Citigroup reiterates Mylan at buy

Mylan Laboratories Inc. was reiterated at buy by Citigroup Investment Research analyst Andrew Swanson after the company's analyst day. The company highlighted its manufacturing capability and is doubling the size of its Morgantown facility. This growth positions Mylan for acquisitions that would allow the company to close other facilities. With the Ditropan XL launch in fiscal 2007 and nebivolol contributions in fiscal 2008, Citigroup believes Mylan is well positioned to deliver earnings growth through a challenging period for the industry. Shares of the Canonsburg, Pa., pharmaceutical company were down 2 cents, or 0.09%, at $23.21 on volume of 726,700 shares versus the three-month running average of 1,577,200 shares. (NYSE: MYL)

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