Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA) announced the launch of generic Axiron®1 (testosterone) topical solution CIII, 30 mg/1.5 mL, in the U.S.
Testosterone topical solution CIII is a prescription medicine used to treat adult males who have low or no testosterone due to certain medical conditions. It is supplied in a metered dose pump with an underarm applicator.
“We are pleased with the result in the district court, which has helped Teva add yet another product to our industry-leading generic portfolio, providing savings to our customers and to patients,” said Andy Boyer, Teva’s President and CEO, Global Generic Medicines, North America. “Teva continues to lead the industry in bringing new generic products to the U.S. market.”
Teva is committed to strengthening its generics business through continued investment in complex, high-quality products. With nearly 600 generic medicines available, Teva has the largest portfolio ofFDA-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 six generic prescriptions dispensed in the U.S. is filled with a Teva product.
Axiron® had annual sales of approximately $247 million in the U.S., according to IMS data as of May 2017.
Shares of Teva Pharmaceutical are currently trading at $17.28, up $0.18 or 1.05%. TEVA has a 1-year high of $53.96 and a 1-year low of $16.81. The stock’s 50-day moving average is $27.91 and its 200-day moving average is $31.10.
On the ratings front, Teva has been the subject of a number of recent research reports. In a report issued on August 16, Citigroup analyst Liav Abraham downgraded TEVA to Hold. On August 8, Berenberg Bank’s Alistair Campbell assigned a Hold rating to the stock and has a price target of $26.50.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Liav Abraham and Alistair Campbell have a yearly average return of 9.2% and 9.5% respectively. Abraham has a success rate of 52% and is ranked #1084 out of 4614 analysts, while Campbell has a success rate of 67% and is ranked #1583.
Overall, 2 research analysts have rated the stock with a Sell rating, 13 research analysts have assigned a Hold rating and . When considering if perhaps the stock is under or overvalued, the average price target is $28.17 which is 64.4% 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.