UBS: Teva again raises Copaxone prices

Copaxone
Copaxone

UBS reports that Teva has increased the price of Copaxone 20mg by 9.9% and Copaxone 40mg by 7.9%.

In UBS's US pharmaceutical weekly pricing update, analyst Marc Goodman, notes that Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) has raised the price of multiple sclerosis treatment Copaxone. UBS notes that Teva has increased the price of Copaxone 20mg by 9.9% and Copaxone 40mg by 7.9% as of January 1 2015. Teva raised the price of Copaxone by 9.9% at the end of August 2014, having previously raised the price in 2012-2013.

The patent for 20mg Copaxone expired in May 2014 but to date a generic version of the drug has not yet been launched due to ongoing legal proceedings on the matter and the fact that the US Food and Drug Administration (FDA) has yet to approve a generic version. The delay in the launch of any generic versions is providing more time for Teva to transfer patients to the 40mg dosage.

In the first three quarters of 2014, Copaxone sales of both dosages reached $3.1 billion and the overall sales forecast for 2015 is $3.5-3.7 billion, on the assumption that two generic versions of the multiple sclerosis treatment will be launched in September 2015. Teva's forecast for 2015 sees a gross profit margin of 89-90% - $2.6-2.8 billion.

The earlier entry of a generic version of Copaxone will reduce Teva's operating profit by $35-50 million a month.

Published by Globes [online], Israel business news - www.globes-online.com - on January 4, 2015

© Copyright of Globes Publisher Itonut (1983) Ltd. 2015

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