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Oct. 29, 2015, 9:56 AM
- Teva Pharmaceutical (TEVA +1.4%) Q3 results: Revenues: $4,823M (-4.6%); COGS: $2,052M (-8.8%); R&D Expense: $361M (-12.4%); SG&A: $1,096M (-11.8%); Operating Income: $1,010M (-9.2%); Net Income: $103M (-88.2%); EPS: $0.12 (-88.2%); Quick Assets: $928M (-58.3%).
- 2015 Guidance: Total Revenues: $19.4B - 19.6B from $19.0B - 19.4B; Gross Margin: 61.5% - 62.5% from 60.0 - 62.0% ; Non-GAAP EPS: $5.40 - 5.45 from $5.15 - 5.40.
Oct. 29, 2015, 7:25 AM
- Teva Pharmaceutical (NYSE:TEVA): Q3 EPS of $1.35 beats by $0.07.
- Revenue of $4.82B (-4.7% Y/Y) beats by $50M.
Oct. 28, 2015, 5:30 PM
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Oct. 28, 2015, 11:00 AM
- Teva Pharmaceutical Industries (TEVA +3%) will report Q3 results tomorrow before the open. Consensus view is EPS of $1.28 (-3.0%) on revenues of $4.77B (-5.7%).
Oct. 14, 2015, 10:10 AM
- The FDA approves Lannett's (LCI +0.6%) generic memantine hydrochloride oral solution 2 mg/mL, a therapeutic equivalent to Actavis' [now Teva's (NYSE:TEVA)] Namenda (memantine HCl), for the treatment of dementia associated with Alzheimer's disease.
- According to IMS, the wholesale market in the U.S. is ~$12M.
Oct. 12, 2015, 9:44 AM
- Teva Pharmaceutical Industries (TEVA -0.3%) launches its generic equivalent to Glaxo's (GSK -0.3%) Avodart (dutasteride) capsules, 0.5 mg, in the U.S. for the treatment of men with benign prostate hyperplasia (enlarged prostate). The company was the first to file so it will be exclusive for several weeks.
- According to IMS, Avodart generated almost $470M in sales over the 12-month period ending in July.
Oct. 1, 2015, 8:42 AM
- Teva Pharmaceutical Industries (NYSE:TEVA) acquires Mexico City-based Representaciones e Investigaciones Medicas, S.A. de C.V. (Rimsa) for $2.3B. The transaction establishes Teva as the leading pharma firm in Mexico and positions it for long-term growth in Latin America.
- Rimsa's revenues for 2014 were $227M with an annual top-line growth rate of over 10%.
- The deal, funded with cash on hand and lines of credit, should close in Q1. It is expected to be accretive to Teva's non-GAAP earnings starting Q1 2017.
- TEVA is up 2% premarket on average volume.
Sep. 30, 2015, 12:49 PM
- Bruised and battered biotech investors get some welcome buying today as bargain hunters open their wallets. The iShares Nasdaq Biotech Index Fund (IBB +2%) is up nicely, albeit on average volume.
- Key tickers: (AMGN +1.6%)(BIIB +2.5%)(GILD +1%)(CELG +0.7%)(DEPO +12.4%)(HZNP +8.6%)(NVO +0.7%)(AGN +4.9%)(VRX +6.4%)(REGN +0.9%)(TEVA +2%)(SHPG +2.6%)
Sep. 28, 2015, 4:53 PM
- Allergan (NYSE:AGN) says it will begin reporting its Global Generic business as discontinued operations in Q3, ahead of the closing of its deal with (NYSE:TEVA), which is expected to close in Q1 2016.
- Its forecast for H2 for continuing operations (U.S. Brands, U.S. Medical, International Brands and Anda distribution) calls for revenues greater than $8B, non-GAAP EBIT between $3.8B - 4.0B and non-GAAP EPS between $6.25 and 6.65.
- After the TEVA deal closes, the company expects 10% branded revenue per year, non-GAAP gross margins of 77 - 79%; non-GAAP SG&A as a percentage of revenue of 21 - 24% and a non-GAAP tax rate of ~15%.
Sep. 28, 2015, 7:53 AM
- The Japanese Ministry of Health, Labour and Welfare approves Teva Pharmaceutical Industries' (NYSE:TEVA) COPAXONE (glatiramer acetate injection) 20 mg for the prevention of relapse of multiple sclerosis (MS). The product will be commercialized there by Takeda Pharmaceutical (OTCPK:TKPHF) (OTCPK:TKPYY).
- COPAXONE is Teva's biggest seller by far, generating $4.2B in sales over the past four quarters.
Sep. 25, 2015, 9:38 AM
- Teva Pharmaceutical Industries (NYSE:TEVA) acquires Cambridge, MA-based Gecko Health Innovations for an undisclosed sum. Gecko creates smart solutions that help patients with chronic diseases to better manager their condition. With an initial focus on COPD and asthma, it has designed and built hardware and software solutions to collect and present important data in a high-value-added way using behavioral tools to promote better disease management. It launched CareTRx this year, which is a cloud-based solution designed to simplify chronic respiratory disease management via connecting patients and caregivers through remote monitoring and real-time adherence tools.
- The acquisition will allow Teva to explore innovative ways to apply the CareTRx technology to its pipeline and portfolio of respiratory products with the aim of improving clinical outcomes for patients.
Sep. 18, 2015, 6:13 PM
- Mexico City-based generic drugmaker Representaciones e Investigaciones Medicas -- Rimsa -- is drawing interest from big pharma companies, particularly including Pfizer (PFE -1.9%), Sanofi (SNY -3%) and Abbott Laboratories (ABT -2.1%), Bloomberg reports.
- Rimsa could draw about $1B in a purchase by any of a list of suitors, which also could include Teva (TEVA -1.6%) and Takeda (OTCPK:TKPYY -1.9%).
- Healthcare spending rates in Mexico are expected to rise to be more in line with other emerging markets like Brazil and Chile. Spending is relatively low and the market is fragmented.
- Goldman Sachs is managing the sale.
Sep. 10, 2015, 11:17 AM
- The FDA accepts for review the supplemental New Drug Application (sNDA) from Teva Pharmaceutical Industries (TEVA -0.3%) seeking approval for the use of ProAir RespiClick (albuterol sulfate) Inhalation Powder for the treatment of bronchospasm in pediatric patients aged four to 11 years.
- ProAir's current label, approved in March, applies to patients at least 12 years old.
Sep. 10, 2015, 8:46 AM
- IBM Watson Health announces that Teva Pharmaceutical Industries (NYSE:TEVA) is the first global pharma firm to sign on as a Foundational Life Sciences Partner for the Watson Health Cloud, a cognitive computing platform designed to process vast amounts of healthcare-related Big Data. It is an open development system that can interact in natural language instead of computer code.
- Teva will work with IBM on developing long-range solutions designed to collect and analyze real world data that will lead to new insights and inform a variety of initiatives such as reducing drug misuse and increasing prescribed medication adherence.
Aug. 25, 2015, 7:22 PM
- Eli Lilly (NYSE:LLY) says a U.S. federal court ruled that generic products proposed by a unit of Teva Pharmaceutical (NYSE:TEVA) would infringe a U.S. patent for LLY’s blockbuster cancer drug Alimta.
- The patent, which covers the administration of Alimta to patients with a vitamin regimen, provides intellectual property protection until May 2022, potentially preserving U.S. market exclusivity for Alimta until then, rather than allowing generic competition in 2017 when a separate patent expires.
- Teva had challenged a March 2014 ruling that upheld the validity of the vitamin regimen patent.
Aug. 12, 2015, 8:48 AM
- The FDA accepts for review Teva Pharmaceutical Industries' (NYSE:TEVA) New Drug Application (NDA) seeking approval of Orphan Drug-tagged deutetrabenazine (SD-809) for the treatment of chorea (involuntary movements) associated with Huntington's disease (HD), a rare and fatal inherited neurodegenerative disorder that affects ~20K Americans.
- Deutetrabenazine is an oral small molecule inhibitor of vesicular monoamine 2 transporter (VMAT2), a membrane protein that transports neurotransmitters such as dopamine and serotonin and is necessary for the vesicular release of the neurotransmitter GABA. Teva acquired ownership of the product candidate via its acquisition of Auspex Pharmaceuticals in May.
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