Teva denies claims its MS drug Copaxone profits set to slump

Israel’s Teva Pharmaceutical Industries (NYSE: TEVA), the world’s largest generic drugmaker, this morning strongly denied a report by The Marker claiming that profits from its brand-named multiple sclerosis treatment Copaxone (glatiramer acetate) will drop by 42% in 2014.

In a statement, Teva said: “The company is aware of an article published this morning by The Marker in Israel that claims to feature a copy of Teva’s long-range financial planning forecast for the years 2013 through 2018. This information, which appears to be from an outdated presentation is incomplete and does not reflect our full analysis, and was provided to The Marker without Teva’s authorization. The company is extremely disappointed that confidential, potentially misleading and obsolete information was made public at this time and intends to investigate the unauthorized dissemination and publication.”

The company noted that it is in the process of completing its annual planning and expects to provide its full-year 2014 financial outlook in December. It does not intend to comment further until then.