JP Morgan: Teva Benefitting from Ranbaxy Exclusivity

In a published report, JP Morgan says Teva Pharmaceutical TEVA is expected to benefit from the generic Lipitor situation, as the company is announced to receive a potion of profits during period of exclusivity. JPM says, “While terms of the agreement with Ranbaxy are undisclosed, it now appears that Teva will have some contribution from Lipitor in 4Q. We would note that our current 4Q Teva sales/EPS estimates include no contribution for generic Lipitor and no major unexpected launches. As a reminder, Teva's 2011 guidance range included a “mystery product” that could be worth up to $0.10 to EPS.” TEVA closed at $39.61 per share on Wednesday.