Friday, September 07, 2007

Teva to launch a generic version of Wyeth's Protonix

Teva/IVAX may have lost on Lexapro, but Friday's a brand new day and stock traders are already looking to Teva's chances on launching a generic version of Wyeth's Protonix.

AP reported on Friday, Sept. 7:

Teva Pharmaceutical Industries Ltd. shares edged higher Friday as investors wondered if the company will soon launch a generic version of Wyeth's Protonix.

On Thursday, a U.S. District Court rejected Wyeth's request for an injunction that would have kept Teva from selling its version of the heartburn drug until a patent dispute between the companies was resolved.

Teva and partner Sun Pharmaceuticals had promised not to sell the drug before Friday. Although patent issues remain, analysts said Teva could choose to launch the drug anyway.

In terms of the traders, AP reported: Fifteen analysts give a "Buy"-equivalent rating on Teva shares, while seven rate it at "Neutral" and two assign a "Sell"-equivalent rating.

IPBiz reminds readers that for years NO ONE wanted to invest in Chester Carlson's invention of xerography. IBM passed on the idea THREE TIMES. Sometimes the analysts are simply wrong. See IPBiz post of September 4.


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