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Feb. 13, 2018, 9:10 a.m. EST

Teva shares drop 3% after rival generic product approved and launched

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    Teva Pharmaceutical Industries Ltd. ADR (TEVA)
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By Emma Court

Teva Pharmaceutical Industries Ltd. /zigman2/quotes/205657894/composite TEVA -0.61% shares dropped 3% in premarket trade Tuesday after Novartis AG's Sandoz /zigman2/quotes/203243705/composite NVS -0.84% announced that the 40 mg dose of Glatopa, its generic for Teva's popular multiple sclerosis medication Copaxone, has been approved and launched in the U.S. Glatopa was developed through a collaboration between Novartis and Momenta Pharmaceuticals /zigman2/quotes/200094979/composite MNTA -2.56% , and the 20 mg dose was made available in mid-2015. Momenta shares surged 6.8% in premarket trade. The 40 mg dose was approved about six weeks earlier than expected, said Leerink Partners analyst Ami Fadia, noting that Teva expected a launch as early as April. Teva shares have surged 64% over the last three months, while Novartis shares have risen 1.6% and Momenta shares have surged 26.4%, compared with a 2.8% rise in the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.02% .

/zigman2/quotes/205657894/composite
US : U.S.: NYSE
$ 11.50
-0.07 -0.61%
Volume: 5.61M
Aug. 14, 2020 4:00p
P/E Ratio
3,485
Dividend Yield
N/A
Market Cap
$12.76 billion
Rev. per Employee
$441,818
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/zigman2/quotes/203243705/composite
US : U.S.: NYSE
$ 84.65
-0.72 -0.84%
Volume: 1.94M
Aug. 14, 2020 4:00p
P/E Ratio
26.93
Dividend Yield
2.37%
Market Cap
$187.24 billion
Rev. per Employee
$415,614
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/zigman2/quotes/200094979/composite
US : U.S.: Nasdaq
$ 29.14
-0.77 -2.56%
Volume: 833,806
Aug. 14, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$3.46 billion
Rev. per Employee
$577,015
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/zigman2/quotes/210599714/realtime
US : S&P US
3,372.85
-0.58 -0.02%
Volume: 1.71B
Aug. 14, 2020 5:11p
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