Teva Pharmaceutical Industries CEO Francis Says Still Expects U.S Humira Near Copy Launch, Despite AbbVie Holding Around 99% Of Market In 2023
Portfolio Pulse from Benzinga Newsdesk
Teva Pharmaceutical Industries' CEO, Francis, has stated that the company still anticipates launching a near copy of Humira in the U.S., despite AbbVie's current hold of approximately 99% of the market in 2023.
January 31, 2024 | 5:21 pm
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POSITIVE IMPACT
Teva's confirmation of its plans to launch a Humira biosimilar in the U.S. could potentially disrupt AbbVie's market dominance and create a new revenue stream for Teva.
Teva's announcement of launching a Humira biosimilar is significant as it represents a strategic move to capture part of a market heavily dominated by AbbVie. If successful, it could lead to increased revenues for Teva and diversify its product portfolio, which may positively impact its stock price in the short term.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
AbbVie, which currently holds around 99% of the Humira market, may face competition from Teva's upcoming biosimilar product, potentially affecting its market share and revenues.
AbbVie's near-total market share for Humira could be threatened by Teva's entry into the market with a biosimilar. This competition may lead to a decrease in AbbVie's market share and revenues from Humira, which could negatively impact its stock price in the short term.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80