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TEVA vs. ETF Alternatives
Tuesday, Dec 102013, 9:14 AM
Tuesday, Dec 102013, 9:14 AM| 2 Comments
- Teva Pharmaceutical (TEVA) is out with guidance for FY14.
- In a move designed to "enhance investor understanding of the business performance of the company, and to provide more clarity and transparency," TEVA is presenting two alternative scenarios: One assumes generic competition for Copaxone and the other does not.
- FY14 outlook w/generic: EPS of $4.20-4.50 on sales of $19.3-20.3B.
- FY14 outlook without generic: EPS of $4.80-5.10 on sales of $19.8-20.8B. (PR)
Wednesday, Dec 42013, 10:57 AM
Wednesday, Dec 42013, 10:57 AM| Comment!
- Teva (TEVA -0.4%) is betting its new therapeutic entities business (comprising "reformulated or repurposed" existing drugs) will generate as much as $3B in sales by 2020, Bloomberg reports.
- The company is hoping the NTE business will go some ways towards offsetting lost revenue once Copaxone loses exclusivity.
- While TEVA says it "believes that the NTE process will be an important growth driver," Bloomberg says some analysts (like Bernstein's Ronny Gal) aren't so sure.
- Based on the pipeline, NTEs will include new abuse-deterrent opioids and treatments for schizophrenia and Parkinson’s.
Wednesday, Nov 272013, 1:46 PM
Wednesday, Nov 272013, 1:46 PM| Comment!
- Teva (TEVA -0.5%) gets an Orphan designation for Treanda in indolent B-cell non-Hodgkin lymphoma.
- TEVA also has six months of pediatric exclusivity for the drug.
- Summary of exclusivity for two indications: In iNHL, through April 2016; in CLL, through September 20, 2015. (PR)
- YTD U.S. sales (through Q3): $531M. Sales growth in Q3: +15%.
- Here's FierceBiotech's Eric Palmer on the impact of the news: "...extra sales of the orphan drug will not go very far toward offsetting the revenue hit TEVA will take when Copaxone goes off patent next year."
- See also: TEVA slams Copaxone sales forecast report.
Monday, Nov 252013, 4:49 AM
Monday, Nov 252013, 4:49 AM| Comment!
- Teva (TEVA) has downplayed a report that it expects profits from its multiple sclerosis treatment Copaxone will drop by 42% in 2014.
- Teva said a report in Israeli publication The Marker that provided forecasts for 2013-2018 "appears to be from an outdated presentation, is incomplete and does not reflect our full analysis."
- Teva intends to provide its 2014 outlook next month.
- Shares are -0.1% premarket.(PR)
Wednesday, Nov 202013, 3:15 PM
Wednesday, Nov 202013, 3:15 PM| 7 Comments
- Shares of Teva (TEVA +3.7%) are trading notably higher on the session.
- Helping the cause is Susquehanna, where analysts have upgraded the stock to Positive from Neutral.
- Price target is now $50 (from $43).
- Meanwhile, the rumor mill is alive with talk of a possible merger with either Mylan (MYL +0.8%) or Valeant (VRX +0.1%).
- "People are looking for the company to do something,” an S&P analyst quoted by Bloomberg says.
Monday, Nov 182013, 11:33 AM
Monday, Nov 182013, 11:33 AM| Comment!
- Teva (TEVA -0.6%) is out with an oncology portfolio update.
- Highlights: Lonquex was launched in Germany on November 4, Granix was launched in the U.S. on November 11, and the BLA for balugrastim has been withdrawn "pending the provision of additional confirmatory data." (PR)
- Although Goldman's Terence Flynn didn't "see balugrastim as a significant competitive threat to [Neulasta]," the analyst notes that "many investors did," and therefore, TEVA's move to pull the leukocyte growth factor from the FDA review process "removes a near-term competitive threat" for an Amgen (AMGN +1.9%) and also lifts "an overhang on shares heading into 2014."
- Goldman maintains a CL-Buy on AMGN.
- Price target is $140.
Thursday, Nov 142013, 4:31 PM
Monday, Nov 112013, 11:45 AM
Monday, Nov 112013, 11:45 AM| Comment!
- Teva Pharmaceutical (TEVA -0.5%) reaches an agreement to pay the State of Israel some $718M "for the release of trapped profits, settling tax assessments for the years 2005-2007, and applying similar principles through 2011."
- TEVA will take a charge of $235M in Q4.
- The deal "generates sources for dividends to shareholders ... and settles tax assessments which had been in dispute for a long time," the company says. (PR)
Friday, Nov 82013, 10:09 AM
Friday, Nov 82013, 10:09 AM| 2 Comments
- The risk-reward profile of Sanofi's (SNY -0.8%) MS treatment Lemtrada may not warrant approval, FDA staff says.
- Risks reportedly include "lifelong hypothyroidism, serious infusion reactions, melanoma and other malignancies, Graves’s ophthalmopathy and other autoimmune disorders, and prolonged increased susceptibility to infection." (full report)
- An Ad Com will take up the issue next Wednesday. The drug is approved in Europe.
- Down 70% on the news: CVRs ((GCVRZ)) on the drug.
- Competing relapsing MS treatments: Tecfidera and Tysabri (BIIB +1.1%) and Copaxone (TEVA +0.3%).
- For more, follow the discussion here on SA.
Tuesday, Nov 52013, 1:19 PM
Tuesday, Nov 52013, 1:19 PM| 1 Comment
- In an effort to avoid what it says will be "irreparable harm," Teva (TEVA -0.1%) has asked the U.S. Supreme Court to stay a lower court's ruling that would pave the way for generic Copaxone in early 2014.
- TEVA is prepping an appeal but wants a stay imposed in the mean time.
- Despite CEO problems and a political outcry tied to planned job cuts, some (like Barron's and Citi) think investors should look beyond the company's current problems and focus instead on the longer-term outlook.
Monday, Nov 42013, 9:45 AM
Monday, Nov 42013, 9:45 AM| Comment!
- Cell Therapeutics (CTIC +8.3%) initiated at Buy at Wainwright. Price target is $4.
- Evoke Pharma (EVOK +2.1%) initiated at Buy at Cantor. Price target is $19.
- MacroGenics (MGNX +0.8%) initiated at Leerink and BofA at Outperform and Neutral respectively. Price targets are $34 and $30.
- AstraZeneca (AZN +0.1%) cut to Neutral from Buy at UBS.
- WellCare Health Plans (WCG -0.6%) cut to Neutral from Buy at Monness Crespi.
- Teva (TEVA -0.9%) cut to Underweight from Neutral at JPMorgan. Price target to $38 from $43.
Friday, Nov 12013, 4:12 PM
Friday, Nov 12013, 4:12 PM| 1 Comment
- Universal Health Services (UHS) price target hiked to $70 from $75 on better-than-expected results from the company's acute care unit. (Q3 results)
- Acadia Healthcare (ACHC) price target raised to $47 (from $40) representing 29.5x analyst Jennifer Lynch's 2014 EPS estimate of $1.59.
- Teva (TEVA) price target cut to $44 from $49. Here's analyst David Maris on the CEO resignation: "Teva hosted a conference call where the chairman tried to calm investor fears with statements to the effect that ‘things have never looked better' and ‘if not for the black out period, I'd be tempted to buy the stock. With the stock ... having underperformed the S&P for the past one, three, and five years, many investors would argue the point and take him up on the offer.”
Thursday, Oct 312013, 8:52 AM
Thursday, Oct 312013, 8:52 AM| 2 Comments
- Teva Pharmaceutical (TEVA) manages to beat estimates for Q3 despite controversy over proposed job cuts and the CEO shakeup.
- Revenue for the period prints at $5.1B, up 2% Y/Y.
- Revenue growth by region: U.S., +4%; Europe, +4%; ROW, -8%.
- Global Copaxone sales rise 1% (flat ex-currency impact and -6% outside the U.S.).
- Revenue growth by product: Azilect, +21%; Nuvigil, -7%; Provigil, -58%; Treanda, +15%; ProAir, +3%; Qvar, +11%; Women's Health, +31%.
- Acting CEO Eyal Desheh says TEVA remains "committed to executing [the company's] strategy and diligently implementing changes [that] will ensure the growth of [the] business." (PR)
Thursday, Oct 312013, 8:32 AM
Wednesday, Oct 302013, 10:51 AM
Wednesday, Oct 302013, 10:51 AM| 2 Comments
- "We view this news as a significant setback ... as the company's recently implemented strategy to [get] back on a growth path, including recent accelerated cost reduction initiatives, could be called into question," Goldman's Jami Rubin says, regarding the resignation of Teva (TEVA -6.2%) chief Jeremy Levin.
- Rubin also says that "while investors have rewarded the heightened deal activity in the generic drug industry ... TEVA has not been moving quickly or aggressively enough to create shareholder value." This is reminiscent of Rubin's rationale for downgrading the shares back in July.
- Sell rating maintained.
- Price target is $40.
Wednesday, Oct 302013, 9:13 AM
- View all 2 replies
Marc Gilbert:: Maybe tired owners dumping shares after the recent run-up.