Teva working to protect key drug's sales ahead of generic competition

|About: Teva Pharmaceutical In... (TEVA)|By:, SA News Editor

Teva Pharmaceuticals (TEVA) is busily trying to convert users of its MS drug, Copaxone, to its new formulation that has patent protection until 2030 before competing generics launch in May.

The new version requires thrice-weekly injections instead of daily.

Copaxone delivers over 20% of the firm's revenues and 50% of its profit, so management is keen to preserve as much of the revenue stream as possible.

The company offers a $1,000 discount from the current annual cost of $60,500 as an incentive to convert to the new version.

Investors don't yet seem concerned about the issue since shares are up 23% year-to-date.

Mutual fund ownership has eased from 1054 to 967 over the past four quarters.