Biotech Values

[DewDiligence]

Bill Marth is the correct answer. What’s amusing about all this is that I’m certain Marth never actually expected Teva to get FDA approval for generic Lovenox in 2010 and his saying he would be “deeply disappointed” by failure to get approval was nothing but propaganda.

Marth’s comment came in response to questioning by Citi analyst John Boris during Teva’s 3Q10 CC on 2-Nov-2010:

http://seekingalpha.com/article/234179-teva-pharmaceutical-industries-ceo-discusses-q3-2010-results-earnings-call-transcript?part=qanda

John Boris: Question for Bill… where are you in that process on Lovenox? Has it completed and you're just waiting for a final response from the FDA? Any update there would be helpful.

Bill Marth: On the enoxaparin, there isn't a whole lot more color to add to enoxaparin other than what I think is important is we achieved chemical sameness and we're in review with OBP, and meeting with management helped us feel much better about the situation.

John Boris: Is it in your guidance for this year? [Great question by John Boris to get to the crux of the matter.]

Bill Marth: I can't really say about the guidance whether it's in or not. [In other words, Lovenox sales were *not* in Teva’s 2010 sales and EPS guidance.] The fact of the matter is we are still hopeful that we could see it yet this year. In fact, I'd be deeply disappointed if we didn't get the approval yet this year, but again we can't be certain.

LOL