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TEVA vs. ETF Alternatives
Wednesday, Mar 1211:31 AM
Wednesday, Mar 1211:31 AM| 2 Comments
- Teva Pharmaceutical (TEVA) settles its illegal kickback scheme case with the US Department of Justice and the state of Illinois for paying $50,000 to a Chicago physician for prescribing its generic clozapine dating back to 2003. The payments and other incentives were made by IVAX which TEVA acquired in 2005.
- For a while, the physician, Dr. Michael Reinstein, was the largest prescriber of the product in the US.
Wednesday, Mar 127:37 AM
Wednesday, Mar 127:37 AM| Comment!
- FDA approves the first transcutaneous electrical nerve stimulation (TENS) device, made by the Belgian firm STX-Med, for the prevention of migraine headaches.
- The product, called Cefaly, is battery operated and resembles a plastic headband worn across the forehead.
- Cefaly is available by prescription to patients aged 18 years and older. It should be used only once per day for no more than 20 minutes.
- Other FDA-approved products, such as TEVA's (TEVA) Zecuity, treat migraine symptoms.
Friday, Mar 710:31 AM
Thursday, Mar 67:52 AM
Tuesday, Mar 412:20 PM|Tuesday, Mar 412:20 PM| 1 Comment
Monday, Mar 310:50 AM
Monday, Mar 310:50 AM| 1 Comment
- 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.
Friday, Feb 218:10 AM|Friday, Feb 218:10 AM| Comment!
Sunday, Feb 162:56 AM
Sunday, Feb 162:56 AM| 2 Comments
- Teva (TEVA) has received a vote of confidence from George Soros, whose family office increased its stake in the Israeli pharmaceuticals company by 5.7M shares in Q4.
- The move boosted the value of Soros Fund Management's stake in Teva to $373M, or 4% of the $9.2B vehicle.
- The news comes after Teva named turn-around specialist Erez Vigodman as CEO in January.
Monday, Feb 108:56 AM
Monday, Feb 108:56 AM| Comment!
- U.S. authorities are investigating Teva (TEVA -0.7%) for possible violations of the federal False Claims Act in relation to the marketing and sales of the company's Copaxone and Azilect products.
- Teva received a subpoena on January 8 from the U.S. District attorney seeking documents and information from 2006 until the present in relation to the probe.
- Since 2012, Teva has been under investigation for the possible bribery of foreign officials. (SEC Filing)
Thursday, Feb 67:39 AM
Thursday, Feb 67:39 AM| Comment!
- Teva (TEVA) net profit rises to $380M from $320M.
- The 4.8% increase in revenue was primarily attributable to higher sales of generic medicines in the U.S., specialty medicines globally and OTC products. The rise was partially offset by a decrease in generics sales outside the U.S., mostly in Japan due to the weaker yen, and API sales to third parties.
- Revenue breakdown: total generics +1% to $2.7B; specialty medicines +5% to $2.2B. Copaxone +8% to $1.1B.
- Teve reaffirms its 2014 outlook.
- Declares 2013 dividend of 1.21 shekels ($0.34) a share, +5% from Q3. The record date will be February 24, and the payment date March 10. Tax will be withheld at a rate of 15%. (PR)
Thursday, Feb 67:02 AM|Thursday, Feb 67:02 AM| Comment!
Wednesday, Jan 294:57 AM
Wednesday, Jan 294:57 AM| Comment!
- Teva's (TEVA) shares are +2.7% in Tel Aviv after the FDA approved a 40 mg dose of the company's multiple sclerosis drug Copaxone that would be administered three times a week.
- Teva now plans to convert 57% of patients to the new regimen by the year-end from the daily dose of 20 mg.
- The longer-lasting regimen should help Teva cope with generic competition when Copaxone's patent protection expires in May. The higher-dosage version is protected until 2030. (PR)
Thursday, Jan 239:26 AM
Thursday, Jan 239:26 AM| Comment!
- Teva Pharmaceutical (TEVA -0.7%) intends to cut the size of its board and add directors with "global healthcare experience," Chairman Phillip Frost says in a letter to shareholders.
- The move is part of a wider review of corporate governance, which Frost says is a "priority."
- The letter comes after Teva recently hired turn-aroud specialist Erez Vigodman as CEO to replace Jeremy Levin, who resigned in October amid a reported difference of opinion with the company's board - and Frost specifically - over strategy.
Tuesday, Jan 217:30 AM
Tuesday, Jan 217:30 AM| Comment!
- NuPathe (PATH) has terminated its agreement to be bought by Endo Health Solutions (ENDP) and will instead recommend that shareholders approve Teva's (TEVA) offer of $3.65 a share, or approximately $144M.
- Endo had bid $2.85.
- Teva will pay another $3.15 a share depending on sales of Nupathe's Zecuity treatment, the only FDA-approved prescription migraine patch. Endo also offered that amount in milestone payments. (PR)
Tuesday, Jan 144:21 PM|Tuesday, Jan 144:21 PM| Comment!
Tuesday, Jan 143:37 PM
Tuesday, Jan 143:37 PM| 1 Comment
- Shares of Teva Pharmaceutical (TEVA +8.4%) are on their way to a solid session.
- The move higher is likely attributable to the reportedly upbeat tone struck at the JPMorgan Healthcare Conference, where the company presented today at 1:30 ET.
- According to chatter, the company says it is moving quickly with its new CEO.
- Also overheard during the presentation: The company is keeping the biosimilars business and remains interested in acquisitions.
- In other company news, TEVA says data published in the online scientific journal PLOS ONE suggests there are significant differences in biological and immunological effects between Copaxone and a purported generic." (PR)
- View all 2 replies
1980XLS:: Wondering what happened. Glad to see you back.
chuck holladay:: Absolutely glad to see you back.