Mylan, Pfizer, GlaxoSmithKline, Bristol Myers Squibb and Petrobras

CHICAGO--([ BUSINESS WIRE ])--Zacks.com Analyst Blog features: Mylan (Nasdaq: [ MYL ]), Pfizer (NYSE: [ PFE ]), GlaxoSmithKline (NYSE: [ GSK ]), Bristol Myers Squibb (NYSE: [ BMY ]) and Petroleo Brasileiro (NYSE: [ PBR ]).

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Here are highlights from Mondaya�s Analyst Blog:

Mylan Gains Generic Approval

Matrix Laboratories, a subsidiary of Mylan (Nasdaq: [ MYL ]), recently received final approval from the US Food and Drug Administration (FDA) for its generic version (gabapentin) of Pfizera�s (NYSE: [ PFE ]) Neurontin, a treatment for postherpetic neuralgia. Gabapentin tablets had US sales of about $174 million for the twelve months ending March 31, 2010.

In the past few months, Mylan has received approval for other significant drugs, including for Valtrex, GlaxoSmithKlinea�s (NYSE: [ GSK ]) treatment for herpes virus infection, Boehringer Ingelheim's benign prostatic hyperplasia (BPH) treatment, Flomax; Lundbecka�s Desoxyn, and generic versions of Glaxoa�s smoking cessation aid Zyban.

Mylan received a noteworthy FDA approval for HIV treatment as well. The company received approval under the President's Emergency Plan for AIDS Relief (PEPFAR) for the generic version of Bristol Myers Squibb's (NYSE: [ BMY ]) HIV treatment, Videx.

Mylan is a leading player in the generics market. Currently, Mylan has 140 Abbreviated New Drug Application (ANDAs) pending FDA approval, representing $95.5 billion in annual brand sales, according to IMS Health. Among these, 40 are potential first-to-file opportunities, representing $21 billion in annual brand sales.

Given the strength of Mylana�s generics portfolio, the company recorded a 7% increase in revenues during the first quarter of 2010. The company re-affirmed its 2010 EPS guidance in the range of $1.50 to $1.70 and expects to generate total annual revenue of about $5.45 billion to $5.75 billion.

More Oil Discovery for Petrobras

Brazilian state-controlled oil company Petroleo Brasileiro (NYSE: [ PBR ]) announced the discovery of a new light oil accumulation in the Campos Basin off the Brazil's southeastern coast, following a string of major offshore finds. As per the company, this new find, named Brava, holds an estimated 380 million barrels of recoverable oil equivalent, which is equal to 2.6% of the companya�s proven reserves. The discovery was made at a depth of 4,460 meters at the Marlim field, which is situated 170 kilometers (105 miles) off the coast of Macae, a city in Rio de Janeiro state.

Petrobras has discovered billions of barrels of oil in offshore reserves in the past two years and more recently made a successful discovery of two other oil deposits in the Campos Basin, where most of the Brazilian crude production takes place. The company also plans to continue to perform more tests to evaluate the productivity of the reservoirs.

Petrobras projected investments in the range of $200 to $220 billion for the four-year period 2010 a" 2014, mainly to develop new oil fields. The company targets to reach daily production level of 5.7 million barrels a day by 2020 (up from the production of 2.5 million barrels a day in 2009), based on developments of fields in deep waters of the Atlantic Ocean.

Petrobras, a global leader in deepwater oil exploration and production, dominates Brazila�s oil and gas sector. It produces substantially all of Brazila�s crude oil and natural gas, accounts for almost all of the countrya�s refining capacity, is building the countrya�s natural gas infrastructure and enjoys premium market share positions in the petroleum product and liquefied petroleum gas (LPG) marketing businesses. While the company no longer operates as a legal monopoly, the size and reach of its operations make it a quasi-monopoly in Brazil.

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Mylan, Pfizer, GlaxoSmithKline, Bristol Myers Squibb and Petrobras