Teva Pharmaceutical Industries Limited (TEVA) Launches Generic Version of ALOXI


Teva Pharmaceutical Industries Limited (NYSE:TEVA) announced the launch of a generic version of ALOXI®1 (palonosetron HCI) injection, 0.25 mg/5 mL, in the United States.

Palonosetron hydrochloride injection—in a class of medications called 5-HT3 receptor antagonists—is used in adults to prevent nausea and vomiting that may occur as a result of receiving cancer chemotherapy with a moderate or high risk of causing nausea and vomiting. It is also given to prevent nausea and vomiting up to 24 hours after surgery.

“The shared-exclusive launch of palonosetron HCI injection marks the eleventh injectable launch over the past year for our generics business,” said Brendan O’Grady, Executive Vice President and head of North America Commercial at Teva. “More importantly, we can now provide an affordable treatment option for cancer patients faced with challenging post-chemotherapy side effects.”

Teva has been committed to strengthening the generic injectable business globally with 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 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.

ALOXI® (palonosetron HCI) injection had annual sales of approximately $459 million in the United States, according to IMS data as of November 2017.

Analyst Ratings

On the ratings front, Teva stock has been the subject of a number of recent research reports. In a report issued on March 20, Jefferies analyst David Steinberg reiterated a Hold rating on TEVA, with a price target of $19, which implies an upside of 10% from current levels. Separately, on March 13, Guggenheim’s Rohit Vanjani reiterated a Hold rating on the stock.

According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, David Steinberg and Rohit Vanjani have a yearly average return of 13.3% and 11% respectively. Steinberg has a success rate of 50% and is ranked #379 out of 4762 analysts, while Vanjani has a success rate of 51% and is ranked #658.

Sentiment on the street is mostly neutral on TEVA stock. Out of 18 analysts who cover the stock, 9 suggest a Hold rating, 5 suggest a Buy and 4 recommend to Sell the stock. The 12-month average price target assigned to the stock is $19.36, which represents a potential upside of 12% from where the stock is currently trading.