Stock Alert: Mylan Shares Up 18% In Pre-Market

(RTTNews) - Mylan N.V. (MYL) shares are rising above 18% in pre-market today, following a 4.87% gain in the previous session. The stock has been trading between $12.75 and $29.12 in the past one year and closed Thursday's trade at $14.87, up 69 cents or 4.87%.

The company, on March 19, said it has ramped up U.S. manufacturing of Hydroxychloroquine Sulfate tablets to meet potential COVID-19 patient needs.

Mylan noted that it expects to be in a position to begin supplying product by mid-April, and with the active pharmaceutical ingredient that it currently has available, would be able to ramp up manufacturing to provide 50 million tablets to potentially treat a total of more than 1.5 million patients. The potential use of this medicine for COVID-19 related treatment is pending additional FDA and other regulatory body guidance.

MYL is currently trading at $17.68, up $2.81 or 18.90% in the pre-market trading session.