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DewDiligence

02/06/14 4:16 PM

#173882 RE: DewDiligence #173881

Based on 4Q13 US Copaxone sales of $805M (#msg-96917776), the commentary in #msg-90394447 on the long-term outlook of Copaxone in the US market remains valid, IMO.
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DewDiligence

05/01/14 5:21 PM

#177472 RE: DewDiligence #173881

Teva’s 1Q14 US sales of Copaxone (combining the 20mg daily and 40mg thrice-weekly products) were $816M, +1% YoY and +1% QoQ:

http://www.sec.gov/Archives/edgar/data/818686/000130901414000299/exhibit1.htm

The thrice-weekly 40mg Copaxone product currently accounts for 31% of overall US Copaxone by prescription volume, according to the above PR; if we apply this 31% proportion retroactively to the 1Q14 sales number of $814M and ignore (for simplicity) the difference in ASP between the two versions of Copaxone, then 20mg daily Copaxone would have had pro forma 1Q14 sales of $814M(0.69) = $562M, or $2.25B annualized.

(Note: Actual US sales of the 20mg version during 1Q14 have not been disclosed, but they were certainly higher than the $562M pro forma number calculated above because the 40mg product was approved on 1/28/14 and gained share during the quarter.)

Other tidbits:

• There was a price increase in Jan 2014 for 20mg Copaxone.

• Total Copaxone (i.e. the two versions combined) currently has a 33.5% TRx share of the US MS market.