Bernstein Research thinks peak sales for Azilect will be far lower than Teva's own estimates.
Bernstein Research analyst Dr. Aaron (Ronny) Gal forecasts thatTeva Pharmaceutical Industries Ltd. (Nasdaq:TEVA; TASE:TEVA) ethical drug Azilect for the treatment of Parkinson's disease will be a profitable product. But while Teva expects peak sales for the drug to reach $1 billion annually, Gal sees peaks sales as only reaching $450 million.
Gal met last week with Teva CFO Eyal Deshe and chief R&D officer Ben Zion Weiner.
Global sales of Azilect in the third quarter of 2008 reached $46 million, a 38% increase compared with the corresponding quarter in 2007. Azilect's patent will likely extend to 2017.
Bernstein Research kept its recommendation for Teva's share at its target price of $52.
Published by Globes [online], Israel business news - www.globes-online.com - on January 4, 2009
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