Wounded Teva to fight Copaxone setback but admits share challenges
There have been some challenging days in the recent history of Teva Pharmaceutical Industries (NYSE: TEVA), and Wednesday would certainly come into that category.
The share price of the Israeli drugmaker closed 15% down at $16.08 after rival firm Mylan (Nasdaq: MYL) announced that it had been given the go-ahead to launch a generic version of Teva’s blockbuster multiple sclerosis (MS) drug Copaxone (glatiramer acetate) at 40mg/mL for a three-times-a-week injection, and the once-daily 20mg/mL injection.
"We remain confident in patient and physician loyalty to Teva's Copaxone"
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