Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) raised the price of its multiple sclerosis treatment Copaxone by 14.9% on January 3, states Morgan Stanley in a report on the specialty pharmaceutical industry. Teva also raised the list price of Azilect, for the treatment of Parkinson's disease, by 6%.
Copaxone is maintaining its US market share, accounting for over 35% of new prescriptions, and 40% of total prescriptions, despite the launch of Gilenya, an oral treatment made by Novartis AG (NYSE:NVS; LSE: NOV; SWX: NOVZ), in late 2010. Copaxone sales total $3.8 billion a year and reportedly account for a third to half of Teva's total profit.
Teva investors have been worried about possible generic versions of Copaxone, as well as the introduction of oral treatments for multiple sclerosis. However, the price hike suggests that Teva feels safe about its competitive position.
Published by Globes [online], Israel business news - www.globes-online.com - on January 4, 2012
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