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TEVA

Teva

$45.19

-0.07 (-0.15%)

08:01
10/06/16
10/06
08:01
10/06/16
08:01

Teva, Celltrion announce exclusive biosimilar commercial relationship

Teva Pharmaceutical, Celltrion, Inc. and Celltrion Healthcare announce that the companies have entered into an exclusive partnership to commercialize two of Celltrion's mAb biosimilar candidates in the U.S. and Canada. CT-P10 is a proposed mAb biosimilar to Rituxan, which is used to treat patients with Non-Hodgkin's Lymphoma, Chronic Lymphocytic Leukemia, Rheumatoid Arthritis, Wegener's Granulomatosis and Microscopic Polyangiitis. CT-P6 is a proposed mAb biosimilar to Herceptin, which is used for the treatment of HER2-overexpressing breast cancer and for the treatment of HER2-overexpressing metastatic gastric or gastroesophageal junction adenocarcinoma. Combined annual net sales for Rituxan and Herceptin are approximately $6.5B in the U.S. and Canada. Both CT-P10 and CT-P6 are currently in late-stage Phase III development and their primary endpoints have been successfully achieved. CT-P10 was submitted by Celltrion to the European Medicines Agency for review in October 2015. In the meantime, Celltrion is preparing CT-P6 for submission in Europe seeking approval from the EMA this quarter. As part of the agreement, Teva will be responsible for all commercial activities in the U.S. and Canada, pending regulatory approvals for both products. Celltrion has responsibility for completing all clinical development and regulatory activities. Under the terms of the agreement, Teva will pay Celltrion Healthcare $160M upfront of which up to $60M is refundable or creditable under certain circumstances. Teva and Celltrion Healthcare will share profit from the commercialization of the mAb biosimilars.

  • 06

    Nov

  • 15

    Nov

TEVA Teva
$45.19

-0.07 (-0.15%)

09/23/16
LEER
09/23/16
NO CHANGE
LEER
Outperform
Positive data paves way for Teva SD-809 indication, says Leerink
Leerink analyst Jason Gerberry says the AIM-TD study readout clinically de-risks Teva's (TEVA) SD-809 opportunity for tardive dyskinesia, with the investor focus shifting to market size and competitive differentiation versus Neurocrine's (NBIX) valbenazine. The analyst believes Teva's SD-809 is well positioned to compete against valbenazine with an equally efficacious and well tolerated drug. Further, he expects Teva to exit 2017 with a broader label. Gerberry reiterates an Outperform rating on Teva's shares.
09/29/16
OTRG
09/29/16
INITIATION
OTRG
Positive
Teva initiated with a Positive at OTR Global
10/03/16
WELS
10/03/16
NO CHANGE
WELS
Outperform
Teva shares suffering from lack of catalysts, says Wells Fargo
Wells Fargo analyst David Maris attributes the continued slide in Teva (TEVA) shares largely to negative sector news such as the drug pricing debate, fears on generic pricing, and Mylan's (MYL) EpiPen issue, but also thinks the slide has been made worse by Teva's lack of near-term catalysts. Additionally, the ongoing Copaxone generic trial and Teva's recently filed suit against Rimsa's founders over allegedly being misled by the Mexican pharmaceutical company have added to the pressure, Maris noted. Maris acknowledges there may be "no notable catalysts" for the rest of the year for Teva, but he thinks it should be a "robust 2017" for the company and keeps an Outperform rating on the shares.
10/05/16
WELS
10/05/16
NO CHANGE
WELS
Outperform
Teva estimates lowered on generic trends at Wells Fargo
Wells Fargo analyst David Maris lowered his estimates for Teva (TEVA) for this year and next, citing expectations for lower generic sales this year and lower margins in the generic business. Maris lowered his price target range for Teva shares to $60-$61 from $70-73 based on his lower estimates as well as the uncertainty of the environment, but keeps an Outperform rating on shares citing valuation and his belief 2017 should be a better year with several pipeline events for Teva.

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