Biotech Values

[DewDiligence]

4Q11 US Copaxone sales were ~$740M, although the number was not explicitly disclosed by Teva. This estimate is based on: i) the disclosed $1.0B of 4Q11 worldwide Copaxone sales; ii) the 74% share of worldwide Copaxone sales in the US market during 3Q11; and iii) the lack of pricing pressure for Copaxone in the US market, according to Teva.

The $740M estimate above is consistent with Teva’s guidance for the full year 2012, which implies about $2.8B of US Copaxone sales (#msg-70158971). Teva’s 2012 sales guidance excludes the launch of a generic, of course.