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Teva Pharmaceutical Industries Limited (TEVA)

  • Tue, Feb. 17, 10:06 PM
    • Elite Pharmaceuticals (OTCQB:ELTP) plans to commence a Phase 3 study in late March evaluating its abuse-deterrent opioid product candidate, ELI-200. The company has submitted a study protocol to the FDA and expects to receive its comments by mid-March. Patient dosing should start shortly thereafter.
    • The multi-center, randomized, double-blind, placebo-controlled, parallel group clinical trial will assess the safety and efficacy of abuse-deterrent ELI-200 for the treatment of adult patients with moderate-to-severe pain following surgery. The study will enroll ~150 patients and will take ~eight weeks to complete.
    • Elite projects submitting a New Drug Application (NDA) in Q3 and achieving regulatory clearance by early 2016.
    • The company's abuse-deterrent technology is a multi-particulate capsule that contains an opioid agonist in addition to the opioid antagonist, naltrexone. If the multi-particulate beads are crushed or dissolved, the naltrexone is released which blocks the effects of the opioid. The technology is the firm's top priority, expected to add considerably to its modest revenues to date. Fiscal Q3's top line was only $1.4M.
  • Tue, Feb. 17, 1:03 PM
    • Teva Pharmaceutical Industries (TEVA +0.4%) launches its generic version of Sanofi's (SNY -0.6%) Lovenox (enoxaparin sodium injection) for the prophylaxis of deep vein thrombosis (DVT) and treatment of acute DVT. Lovenox generates ~$1.8B in U.S. sales.
    • It also launches a generic version of Pfizer's (PFE -0.2%) Zyvox (linezolid) for the treatment of infections caused by Gram-positive bacteria. Zynox generates ~$465M in U.S. sales.
    • As of January 22, Teva had 120 product registrations pending FDA approval, representing U.S. sales of over $86B.
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  • Tue, Feb. 17, 10:05 AM
    • Eagle Pharmaceuticals (EGRX +9.7%) and Teva Pharmaceutical Industries (TEVA +0.3%) enter into an exclusive license agreement for EP-3102, Eagle's bendamustine hydrochloride rapid infusion product for the treatment of chronic lymphocytic leukemia (CLL) and indolent B-cell non-Hodgkin lymphoma (NHL).
    • Teva will be responsible for all U.S. commercial activities while Eagle will manage all regulatory approvals, post-approval studies and, if necessary, initially supplying the product to Teva.
    • Eagle has submitted a New Drug Application (NDA) to the FDA for rapid infusion bendamustine for both indications and has requested Priority Review for both of the Orphan Drug-designated uses.
    • Under the terms of the agreement, Teva will waive its orphan drug exclusivities for NHL and CLL for EP-3102 to enable the product to come to market more quickly. Eagle will receive an upfront payment of $30M, up to $90M in future milestones and double-digit royalties on net sales.
    • The companies will also settle the pending patent infringement litigation between them regarding Teva's U.S. Patent No. 8,791,270.
  • Tue, Feb. 17, 8:40 AM
    • The FDA accepts for review the New Drug Application (NDA) from privately-held Canton, MA-based Collegium Pharmaceuticals for Xtampza ER, its abuse-deterrent extended-release oxycodone formulation for the treatment of chronic pain.
    • Its abuse-deterrent technology is called DETERx, which preserves the extended-release properties following common methods of tampering. It also avoids the use of antagonists (Pfizer's (NYSE:PFE) ALO-02 and Embeda) and aversive agents (Acura's (NASDAQ:ACUR) AVERSION), thereby minimizing the risks to legitimate patients.
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  • Tue, Feb. 17, 7:38 AM
    • The U.S. District Court for the District of New Jersey rules that AstraZeneca's (NYSE:AZN) patent No. 7,524,834 (the '834 patent) protecting Pulmicort Respules is invalid. The patent, set to expire in 2018 and with pediatric exclusivity extending into 2019, will allow Actavis (NYSE:ACT) to release its generic version of the product. Teva Pharmaceutical Industries (NYSE:TEVA) has marketed a generic formulation for some time per a previous agreement with AstraZeneca.
    • The court originally invalidated the '834 patent in April 2013 but the ruling was reversed and remanded in October 2013 by the U.S. Court of Appeals for the Federal Circuit.
    • The company says the decision will not impact its 2015 guidance. Pulmicort generated $269M in sales in Q4 and $946M over the past 12 months. EVP, North America Paul Hudson says, "AstraZeneca strongly disagrees with the Court's decision. [The Company] has full confidence in the strength of its intellectual property rights protecting Pulmicort Respules. We are reviewing the decision and considering our legal options, including an appeal."
    • Shares are down 1.5% premarket on light volume.
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  • Fri, Feb. 13, 11:22 AM
    • The FDA accepts for review Pfizer's (PFE -0.1%) New Drug Application (NDA) for ALO-02 (oxycodone hydrochloride and naltrexone hydrochloride) extended-release capsules for the management of pain severe enough to require daily, around-the-clock, long-term opioid treatment and for which alternative treatment options are inadequate.
    • ALO-02 incorporates abuse-deterrent technology. The capsules contain pellets consisting of the opioid, oxycodone, surrounding sequestered naltrexone hydrochloride, an opioid receptor antagonist. When used as directed, patients receive oxycodone in an extended release manner with no effect from the naltrexone. If the pellets are crushed in an attempt to misuse or abuse ALO-02, naltrexone is released, counteracting the effects of oxycodone.
    • Related tickers: (ZGNX +1.8%)(MNK +1.8%)(ACT +1.1%)(TEVA -0.6%)(ABBV +1%)(LCI -1%)(ALKS -3.7%)
  • Thu, Feb. 12, 11:37 AM
    • Teva Pharmaceutical Industries (TEVA +0.3%) initiates a $1B debt offering consisting of the following series of notes:
    • Priority 1: 6.15% Senior Notes due 2036; Priority 2: 3.65% Senior Notes due 2021; Priority 3: 2.95% Senior Notes due 2022 and 2.40% Senior Notes due 2016.
    • The offer will expire at 11:59 pm ET on March 12.
    • The company is selling the debt in order to lower its overall interest expense.
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  • Thu, Feb. 5, 3:23 PM
    • The resignation of prominent healthcare investor/entrepreneur Dr. Phillip Frost, M.D., from Teva Pharmaceutical Industries' (TEVA +1.8%) Board of Directors prompts aggressive buying from speculators who think a potential deal is afoot with Opko Health (OPK +4.6%). Teva is up on 50% higher volume while Opko's turnover is 3x average.
  • Thu, Feb. 5, 9:20 AM
    • Prominent healthcare investor and billionaire Dr. Philip Frost resigns from the Board of Directors of Teva Pharmaceutical Industries (NYSE:TEVA) effective February 4. He originally joined the Board in 2006 and served as Chairman from March 2010 until December 2014.
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  • Thu, Feb. 5, 7:58 AM
    • Teva Pharmaceutical Industries (NYSE:TEVA) Q4 results ($M): Total Revenues: 5,168 (-4.8%); Generic Medicine: 2,469 (-7.9%); Specialty Medicine: 2,243 (+1.3%); Other: 456 (-14.9%); U.S.: 2,808 (+0.8%); Europe: 1,387 (-13.3%); ROW: 973 (-6.8%).
    • COGS: 2,279 (-10.1%); R&D Expense: 379 (-7.8%); SG&A Expense: 1,006 (-11.1%); Net Income: 687 (+80.8%); EPS: 0.80 (+77.8%); CF Ops: 1,752 (+114.7%); Quick Assets: 2,226 (+114.5%).
    • Gross Profit: 2,889 (-0.2%); COGS: 44.1% (-5.6%); Gross Margin: 55.9% (+4.9%); Operating Earnings: 1,504 (+11.3%); Operating Earnings Yield: 29.1% (+17.0%); Net Earnings Yield: 13.3% (+90.0%).
    • Key Product Sales: Copaxone: 1,121 (-1.8%); Azilect: 108 (+10.2%); Nuvigil: 105 (+38.2%); Treanda: 226 (+27.7%); ProAir: 120 (+5.3%); Qvar: 77 (-13.5%); Women's Health: 115 (-9.4%).
  • Thu, Feb. 5, 7:03 AM
    • Teva Pharmaceutical (NYSE:TEVA): Q4 EPS of $1.31 in-line.
    • Revenue of $5.17B (-4.8% Y/Y) beats by $10M.
    • Shares +0.14% PM.
    • Press Release
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  • Sat, Jan. 31, 12:35 PM
    • The FDA approves Zogenix's (NASDAQ:ZGNX) Zohydro ER (hydrocodone bitartrate) Extended-Release Capsules, CII, with BeadTek, a formulation technology that provides abuse-deterrent features without changing the release properties of hydrocodone.
    • BeadTek incorporates pharmaceutical excipients that immediately form a viscous gel when crushed and dissolved in liquids or solvents.
    • The company intends to transition all Zohydro strengths to the BeadTek version in Q2. In H2, it expects to submit the results from its ongoing Human Abuse Liability Studies, which will further characterized the abuse-deterrent properties of the BeadTek formulation, to the FDA.
  • Mon, Jan. 26, 3:30 PM
    • The FDA approves the Abbreviated New Drug Application (ANDA) from Teva Pharmaceutical Industries (TEVA -1.8%) subsidiary Ivax Pharmaceuticals for a generic version of AstraZeneca's (AZN -0.2%) Nexium (esomeprazole magnesium delayed-release capsules). Esomeprazole is a proton pump inhibitor that reduces stomach acid.
    • The primary indication is the treatment of gastroesophageal reflux disease (GERD) in adults and children at least one year old. It is also cleared for the reduction in risk of gastric ulcers associated with the use of nonsteroidal anti-inflammatory drugs (NSAIDs), the treatment of stomach infection from Helicobactor pylori in conjunction with certain antibiotics and the treatment of conditions where the stomach produces excess acid, including Zollinger-Ellison syndrome.
    • It is the first generic esomeprazole to gain regulatory clearance in the U.S.
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  • Mon, Jan. 26, 8:33 AM
    • Antares Pharma (NASDAQ:ATRS) receives a Complete Response Letter (CRL) from the FDA regarding its Abbreviated New Drug Application (ANDA) for sumatriptan injection USP for the treatment of acute migraine. The CRL cited labeling revisions and minor deficiencies. The company intends to work closely with the agency to address the issues.
    • If approved, sumatriptan injection USP will be the company's first ANDA approval and the second device approved from the Vibex auto injector platform.
    • Teva Pharmaceutical Industries (NYSE:TEVA) will distribute the product.
  • Tue, Jan. 20, 10:25 AM
    • The U.S. Supreme Court votes 7 - 2 in favor of Teva Pharmaceutical Industries (TEVA +1.9%) in its fight with generic drug makers over a Copaxone (glatiramer acetate injection) patent. The justices stated that the U.S. Court of Appeals for the Federal Circuit did not use the correct approach in analyzing whether the patent in question, due to expire in September, was valid.
    • Previously: Teva due to appear in Supreme Court over Copaxone patent (Oct. 15, 2014)
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  • Thu, Jan. 15, 1:53 PM
    • Teva Pharmaceutical Industries (TEVA +1.4%) will report Q4 and full-year results on February 5 before the open. The conference call will begin at 8:00 am ET.
    • Consensus views for Q4 and 2014 are EPS of $1.31 and $5.07 on revenues of $5.2B and $20.3B, respectively.
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Company Description
Teva Pharmaceutical Industries Ltd develops, produces and markets generic, branded & OTC medicines. Some of its products are Copaxone, Azilect & Provigil.
Sector: Healthcare
Country: Israel