Teva Pharmaceutical Industries Ltd.’s blockbuster drug Copaxone weathered its first encounter with a generic competitor better than analysts had expected last quarter, prompting speculation that cheaper rivals may not be the disaster they’d braced for.
Five analysts increased their estimate for Copaxone sales in the past two weeks, according to data compiled by Bloomberg. The multiple sclerosis drug is expected to generate $3.29 billion in revenue next year, according to the average of 13 estimates compiled by Bloomberg. That’s $362 million more than the analysts had projected 12 weeks ago. The consensus estimate for 2017 and 2018 was also increased by at least $200 million.
