Analyst Sees Growth Potential For Mylan; Shares Jump

A lengthy analysis of generic drug maker Mylan Inc. helped drive its shares up by more than 6% at one point Thursday, as ISI Group's Umer Raffat said the company's Epipen franchise has long-term prospects. The device used to treat patients with anaphylaxis is one of several products that could help drive the company's shares to $56, Raffat said in a 107-page note, initiating coverage on the company. Generic forms of the respiratory drug Advair and the multiple sclerosis treatment Copaxone are two more key drivers of future business, along with the recently acquired generic operations of Abbott Laboratories , Raffat said. Shares of Mylan were up 4.5% to $47.30 in recent action.