Due to generic competition for the Copaxone treatment, the best-selling multiple sclerosis treatment of Teva, and unfavorable foreign exchange moves, Teva Pharmaceutical Industries forecast their revenue for the year 2015 below the anticipation of analysts.
Teva is known to be the biggest maker of drugs in the whole world. Its MS drug Copaxone is the company’s most lucrative product ever. In fact, Copaxone accounts for 20 percent of Teva’s sales and about 50 percent of the company’s profit. This means that most of their revenue is definitely coming from the sales of this multiple sclerosis drug.
According to the Israel-based Teva, they are anticipating two more generic competitors coming from the United States this month of September 2015. The company also stated that the early entries of these generic brands of drug for multiple sclerosis treatment can reduce their all in all operating income by $30 million to $50 million every single month. This means, the company will lose a lot.
The two teams that are currently developing the much cheaper forms of multiple sclerosis drug are the team up of Natco Pharma Ltd and Mylan Inc and the team up of Momenta Pharmaceuticals Inc and Sandoz Inc of Novartis AG.