Teva Remains Neutral On Erosion Worries After Sandoz Remarks
Teva’s Outlook On Price Erosion Differs From Sandoz In Solid Q1
Teva was drawn into the conversation around generic price erosion, especially in the US and Europe, after Sandoz singled out the unfavorable effect during a lackluster Q1.
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Teva faced questions about the current environment in the US for generics, following weakness in its numbers and in those of rival Sandoz during the third quarter. Management remains “very committed to the US generics segment,” after sales dropped by 7%.
The generics industry struggled with the prior-year comparison as it saw an expected decline in revenues in the first quarter of 2021, driven by the global impact of the COVID-19 crisis. As a result, the performance of most companies fell short of the numbers reported in Q1 2020. However, a few managed to contradict the trend by reporting growth, either based on the launch of COVID-related drugs or performance in specific geographies.
Viatris has reiterated the strength of its biosimilars and complex generics pipeline, highlighting opportunities including biosimilar Eylea, Botox and once-a-month Copaxone.