Analyst doubts Teva's Azilect estimates

Bernstein Research thinks peak sales for Azilect will be far lower than Teva's own estimates.

Bernstein Research analyst Dr. Aaron (Ronny) Gal forecasts thatTeva Pharmaceutical Industries Ltd. (Nasdaq:TEVA; TASE:TEVA) ethical drug Azilect for the treatment of Parkinson's disease will be a profitable product. But while Teva expects peak sales for the drug to reach $1 billion annually, Gal sees peaks sales as only reaching $450 million.

Gal met last week with Teva CFO Eyal Deshe and chief R&D officer Ben Zion Weiner.

Global sales of Azilect in the third quarter of 2008 reached $46 million, a 38% increase compared with the corresponding quarter in 2007. Azilect's patent will likely extend to 2017.

Bernstein Research kept its recommendation for Teva's share at its target price of $52.

Published by Globes [online], Israel business news - - on January 4, 2009

© Copyright of Globes Publisher Itonut (1983) Ltd. 2009

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