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Mylan stock bounces back from early losses after CEO blames FDA for drug delays

Mylan's stock bounced back in midday trading Wednesday from lower-than-expected second quarter earnings after the company's management said its generic drug Advair is not being delayed by further FDA-required studies.

After shares of the drug-maker dropped as far as 8 percent in premarket trading, Mylan's CEO Heather Bresch clarified on a call with investors that delaying Advair's launch to 2018 was due to the Food and Drug Administration reorganizing and changing its priorities.

"We see the administration as the barrier, and not the science," Bresch said.

Mylan's second-quarter earnings report missed estimates in what Bresch called "a...


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