Teva Active on the Generics Front - Analyst Blog
April 05 2012 - 12:50PM
Zacks
Teva Pharmaceutical Industries Ltd. (TEVA) has
been pretty active on the generic product launch front with the
company launching several generic products in the last few weeks.
Among recently launched generic products are Teva’s generic
versions of Sanofi’s (SNY) high blood pressure
drugs, Avapro and Avalide, AstraZeneca’s (AZN)
schizophrenia treatment, Seroquel, and Forest
Laboratories’ (FRX) Lexapro.
While Teva will enjoy a 180-day period of marketing exclusivity
where the generic launches of Avapro, Avalide and Lexapro are
concerned, we note that other generic players like Dr.
Reddy’s Laboratories (RDY) and Mylan
(MYL) have also launched their generic versions of Seroquel.
As per IMS data, annual US sales of Avapro, Avalide, Seroquel,
and Lexapro were $464 million, $124 million, $4.6 billion and $2.9
billion, respectively.
Teva also launched its authorized generic of version of
Provigil. The branded product is marketed by Teva’s subsidiary,
Cephalon, Inc. As per IMS data, Provigil’s annual sales were $1.1
billion in the US.
US Generics Picking Up
Teva’s US generics business, which had been performing below
expectations in the past few quarters, showed signs of reviving
during the fourth quarter of 2011 with sales benefiting from the
exclusive generic launch of Eli Lilly’s (LLY)
Zyprexa. Teva has partnered with Dr. Reddy’s Laboratories for
Zyprexa.
Another important product launch was that of a generic version
of Pfizer’s (PFE) Lipitor. Teva has an agreement
with Ranbaxy regarding generic Lipitor.
The performance of the US generics segment should continue
improving - the company expects $650 million in new launches in
2012. The company is guiding towards US generics segment sales of
$5 billion, with sales slated to benefit from patent expirations
and product launches. However, competition in the generics market
will be tough.
We currently have a Neutral recommendation on Teva, which
carries a Zacks #3 Rank (short-term ‘’Hold’’ rating).
ASTRAZENECA PLC (AZN): Free Stock Analysis Report
FOREST LABS A (FRX): Free Stock Analysis Report
LILLY ELI & CO (LLY): Free Stock Analysis Report
MYLAN INC (MYL): Free Stock Analysis Report
PFIZER INC (PFE): Free Stock Analysis Report
DOCTOR REDDYS (RDY): Free Stock Analysis Report
SANOFI-AVENTIS (SNY): Free Stock Analysis Report
TEVA PHARM ADR (TEVA): Free Stock Analysis Report
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