Company Update (NYSE:TEVA): Teva Pharmaceutical Industries Ltd (ADR) Announces Relaunch of Generic Depo-Provera in the US


Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA) announced the reintroduction of the generic equivalent to Depo-Provera®1 Contraceptive Injection (medroxyprogesterone acetate injectable suspension, USP) 150 mg/mL, in the United States. Medroxyprogesterone acetate injectable suspension is a progestin indicated only for the prevention of pregnancy.

“This reintroduction brings an additional product to a market that was previously lacking in options,” said Dr. Hafrun Fridriksdottir, Executive Vice President, President of Global Generics R&D. “In addition to its importance to patients who will benefit from access to this medicine, this reintroduction holds significant importance to Teva and our generics R&D priorities.”

Teva has been committed to strengthening its generic injectable business globally, by making continued investment in newer, higher-value generic injectable products. With nearly 600 generic medicines available, Teva has the largest portfolio of FDA-approved generic products on the marketand 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.

Medroxyprogesterone acetate injectable suspension, USP 150 mg/mL had annual sales of approximately $211 million in the United States, according to IMS data as of July 2017.

Shares of Teva Pharmaceutical are currently trading at $17.10, down $0.09 or -0.49%. TEVA has a 1-year high of $51.15 and a 1-year low of $15.22. The stock’s 50-day moving average is $17.02 and its 200-day moving average is $27.86.

On the ratings front, TEVA has been the subject of a number of recent research reports. In a report issued on September 18, Cantor analyst Louise Chen assigned a Hold rating on TEVA, with a price target of $17, which represents a slight downside potential from current levels. Separately, on the same day, Maxim Group’s Gabrielle Zhou assigned a Hold rating to the stock .

According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Louise Chen and Gabrielle Zhou have a yearly average loss of -9.2% and a return of 26.1% respectively. Chen has a success rate of 41% and is ranked #4536 out of 4653 analysts, while Zhou has a success rate of 59% and is ranked #275.

Overall, 3 research analysts have rated the stock with a Sell rating, 12 research analysts have assigned a Hold rating and 2 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 $22.27 which is 29% above where the stock opened today.

Teva Pharmaceutical Industries Ltd. engages in the provision of pharmaceutical services. It operates through the following two segments: Generic and Specialty Medicine. The Generic 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 includes several franchises, most significantly core therapeutic areas of CNS medicines. 

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