Following media speculation that Teva (TEVA) could improve its offer for Mylan (MYL) ahead of the latter's shareholder vote on its proposed takeover of Perrigo (PRGO), Deutsche Bank estimated that Teva could pay as much as about $98 per share for Mylan and still have a deal be accretive. The firm noted that Teva has indicated it will try to make the deal as "shareholder friendly" as possible and Deutsche believes its makes sense for Teva to put forth is best possible offer sooner rather than later. The firm keeps a Buy rating and $73 price target on Teva on a standalone basis, but adds that a deal for Mylan could be materially accretive to its estimates and target.

Teva Pharmaceuticals announced final results from the HD cohort of the Phase 4 START study, demonstrating positive real-world effectiveness, safety, adherence and satisfaction with the 4-week Titration Kit for AUSTEDO. As a fatal, neurodegenerative disease, HD can cause cognitive deterioration, behavioral and/or psychological problems and uncontrollable body movements known as chorea - a symptom that can have a significant impact on daily activities like eating or talking.3-5 These data are being presented at the 2024 American Academy of Neurology AAN Annual Meeting. "90% of HD patients experience chorea,3,4 so it's important for patients to have a treatment option that not only helps address symptoms, but helps provide a positive patient experience," said Eric Hughes, MD, PhD, Executive Vice President of Global R&D and Chief Medical Officer at Teva. "We remain committed to exploring ways to evolve the AUSTEDO treatment experience to meet the needs of the HD community, and these latest real-world data reinforce the role of the 4-week Titration Kit for AUSTEDO in empowering patients with HD chorea to find their optimal dose, adhere consistently to their treatment plan, and achieve effective outcomes."