A little flattery typically goes a long way. Katsman and I base most of our research from on-the-ground work we’re doing on Israeli stocks that trade in the U.S. As many who follow the sector know, it really helps in terms of information and data flow to be based in Israel. So, in order to break-out of group think, we
frequently travel to the US to meet with investors, the press and subscribers to our premium research product.
I take notice when I travel outside of Israel about how US investors and companies view Israeli firms. More importantly, I also get a chance to watch some great sports which our Israeli cable providers either miss or show at awful hours of the night. So, it was a huge treat yesterday for me to kick back and watch the playoffs of one of golf’s greatest events, the US Open, where once again, Tiger Woods made me feel totally inadequate as a man. It was a thrill to watch the best in the world compete. (Continue »)
Written by: Aaron Katsman | June 17, 2008
Aaron Katsman
IsraelNewsletter.com
Once again Israel has demonstrated that what it lacks in natural resources it more than makes up for in brainpower. Lucky for the world that it’s a renewable resource. News that Azilect, a drug that is co-developed by Teva Pharmaceuticals (TEVA), has been successful in the treatment of Parkinson’s Disease, is another in the long-line of cutting edge innovations produced in Israel, and exported to the the rest of the world.
According to a report in Haaretz: “Azilect, which is the brand name for rasagiline, was tested in 1 milligram tablets as a treatment for Parkinson’s Disease. Teva said yesterday that the drug can actually slow the disease’s progression, which can’t be said for any other therapy for the so-far incurable nervous system condition.”
For Teva, this drug has the potential to generate $1billion is sales, and be a mega-drug. Teva, biggest generic drug company in the world, has also turned into a R&D powerhouse focusing on neurological diseases. Copaxone, another Teva product which treats Multiple Sclerosis, has turned into the number 1 global treatment in the fight against MS.
For the more than 4 million Parkinson’s sufferers, this breakthrough could be life changing. Teva hopes to get regulatory permits to sell the drug not only as a treatment of the disease but also as a way to slow down the progression of the disease. They are shooting for the end of ‘09 to get the permits. For both investors and Parkinson’s sufferers, let’s hope they get the permits sooner rather than later.
Disclosure: Author’s fund has a position in TEVA as of 6/17/08.
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Aaron Katsman is Managing Editor of the Israel Opportunity Investor newsletter. He is 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.
