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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It might be a good time to buy the stock because of its recent pullback, but there also is an ETF traders might consider if the telemedicine sector is of interest.
Technical analysis and trading strategy for the healthcare plan provider.
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