Teva Pharm Stock Price, News & Analysis

Teva Pharmaceuticals has moved forward with a nationwide settlement aimed at resolving opioid-related claims, having secured participation from 48 of 50 U.S. states. The agreement, reached in collaboration with a working group of States’ Attorneys General, does not include an admission of wrongdoing. Teva believes the settlement is in the best interest of impacted communities and allows the company to concentrate on its patients. The process for subdivisions of the states to join the settlement will start soon, reflecting positive engagement from the states.

The FDA has accepted the Biologics License Application (BLA) for AVT04, a proposed biosimilar to Stelara® (ustekinumab), developed by Alvotech and Teva Pharmaceuticals. The regulatory review is expected to complete in the second half of 2023. AVT04 aims to treat inflammatory conditions and has shown therapeutic equivalence in clinical trials. This partnership was formed in August 2020 to commercialize Alvotech’s biosimilar products in the U.S. Both companies are focused on expanding access to cost-effective biosimilar treatments.

Teva Pharmaceutical Industries Ltd. (NYSE: TEVA) will present at the 41^st Annual J.P. Morgan Healthcare Conference on January 11, 2023, at 10:30 A.M. Pacific Time (1:30 P.M. Eastern Time). Interested parties can access the live webcast on Teva's Investor Relations website, with an archived version available within 24 hours and accessible for up to 30 days. Teva has over 3,500 products in its portfolio, serving around 200 million patients globally every day.

Teva Pharmaceuticals has finalized the documentation for a nationwide opioid settlement with States’ Attorneys General and Multi-District Litigation Plaintiffs. The settlement aims to resolve Teva's opioid-related disputes, including indemnification obligations with Allergan. The sign-on process for states will commence soon, with expectations of high participation rates based on previous settlements in Texas, Florida, Louisiana, Rhode Island, West Virginia, San Francisco, and New York. This move is seen as a step towards putting legal challenges behind and refocusing on patient care.

Teva Pharmaceuticals has announced a collaboration with Rimidi to integrate data into healthcare workflows, enhancing chronic care management and patient monitoring. The partnership aims to expand access to Teva's Digihaler® system, facilitating personalized asthma care through actionable data. Rimidi's platform aggregates data from various devices for streamlined integration with Electronic Health Records (EHR). This collaboration embodies Teva's commitment to predictive healthcare, aiming to improve patient outcomes and operational efficiency across healthcare systems.

Teva Pharmaceuticals has announced a collaboration with HealthSnap to enhance access to its Digihaler® system, a digital platform for chronic disease management. This partnership aims to integrate patient data into healthcare workflows, enabling proactive care across large populations, particularly for asthma patients. Teva's senior VP stated that the initiative is focused on predictive and preventative care, enhancing the healthcare ecosystem with technology. HealthSnap will utilize this collaboration to expand personalized care for respiratory disease patients.

Teva Pharmaceuticals announced that findings from its CONNECT clinical trial program on the Digihaler System will be presented at the ACAAI 2022 Annual Scientific Meeting from November 10-14 in Louisville, Kentucky. The data includes results from two trials: CONNECT1 and CONNECT2, assessing the effectiveness of the ProAir and AirDuo Digihalers in asthma management compared to standard care. While the studies aim to improve patient-provider interactions and treatment adherence, the FDA's approved label states no evidence that the app improves clinical outcomes.

Teva Pharmaceutical Industries Ltd. reported Q3 2022 revenues of $3.6 billion, an 8% decline from Q3 2021. GAAP diluted EPS was $0.05, while non-GAAP EPS was $0.59. The company revised its 2022 revenue outlook to $14.8-$15.4 billion due to foreign exchange headwinds. AUSTEDO and AJOVY showed strong growth, with AUSTEDO's U.S. revenues increasing by 30%. However, revenues from generic products declined in North America, and the company faced significant foreign exchange impacts. Teva expects a non-GAAP tax rate of 12%-14% for 2022.

Teva Pharmaceuticals has released new findings from the ARC-HD trial, an open-label extension study assessing the long-term effects of AUSTEDO (deutetrabenazine) for chorea associated with Huntington's Disease. The study highlighted a similar safety profile to earlier trials, with over 90% medication compliance and significant reductions in mean chorea scores. The results, involving 119 patients, affirm AUSTEDO's efficacy in maintaining chorea control over approximately three years. These findings enhance the treatment landscape for Huntington's Disease, which affects around 35,000 individuals in the U.S.