BMO Capital downgraded Teva (TEVA) to Market Perform from Outperform after the company bid $82, to be paid equally in cash and stock, for Mylan (MYL), as the firm views the proposed deal as "neither bold nor compelling" The firm thinks the deal is largely driven by a goal to be the largest, rather than the best, generics drugmaker and BMO believe the integration process would be hard for the companies. The firm also thinks the final outcome and price to be paid after a merger negotiation is uncertain and depends on how hard Mylan will fight. BMO simultaneously upgraded Mylan to Market Perform from Underperform after Teva came forward with its bid.

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."