Credit Suisse: Mylan holds 10% Copaxone market share

Copaxone

Credit Suisse believes another generic version of Teva's blockbuster multiple sclerosis drug will be launched soon, pushing prices further down.

Even though Mylan N.V. (Nasdaq: MYL; TASE: MYL) only launched its generic version of 40mg Copaxone at the beginning of October, Credit Suisse found that it has already gained a 10% market share of prescriptions for the multiple sclerosis treatment. Credit Suisse believes that another generic version of 20mg Copaxone will be launched soon and there will be a major fall in prices. Credit Suisse also observes that the fact that Mylan has set up a patient support program for Copaxone demonstrates the company's commitment to the launch and achieving a major market share.

All this is bad news for Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA), which cut its guidance for 2017 following the unexpectedly early launch of Copaxone by Mylan.

Teva's revenue from Copaxone in the first half of 2017 totaled $2.1 billion, 76% of which was from the US market. Teva's profit from the drug amounted to $1.57 billion.

Even so Teva's current share price and market cap are 2% higher than when Mylan announced the launch of generic Copaxone at the start of October.

Published by Globes [online], Israel business news - www.globes-online.com - on January 4, 2018

© Copyright of Globes Publisher Itonut (1983) Ltd. 2018

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