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Monday, Jul 29
Teva faces generic Copaxone a year early
- Shares of Teva Pharmaceutical (TEVA -2.2%) are lower after the U.S. Court of Appeals invalidates a 2015 Copaxone patent.
- The company expects the FDA to approve a longer-acting version of the drug early next year and had planned to spend 2014 converting patients to the new dosage. With generic competition now possible in less than a year, TEVA's original plan is now "de facto impossible," according to one hedge fund manager quoted by Bloomberg.
- Previously: Momenta Pharmaceuticals soars on Copaxone ruling.