How TEVA’s Respiratory Franchise Is Positioned after 1H17
Respiratory Franchise revenue trends
In 1H17, Teva Pharmaceutical Industries’ (TEVA) respiratory franchise reported revenues of ~$626 million, or ~8% lower YoY (year-over-year). In 2Q17, Teva’s respiratory business generated revenues of ~$322 million, or ~3% higher YoY and 6% higher QoQ (quarter-over-quarter).
Teva’s respiratory portfolio includes Braltus, ProAir, Qvar DuoResp Spiromax, Qnasl, and Cinqair.
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ProAir revenue trends
In 1H17, Teva’s ProAir reported revenues of ~$244 million, or ~21% lower YoY. In 2Q17, ProAir generated revenues of ~$123 million, or ~9% lower YoY and 2% higher QoQ. ProAir continued to have leading market share in the short-acting beta-agonist market.
ProAir (albuterol sulfate) is used for the treatment or prophylaxis of bronchospasm in individuals aged four years or older with reversible obstructive airway disease. ProAir is also indicated for the prevention of exercise-induced bronchospasm in individuals aged four years and older.
QVAR revenue trends
In 1H17, Teva’s QVAR reported revenues of ~$205 million, or ~18% lower YoY. In 2Q17, Qvar generated revenues of ~$107 million, or ~8% lower YoY and 9% higher QoQ.
Qvar (beclomethasone dipropionate) is used for the maintenance treatment of asthma as a prophylactic therapy in individuals five years or older. Qvar is also indicated for the treatment of asthma in patients who are in need for oral corticosteroid therapy.
In April 2017, Teva launched AirDu RespiClick (fluticasone propionate and salmeterol), which has a similar composition as GlaxoSmithKline’s (GSK) Advair.
Teva’s peers include GlaxoSmithKline, AstraZeneca, Novartis (NVS), Boehringer Ingelheim, and Merck (MRK). Notably, the BLDRS Europe Select ADR Index Fund (ADRU) invests ~0.55% of its total portfolio in TEVA.