Analyst Offers Insight on Favorable FDA Ruling for Teva Pharma

Shares of

are up 6.66 percent to $52.74 on news that the company has received a U.S. Supreme Court hearing on generic Copaxone delay. The news will “bolster investor confidence that a generic will not be on the market in May 2014,” BMO Capital analyst David Maris said. There is also the possibility that generic drug makers may not risk a debut in May, which would be positive for Teva. Each week the company is able to keep “generics away is good news, as Teva continues to rapidly move patients to the new 3x/week formulation,” according to Maris. Conversion rate to new 3x per week formulation is trending up from 22 percent last week to 27 percent for existing patients.