Atazanavir sulfate capsules are a protease inhibitor indicated for use in combination with other antiretroviral agents for the treatment of HIV-1 infection for patients 6 years and older weighing at least 15 kg.
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“The exclusive launch of our generic version of Reyataz marks our fifth generic product offering for the treatment of HIV-1 infection,” said Brendan O’Grady, Executive Vice President, North America Commercial at Teva. “Antiviral medications continue to be a focus for Teva Generics, and this is an important addition to our portfolio.”
With nearly 600 generic medicines available, Teva has the largest portfolio of FDA-approved generic products on the market and holds the leading position in first-to-file opportunities, with over 100 pending first-to-files in the U.S. Currently, one in seven generic prescriptions dispensed in the U.S. is filled with a Teva generic product.
Reyataz had annual sales of approximately $402 million in the U.S., according to IMS data as of October 2017.
Shares of Teva Pharmaceutical are trading up 0.05% to $18.93 in pre-market trading Wednesday, or up $0.01. TEVA has a 1-year high of $38.31 and a 1-year low of $10.85. The stock’s 50-day moving average is $14.94 and its 200-day moving average is $20.17.
On the ratings front, Teva has been the subject of a number of recent research reports. In a report issued on December 22, Cantor Fitzgerald analyst Louise Chen maintained a Hold rating on TEVA, with a price target of $18, which represents a slight downside potential from current levels. Separately, on December 18, UBS’s Marc Goodman maintained a Hold rating on the stock and has a price target of $20.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Louise Chen and Marc Goodman have a yearly average loss of -6.9% and a return of 1.0% respectively. Chen has a success rate of 41% and is ranked #4588 out of 4726 analysts, while Goodman has a success rate of 48% and is ranked #2412.
Overall, 2 research analysts have rated the stock with a Sell rating, 14 research analysts have assigned a Hold rating and 4 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 $18.44 which is -2.5% under where the stock closed yesterday.
Teva Pharmaceutical Industries Ltd. is a global pharmaceutical company, which provides patient-centric healthcare solutions. It operates through two segments: Generic Medicines and Specialty Medicines. The Generic Medicines segment includes chemical and therapeutic equivalents of originator medicines in a variety of dosage forms, including tablets, capsules, injectables, inhalants, liquids, ointments and creams. The Specialty Medicine segment engages in the provision of core therapeutic areas of central nervous system medicines.