Pharmaceutical Stock Watch – Why TEVA is One to Watch

Posted by on Sep 08, 2010 | No comment

Teva Pharmaceutical Industries Limited (NASDAQ: TEVA) develops, manufactures and markets generic and innovative pharmaceuticals and active pharmaceutical ingredients. The company today announced the publication of results from an observational study of the General Practice Research Database (GPRD), which discovered that asthma patients treated with QVAR® (beclomethasone dipropionate HFA), as an initial therapy or with a step up in dose, had the same or better chances of achieving asthma control as patients who were treated with fluticasone propionate (Flovent®).

The benefit offered though QVAR was the lower dose at witch asthma control was achieved. The results were published in the September issue of the Journal of Allergy and Clinical Immunology (JACI) and are available at www.jacionline.org/inpress.

“The results of Teva’s most recent study using the GPRD database reinforce the effectiveness of ICS monotherapy in achieving asthma control for most patients who either initiate ICS therapy or who are already on an ICS and need a step up in dose,” Paul Dorinsky, MD, vice president of Teva Global Respiratory Research and Development stated in the press release. “In fact, over 85% of the study patients achieved the primary measure of asthma control as defined by the study. The GPRD findings are timely given the recent FDA guidance advocating limited use of products containing long-acting beta-agonists (LABAs), including LABA-plus-ICS combination products, while recommending more aggressive treatment with monotherapy ICS agents. We are also encouraged that patients in the initiation population of the study treated with QVAR achieved better asthma control at lower prescribed doses of drug, as a key goal of asthma management is to use the lowest dose needed to achieve overall asthma control and prevent exacerbations. In the step up population, patients receiving QVAR had a similar chance of achieving asthma control at lower prescribed doses than with Flovent. In both populations, the rate of exacerbations was not significantly different between the QVAR and Flovent patient groups.”

The news gave TEVA share quite a boost today propelling shares up nearly a dollar, trailing a more than a $1.50 climb during yesterdays’ trading. Wednesday’s volume was slightly depressed after yesterday’s climb but shows a continued bullish streak that started at around $51.50 per share and has pushed TEVA stock all the way to a high of $54.51 per share.

The initial push came as news spread that TEVA had won a ruling in its battle to protect its top-selling multiple sclerosis drug Copaxone from generic rivals. The U.S. District Court for the Southern District of New York denied a motion for summary judgment filed by Novartis’ Sandoz unit and Momenta Pharmaceuticals Inc seeking to invalidate Copaxone patents.

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