Biotech Values

[Mpower]

IMHO: It is in TEVA's best interest to assert (1) that they will receive mL approval and (2) that a Copaxone generic will not be approved by the FDA. This strategy will persist well into next year (they will continually assert that they are expecting approval soon)... TEVA has no incentive to admit otherwise.

Over time, the market will realize TEVA's approach and will also realize that an explicit FDA denial of the other outstanding mL applications will not be forthcoming... those applications could be in perpetual bureaucratic purgatory.