TEVA VS. NVS: Tied at Halftime
Written by: Aaron Katsman | May 30, 2007
By Aaron Katsman
IsraelNewsletter.com
Yesterday a U.S. Federal judge extended a temporary restraining order on sales of generic versions of blood pressure drug Lotrel by Teva Pharmaceuticals (TEVA). While that was good news for Novartis (NVS) , the judge also allowd for the continued sales of TEVA’s generic version, which had already been shipped and received by suppliers and customers. A final verdict on the case by the U.S. District Court for the District of New Jersey is expected very soon.
As I mentioned in this blog last week, most analysts think TEVA successfully shipped more than enough of the drug to start taking market share from Lotrel, so yesterday’s ruling, which allowed them to sell what has already been shipped, would have to be considered a victory of sorts.
Disclosure: Author’s fund is long TEVA as of 5/30/07.
Like what you see? Sign up to receive daily updates from IsraelNewsletter here.
Please see our Disclaimer HERE.
***
Aaron Katsman is the lead portfolio manager for the Israel Growth Portfolio and Managing Director of America Israel Investment Associates, LLC. For more information, go to www.israelnewsletter.com or call 1-888-327-6179, or email aaron@profile-financial.com.
Share with others:
