Biotech Values

[DewDiligence]

[MNTA] Copaxone Sales Keep Growing

3Q08 US Copaxone sales rose 25% year-over-year and 6% quarter-over-quarter to $352M (a $1.41B annualized rate), the highest quarterly figure ever.

Ex-US Copaxone sales rose 31% year-over-year and declined 9% quarter-over-quarter; both changes were due largely to currency swings (i.e. the dollar weakened from 3Q07 to 3Q08 but strengthened strongly from 2Q08 to 3Q08).

For now, the US Copaxone sales number is the most pertinent one for MNTA insofar as the US is the only market to date in which MNTA and partner, Sandoz, have submitted an application to market a generic version of Copaxone.

For both 3Q08 and the first nine months of 2008, Copaxone had the largest market share of any MS drug.

http://biz.yahoo.com/bw/081106/20081105006553.html

Annualized 3Q08 Sales
(as reported by Teva):

US: $1.41B (63% of total), +25% YoY, +6% QoQ
ex-US: $840M (37% of total), +31% YoY, -9% QoQ
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Total: $2.25B, +28% YoY, flat QoQ