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Mylan (MYL) Leaped To A 2-Month High After FDA Approval

Mylan (MYL) announced Wednesday morning that it has received approval from the FDA for Glatiramer Acetate Injection 40 mg/mL for 3-times-a-week injection. The drug is a generic version of Teva's (TEVA) Copaxone, for patients with relapsing forms of multiple sclerosis.

Mylan gapped open sharply higher Wednesday, but traded in a range for the majority of the session. The stock closed up by 5.27 at $37.80 on the highest volume of the year. Mylan jumped to a 2-month high and re-crossed its 50 and 200-day moving averages.

by RTT Staff Writer

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