As previously reported, JPMorgan analyst Chris Schott downgraded Valeant (VRX) to Neutral from Overweight as he sees a number of near-term uncertainties around its core business trends outweighing the attractive sum-of-the-parts valuation. Schott does not see a clear path to re-acceleration for Xifaxan, which he believes is a key growth driver for the company, he added. In the same note, Schott said he continues to favor large cap, diversified names, such as Allergan (AGN), Teva (TEVA) and Mylan (MYL) in the specialty pharma space, with Allergan being his top pick in the space.

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."