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How Did Teva’s CNS Portfolio Perform in 3Q17?

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CNS revenue trends

Teva Pharmaceutical Industries’ (TEVA) CNS (central nervous system) drugs generated 3Q17 revenues of $1.1 billion, which was ~12% lower YoY (year-over-year) and ~1% lower QoQ (quarter-over-quarter). From January 2017 to September 2017, or YTD (year-to-date) as of September 2017, CNS drugs generated revenues of ~$3.4 billion, which was ~15% lower YoY.

Copaxone revenue trends

Teva’s Copaxone reported 3Q17 revenues of $987 million, which was ~7% lower YoY and 4% lower QoQ. Outside the US, Copaxone reported 3Q17 revenues of $185 million, which was 1% lower YoY. Copaxone reported YTD (as of September 2017) revenues of $2.98 billion, compared with $3.2 billion during the corresponding period of 2016.

In October 2017, the FDA (US Food and Drug Administration) approved a generic version of Copaxone 40 mg/mL (milligrams/milliliters) and another generic version of Copaxone 20 mg/mL. The approval of generic versions of Copaxone could significantly affect Teva’s financial results.

In the multiple sclerosis drugs market, Teva’s Copaxone competes with Sanofi’s (SNY) Aubagio, Biogen’s (BIIB) Fampyra, Tecfidera, and Tysabri, and Novartis’ (NVS) Gilenya. For 3Q17, Fampyra, Tecfidera, Tysabri, and Gilenya reported revenues of $24.3 million, $1.07 billion, $469 million, and $801 million, respectively.

Azilect revenue trends

Azilect reported 3Q17 revenues of $36 million, which was ~64% lower YoY but 6% higher QoQ. High competition from the generic versions of Azilect primarily attributed to the stiff YoY decline in revenues in 3Q17.

Azilect reported YTD (as of September 2017) revenues of $130 million, compared with $322 million during the corresponding period of 2016.

Nuvigil revenue trends

Nuvigil generated 3Q17 revenues of ~$21 million, which was ~50% higher QoQ. Azilect reported YTD (as of September 2017) revenues of $52 million, compared with $175 million during the corresponding period of 2016.

To know more about Teva’s CNS franchise revenue trends, please refer to Market Realist’s “How TEVA’s CNS Drugs Performed in 1H17.” Notably, the PowerShares International Dividend Achievers Portfolio (PID) invests ~2.6% of its total portfolio holdings in TEVA.

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