Copaxone Dosage Change Gives Teva Boost
Teva Pharmaceutical Industries’ initial success in switching Copaxone dosage to three times a week instead of daily is giving the company a much-needed boost.
“Teva’s early progress in shifting daily Copaxone takers to a new formulation has persuaded some analysts the drugmaker may succeed in converting as many as half of its multiple sclerosis patients,” says Bloomberg.
“Leerink Swann & Co. and Cowen & Co. analysts said the results mean the world’s largest maker of generic drugs may deliver on its plan to bring 30-50% of patients to the three-times-weekly version.” Last week, Barclays Capital and Leerink Swann raised target prices for Teva to $65.
Copaxone had $4 billion in sales in 2013, accounting for over half of Teva’s profit, according to estimates. Copaxone’s patent expires in May. Teva is trying to switch patents to the larger dose, whose patent expires in 2030. Bernstein Research analyst Ronny Gal notes that uncertainty remains as to how much market share Copaxone will retain when generic versions are expected to enter the market after 2014.
This article appeared in print on page 31 of edition of Hamodia.
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