According to RealGM

Yankees pitcher Phil Hughes will be out another 6-8 weeks.
New York general manager Brian Cashman on Wednesday revealed that Hughes, who has been on the disabled list since April 15, was treated with a cortisone injection on April 28 that has relieved some of the inflammation detected in his right shoulder.
Hughes, who won 18 games last year, suddenly saw his fastball plummet from 93-94 mph last year to between 89-91 mph this season, which resulted in his ERA soaring to 13.94 after three ineffective starts.
"He feels significantly better," Cashman said.
"I think he feels much better mentally about bigger concerns being ruled out," Cashman added, referring to the TOS test, which came back negative. "Hopefully, this was just a bump in the road, so to speak."
This is a huge blow to the Yankees and Phil Hughes owners as the news just gets worse for Hughes. Many people thought this was the year Hughes breaks out and has a monster year and finally becomes a center piece of the Yankees rotation alongside CC Sabathia and AJ Burnett. But this is just another blow to Hughes' career, one that has been filled with injuries, and will have to miss another 6-8 weeks before he can start throwing again.
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  1. As strange as this may sound, Bartolo Colon is a decent fantasy option in replacing Hughes long term. He has already tossed 33 innings to a 2-1 record and struck out 33 batters while walking just 6. I was watching him pitch the other night and his pitches were moving. Obviously this is a last resort, no one left on the FA list, but do not be afraid to make this move

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