Biotech Values

[DewDiligence]

Teva forecasts $3.8B of worldwide Copaxone sales in 2012, which is a slight decline from the approximately $4.08B annualized run rate in 3Q11. Increased competition from Gilenya and forced price reductions in Europe are presumably the impetus for the tepid forecast.

Teva hasn’t issued a 2012 forecast for Copaxone sales in the US, specifically. In 3Q11, US Copaxone sales were $752M (a $3B annualized run rate) and they comprised 74% of worldwide sales. If, for the sake of discussion, we assume that this 74% figure will hold in 2012, Teva is forecasting US Copaxone sales of $2.8B.