Israel based pharmaceutical company Teva, the world's biggest generic drug maker, will reportedly be able to exclusively distribute its version of the Lipitor cholesterol-lowering medicine due to its collaboration with Indian pharmaceutical company Ranbaxy, which holds a 180-day permit to distribute the generic drug, Calcalist , it is learned.
The analysts have based their assumption on comments made by Teva President and CEO Shlomo Yanai during a conference following publication of third-quarter financial results.
In a recently held meeting Teva said that if it manages to introduce the "important undisclosed product" in the fourth quarter, it would meet the upper range of its 2011 earnings per share forecast of $4.92-5.02. Some analysts said the mystery drug is likely to be a generic version of Pfizer's biggest selling product, the $10-billion a year Lipitor.
Bernstein analyst Ronny Gal said that Teva's comments about a large drug it failed to introduce earlier in the year, could only mean Lipitor. "Which other product can give Teva $0.10 of earnings per share or $89 million net income in one month?"
About Lipitor & Teva
Lipitor, the biggest product for New York-based Pfizer, is an anti-cholesterol pill.Teva is a global generic pharmaceuticals leader and one of the top 15 pharmaceutical companies in the world. Headquartered in Israel, established in 1901 Teva operates in 60 countries and has 45,000 employees worldwide.