Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA) announces the launch of the generic equivalent to Actonel® (risedronate sodium) Tablets, 5 mg, 30 mg, and 35 mg, in the United States. Teva was first to file, making the product eligible for 180 days of market exclusivity. Risedronate sodium tablets are used to treat or prevent osteoporosis in women after menopause. Risedronate sodium tablets help increase bone mass and help reduce the chance of having a spinal or non-spinal fracture (break). Risedronate sodium tablets are also used to treat or prevent osteoporosis in either men or women who are taking corticosteroid medicines, and to treat Paget’s disease of the bone.
Risedronate sodium tablets, USP are the second approved product to treat osteoporosis in Teva’s generic portfolio. Approximately 54 million Americans have low bone mass and osteoporosis, a condition that causes the bones to become weak and brittle. Anyone can develop osteoporosis but studies suggest it is most common in older women and patients taking specific medications. As a leading global pharmaceutical company, Teva is committed to care in women’s health and bringing to market high-quality, accessible generic medicines for doctors, pharmacists, and most importantly, patients.
Actonel® (risedronate sodium) Tablets marketed by Actavis had annual sales of approximately $157 million in the United States, according to IMS data as of December 2014. (Original Source)
Shares of Teva opened today at $60.37 and are currently trading down at $60.26. TEVA has a 1-year high of $68.75 and a 1-year low of $47.36. The stock’s 50-day moving average is $61.72 and its 200-day moving average is $58.71.
On the ratings front, Teva has been the subject of a number of recent research reports. In a report issued on May 19, Deutsche Bank analyst Gregg Gilbert maintained a Buy rating on TEVA, with a price target of $73, which represents a potential upside of 20.9% from where the stock is currently trading. Separately, on April 30, Oppenheimer’s Akiva Felt maintained a Buy rating on the stock and has a price target of $77.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Gregg Gilbert and Akiva Felt have a total average return of 21.8% and 34.8% respectively. Gilbert has a success rate of 81.3% and is ranked #182 out of 3610 analysts, while Felt has a success rate of 63.5% and is ranked #31.
In total, one research analyst has assigned a Hold rating and 7 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $73.00 which is 20.9% above where the stock opened today.
Teva Pharmaceutical Industries Ltd develops, produces and markets generic, branded & OTC medicines. Some of its products are Copaxone, Azilect & Provigil.