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MarketScreener Homepage  >  Equities  >  TEL AVIV STOCK EXCHANGE  >  Teva Pharmaceutical Industries Limited    TEVA   IL0006290147

TEVA PHARMACEUTICAL INDUSTRIES LIMITED (TEVA)
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Teva Pharmaceutical Industries : Comments on Anticipated At Risk U.S. Launch of Generic Glatiramer Acetate 40mg,mL and Launch of Generic Glatiramer Acetate 20mg, mL

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10/06/2017 | 12:45pm CEST

Release date- 05102017 - JERUSALEM - Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) today commented that any launch by Mylan of a generic version of COPAXONE 40mg/ml (glatiramer acetate) prior to final resolution of the pending patent appeals and other patent litigation should be considered an 'at risk' launch, which could subject Mylan to significant damages among other remedies.

Additionally, Mylan also announced approval of a generic glatiramer acetate 20mg/mL.

'We have planned for the eventual introduction of a generic competitor to glatiramer acetate,' said Dr. Yitzhak Peterburg, Teva's Interim President and CEO. 'We remain confident in patient and physician loyalty to Teva's COPAXONE due to its recognized efficacy, safety and tolerability profile, and we will continue to promote and support the product. As we are closing the third quarter, it is too soon to officially comment on any change to our full year business outlook.'

Two appeals will be argued before a single panel of judges of the U.S. Court of Appeals for the Federal Circuit. In the first case, Teva is appealing the December 2016 inter partes review decisions of the Patent Trial Appeal Board that found all of the claims of three COPAXONE patents to be unpatentable. In the second case, Teva is appealing the January 2017 decision of the U.S. District Court for the District of Delaware, which declared certain claims of four COPAXONE patents invalid. The two appeals have been fully briefed and await the scheduling of oral arguments. In additional litigation, Teva brought suit against five Abbreviated New Drug Application (ANDA) filers, including Mylan, for infringement of a patent covering a manufacturing process for glatiramer acetate product.

Due to the anticipated launch of another generic 20mg glatiramer acetate product and the anticipated launch of a first generic 40mg glatiramer acetate product, Teva's early assessment of the impact of these launches to its earnings for the fourth quarter ended December 31, 2017 is that it could be affected by at least $0.25 cents per share. These conditions are subject to change based on the discount; adoption rate and other factors of the competitive products. Teva will provide additional details on its 3rd Quarter Earnings Conference Call onNovember 2, 2017.

About Teva

Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) is a leading global pharmaceutical company that delivers high-quality, patient-centric healthcare solutions used by approximately 200 million patients in over 60 markets every day. Headquartered in Israel, Teva is the world's largest generic medicines producer, leveraging its portfolio of more than 1,800 molecules to produce a wide range of generic products in nearly every therapeutic area. In specialty medicines, Teva has the world-leading innovative treatment for multiple sclerosis as well as late-stage development programs for other disorders of the central nervous system, including movement disorders, migraine, pain and neurodegenerative conditions, as well as a broad portfolio of respiratory products. Teva is leveraging its generics and specialty capabilities in order to seek new ways of addressing unmet patient needs by combining drug development with devices, services and technologies. Teva's net revenues in 2016 were $21.9 billion.

Contact:

Tel: 215-591-8912

(c) 2017 Electronic News Publishing -, source ENP Newswire

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Number of Analysts 1
Average target price 19,5 $
Spread / Average Target -19%
Managers
NameTitle
Kåre Schultz President, Chief Executive Officer & Director
Sol J. Barer Chairman
Carlo de Notaristefani Executive Vice President-Global Operations
Michael McClellan Chief Financial Officer & Executive Vice President
Amir Elstein Independent Director
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