result of the completion of the Bioniche acquisition and launch of generic Solodyn and Catapres TTS on 9/7, Citigroup reports.

Sales estimates for Mylan have also been raised to $5.60B/6.11B/6.62B (increased by $55M/197M/222M), according to Citigroup, which also reports that the integration of Bioniche into its model should help contribute to Mylan's goal of EPS of $2.00 for 2010.

Citigroup reiterates its Buy rating and $23 price target.

Mylan, Inc. closed yesterday at $17.70.

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