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Moody's: FDA approval of MS drug generic is credit positive for Mylan

Moody's said the U.S. Food & Drug Administration's approval of Mylan NV's generic version of multiple sclerosis treatment Copaxone is a credit positive for the company.

The approval is credit positive for Mylan because it represents a significant opportunity for additional growth in earnings and cash flow through 2018.

Moody's said the approval is credit negative for Teva Pharmaceutical Industries Ltd., since the launch of Mylan's generics will result in significant declines in Teva's largest product starting in the fourth quarter of 2017.

There are no changes to the ratings or outlooks of the companies.