We don't know if Mylan's (MYL) going to get Perrigo (PRGO) or whether someone else wants Mylan -- mainly Teva Pharmaceutical (TEVA). I think Mylan should be up big because if it gets Perrigo, that would be fantastic.
Still, what it has done, once again, is put the spotlight on a whole segment of drug stocks that haven't been moving of late. For example, the four horsemen of the big pharma apocalypse are back -- Biogen (BIIB), Celgene (CELG), Gilead (GILD) and Regeneron (REGN). You are seeing Mallinckrodt (MNK) and Horizon (HZNP) -- a little like Teva and Mylan -- exploding higher. You have the second-tier biotechs, the Jazz Pharma (JAZZ) and Vertex (VRTX) taking off.
It's basically just another jump-ball moment for off-the-beaten-track drug stocks.
This Mylan deal -- buy or sell -- is going to be the talk for the next few days. I sense the moves aren't over.
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This drugmaker is making a historic upside breakout. Let's check the charts.
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