JERUSALEM — Teva Pharmaceutical Industries anticipates that it could lose about $500 million in sales next year if a generic version of its multiple sclerosis drug hits the market, the Israeli drug maker said Tuesday.
In issuing its financial outlook for the 2014 calendar year, Teva said it expected sales of about $19.3 billion to $20.3 billion if at least two generic versions of Copaxone (glatiramer acetate) hit the U.S. market in June, or $19.8 billion to $20.8 billion if they don't. Mylan and Momenta Pharmaceuticals are among the companies hoping to launch a generic version of the drug, but Teva said its sales would see a $78 million benefit for every month the launch of a generic version was delayed.
"2014 will be a pivotal year for Teva and a year of major transitions across the company," acting president and CEO Eyal Desheh said. "We will continue to make significant progress in implementing our strategy."
Generic drugs, from which Teva derives most of its revenue, are expected to have overall sales of $9.8 billion to$10.5 billion. Copaxone had sales of $3.6 billion in 2012, according to IMS Health.