NEW YORK (TheStreet) -- Teva Pharmaceuticals (TEVA) - Get Report stock was up in mid-morning trading on Thursday as Leerink said in a note this morning that generic challengers to its multiple sclerosis drug, Copaxone, will be kept off the market until 2018.
Yesterday, the U.S. Patent Office's Patent Trial and Appeal Board deemed that two of Teva's Copaxone patents are considered unpatentable. The office will rule on the Israel-based pharmaceutical company's remaining patents on the drug in upcoming weeks.
Rival drug maker Mylan (MYL) has filed with the FDA to unveil its own version of the drug.
However, Leerink sees the risk from competitor's versions of the Copaxone drug as "low" in the next year.
"We continue to believe that generic challengers will be kept off the market until 2018," given that Teva has a fifth newly-issued patent on the drug and will likely exhaust all legal appeals for its invalidated patents, Leerink said.
The firm reiterated its "outperform" rating on Teva stock.
Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
TheStreet Ratings rated this stock as a "buy" with a ratings score of B.
The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. We feel its strengths outweigh the fact that the company has had lackluster performance in the stock itself.
You can view the full analysis from the report here: TEVA