Positive rating for Teva group

Teva’s shares have declined 12% from their high set in September, probably reflecting the approval of the new Eli Lilly’s migraine drug, that will be a direct competitor to Teva’s Ajovy. Despite this, Goldman Sachs’ analysts remain highly positive about the company and expect its shares to keep their relevant upward trend over the next months. Optimism within the US-based bank reflects the wave of good news recently reported by the Israel-based group, such as the approval of the generic to blockbuster Cialis–with 180 days of marketing exclusivity–and of the generic to EpiPen. Additionally, positive results have recently come from the Phase-III study on Fasinumab, a monoclonal sciatica treatment. Finally, since when the Danish manager Kare Schultz assumed control of the company, Teva has had  a different pace from the past, showing a clear growth and debt-tackling strategy–the indebtedness is a result of the deal with Actavis.

(Source: Globe)