Teva Pharmaceuticals (TASE, Nasdaq:TEVA) announced that Copaxone
sales, its medication for relapsing/remitting multiple sclerosis
reached an all-time high of $936 million, up 30% from the year 2003.
IMS Health, a source for pharmaceutical market intelligence and
analysis, says Copaxone achieved a 32.6% share of the U.S. market in
the second half of 2004, making it the biggest selling treatment in
the States for MS.
Fourth-quarter Copaxone sales in the U.S. increased 23% versus the
same period of 2003 to $175 million.
U.S. sales for the year jumped 26% to $625 million. Year 2004 sales
outside the U.S. leaped 38% to $311 million.
Copaxone, one of Teva's few proprietary drugs, is responsible for
about 10% of Teva's turnover, and 15% of its net profit. Part of the
pressure mounting on Teva stock in recent weeks has been due to
perceived threats to Copaxone, mainly the upcoming launch of Tysabri,
a medication from Biogen Iden (Nasdaq:BIIB) and Elan Pharmaceuticals.
Copaxone is administered by daily injection, but the patient can cope
with it at home. Tysabri is convenient in requiring only a monthly
injection, but it must be administered at a clinic.