Leader analyst Yoav Burgan: Investors who try to predict the outcome of the Protonix dispute with Wyeth are speculating.
Analysts at Israeli investment houses in Israel are divided as to the outcome of Teva Pharmaceutical Industries Ltd.'s (Nasdaq: TEVA; TASE: TEVA) bid to launch a generic version of Wyeth's (NYSE: WYE) ethical drug Protonix for the treatment of gastro esophageal reflux disease (GERD). On Friday, the US District Court for the District of New Jersey denied a motion filed by Wyeth for a preliminary injunction related to Teva's generic version of Protonix. Teva said that it would thoroughly study the decision before deciding upon its next course of action.
Yesterday IBI Investment House analyst Noa Weisberg said she believed that the legal dispute between Teva and Wyeth over Protonix may end in a compromise. Leader Capital Markets analyst Yoav Burgan feels, on other hand, that investors who try to predict the outcome of the Protonix dispute with Wyeth are speculating. He advises them to wait until September 12, when the court's decision will be published in full, since only then will it be possible to assess whether or not Teva will have the "guts" to make an "at risk launch."
Published by Globes [online], Israel business news - www.globes.co.il - on September 10, 2007
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