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The US Supreme Court has agreed to hear an appeal by Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) over the expiry of its patents for Copaxone, its treatment for multiple sclerosis. The hearing could delay the expiration of the drug’s US patents until September 2015. They patents are due to expire in May.
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A delay in the launch of generic Copaxone would be a windfall for Teva. In its guidance in December 2013, the company forecasts an operating profit of $4.8-5.1 billion and earnings per share of $4.50-4.80 on $19.3-20.3 billion revenue if generic Copaxone is launched this year. Its forecasts an operating profit of $5.35-5.65 billion and earnings per share of $4.80-5.10 on $19.8-20.8 billion revenue if there is no generic launch.
Earlier in March, Dutch drug company Syththon BV announced a successful Phase III clinical trial of glatiramer acetate, to test its equivalence to Copaxone.
Published by Globes [online], Israel business news – www.globes-online.com
