Mylan (MYL, Financial) continues to face multiple headwinds including a challenging regulatory environment, pricing pressure on generic drugs in the U.S., and slower than expected regulatory approval of new products. We used the recent merger announcement between Mylan and the Upjohn division of Pfizer as an opportunity to trim into strength.
From Steven Romick (Trades, Portfolio)'s FPA Crescent Fund 3rd-quarter 2019 commentary.
