Reuters dominates coverage of Mylan probe, shares yo-yo

Shares in Mylan, the world’s No. 3 generic drug maker, jumped 10.5 percent on July 28 after Reuters was first with the company denying accusations about sloppy practices at its key manufacturing plant. Reuters headlines were at least 5 minutes ahead of both Bloomberg and Dow Jones. Shares erased all of those gains later that day, when Reuters was also first in obtaining a crucial statement from the FDA that seemed to take issue with Mylans comments. The agency said the probe into the Mylan plant was ongoing and that statements to the contrary were untrue. Reuters headlines from the FDA statement were 13 minutes ahead of Dow Jones and 4.5 hours ahead of Bloomberg. We had already broken the news on July 27 that the FDA had started a probe into Mylan after the Pittsburgh Post-Gazette raised the quality-control problems.