Teva's healthy Q3 adrift in sea of uncertainty
This article was originally published in Scrip
Executive Summary
Teva Pharmaceutical Industries reported revenue growth and a return to net profit in the third quarter. However, news of relatively healthy third-quarter results will be cold comfort to the firm's investors, following the sudden departure of CEO Jeremy Levin on 31 October, apparently against his will, and with the outlook continuing to look decidedly shaky for the company once its primary profit engine, the branded multiple sclerosis drug Copaxone (glatiramer acetate injection), faces generic competition in the US potentially from May 2014.