SNY - Teva Pharmaceutical: Buy This Bargain Before It's Gone
2024-06-07 10:57:58 ET
Summary
- Since Richard Francis became CEO in early 2023, his 'Pivot to Growth' strategy has continued to bear fruit.
- On April 16, the FDA approved Selarsdi, a biosimilar of Stelara, which earned Johnson & Johnson about $2.45 billion in the first quarter of 2024.
- Austedo/Austedo XR sales totaled $282 million in the first three months of 2024, up 65.9% yearly, thanks to its competitive advantage in the fast-growing tardive dyskinesia therapeutics market.
- The company has an extensive portfolioof experimental medications aimed at treating schizophrenia, Crohn's disease,multiple system atrophy, Parkinson's disease, and more.
- Consequently, I'm initiating coverageof TevaPharmaceutical with a"buy" rating.
Teva Pharmaceutical Industries Limited ( TEVA ) is Israel's largest pharmaceutical company and one of the major suppliers of generic drugs in the United States and the European Union.
Investment thesis
Over the past year, the company has made tremendous progress in reshaping its business, and its "Pivot to Growth" strategy is beginning to bear fruit, from accelerating the development of its experimental drugs targeting inflammatory diseases to improving operating income margin and reducing debt....
Teva Pharmaceutical: Buy This Bargain Before It's Gone