Credit: Teva Pharmaceutical Industries Ltd. , TEVA announced the reintroduction of the generic equivalent to Depo-Prover Contraceptive Injection (medroxyprogesterone acetate injectable suspension, USP) 150 mg/mL in the United States, indicated for the prevention of pregnancy. With the reintroduction, the patients will get access to an additional product in the market.
Medroxyprogesterone acetate injectable suspension, USP 150 mg/mL had annual sales of approximately $211 million in the United States, according to IMS data as of July 2017.
Notably, Teva is the world's largest generic drug company in terms of both total and new prescriptions. The company also enjoys a leading position in the United States, which is the world's largest generic market, with a market share of 18% post the Actavis deal. Meanwhile, in the global generics market Teva commands 8.0% share.
Following the Actavis Generics acquisition, Teva has more than 300 abbreviated new drug applications (ANDAs) pending FDA approval including more than 100 first-to-file (FTF) opportunities. Excluding United States, the company has an estimated 1,400 regulatory filings pending in Europe and 600 in growth markets. Going forward, Teva is planning 1,000 generic launches globally in 2017 with more than $750 million in sales from United States' product launches.
Additionally, the company intends to pursue FTF and first-to-market opportunities and seek approval for complex generics that are likely to face less competition. This should help the company maintain its strong position in the global generics market. In 2017, Teva projects to generate approximately $500 million from new products.
However, the generic market is highly crowded and Teva faces competition from players like Mylan MYL , Dr. Reddy's RDY and Sandoz-the generic arm of Novartis NVS , among others. Also, pricing erosion in the U.S. generics business and the continued deterioration in Venezuela is hurting sales at Teva, which led to a guidance and dividend cut in August 2017.
4 Stocks to Watch after the Massive Equifax Hack
Cybersecurity stocks spiked on recent news of a data breach affecting 143 million Americans. But which stocks are the best buy candidates right now? And what does the future hold for the cybersecurity industry?
Equifax is just the most recent victim. Computer hacking and identity theft are more common than ever. Zacks has just released Cybersecurity! An Investor's Guide to inform Zacks.com readers about this $170 billion/year space. More importantly, it highlights 4 cybersecurity picks with strong profit potential.
Get the new Investing Guide now>>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Novartis AG (NVS): Free Stock Analysis Report
Dr. Reddy's Laboratories Ltd (RDY): Free Stock Analysis Report
Teva Pharmaceutical Industries Limited (TEVA): Free Stock Analysis Report
Mylan N.V. (MYL): Free Stock Analysis Report
To read this article on Zacks.com click here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
