Biotech Values

[Cactus Quave]

Teva's statements have changed simply because of what they have heard from the FDA.

Peter,

Do you agree that Teva's tone did change regarding t-enox approval with Tuesday's PR? Before Tuesday, all we heard was that they expected approval by various dates that have now passed. Now they are acknowledging that more information is required by the FDA, but not being specific about the what type of information required, exactly when they would provide it ("near future" has lots of wiggle room and is quite a bit different than providing a date), or whether they are still actually expecting approval. Another important distinction is that recently Bill Marth has pointed out that, even if approved, t-enox would only be one of several generic versions of Lovenox on the market. Was he not, in effect, saying that t-enox is not really that important?

Taken by itself, perhaps not too much should be read into Teva's PR on Tuesday. Taken in the context of Teva's posturing over the last six months, it does seems that they making a significant departure and are hedging considerably. Looking at everything, I suspect Teva has begun the process of pushing t-enox to the back burner in the eyes of their shareholders. Time will tell.