Teva Shares

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Teva Shares

Postby L » Sun Jul 25, 2010 7:11 am

Teva shares took a bit of a fall (almost 10%) on Friday.

Teva Pharmaceutical Industries' share price plummeted 8.7% in Wall Street trading on Friday after the U.S. Food and Drug Administration approved for sale a generic drug that hadn't gone through full clinical tests, a precedent-setting move.

The FDA approved the Abbreviated New Drug Application for a generic version of Sanofi-Aventis' deep vein thrombosis drug Lovenox.
Copaxone

The decision affects Teva as its flagship drug, Copaxone, has come under increasing fire from generic would-be competitors. Copaxone, Teva's first proprietary drug, is used for treating multiple sclerosis patients and is responsible for 25% to 30% of Teva's profits.


The full article:
http://www.haaretz.com/print-edition/business/teva-plummets-8-7-as-fda-sets-generic-testing-precedent-1.303859

I wonder what will happen on Monday (http://www.google.com/finance?q=NASDAQ%3ATEVA)
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Postby welshman » Sun Jul 25, 2010 10:16 am

What's also very interesting is the statement that the FDA approved this new "drug" without full clinical trials !!!! Isn't it a shame that the FDA is not "in charge" of CCSVI treatment !!!!!
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