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Sell-off in generic drugmakers a buying opportunity for this one, Citi says

Mylan EpiPen
Drew Angerer | Getty Images

Citi Research upgraded Mylan shares, saying the generic drug manufacturer is "the best positioned" after a disappointing earnings season for the industry.

"While we acknowledge that the stock could be impacted by broader generic industry challenges, we see MYL as better positioned," wrote Citi analyst Liav Abraham in Tuesday's note to clients. "We see optionality on a differentiated and durable generics product portfolio, a broad pipeline of complex generics/ biosimilars, and a more favorable balance sheet profile vs. the peer group."

Mylan's second-quarter earnings report missed estimates last week in what CEO Heather Bresch called "a tough quarter," before adding that Mylan is "managing for the long term."