Stockwatch: Choppy Waters For Teva And Bausch
Could Black Swan Add To Generics Sector Woes?
After most of the big pharmaceutical companies reported their full-year 2019 financial results, the second month of earnings season brings the long tail of smaller biotech companies and the generic pharmaceutical companies. There is more than one uncomfortable parallel from the former in the reports of the latter.
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Two late-stage trials of Austedo have missed their endpoints in the neurological disorder, meaning Teva will miss out on an additional revenue stream from the VMAT2 inhibitor.
Bausch says it expects US FDA to approve its ANDA for the first preservative-free OTC eye drop for ocular itching associated with allergic conjunctivitis in the second half of 2020. The firm reports its Lumify redness relief drops generated sales of $63m for 2019.
Teva's turnaround is progressing, but the company forecast largely flat revenues and earnings in 2020. A threat to the improved stability is how an opioid litigation settlement might unfold.