NEW YORK (TheStreet) -- Shares of Teva Pharmaceutical Industries (TEVA) are up 0.92% to $56.91 after it was reported that the company's 2015 profit may surpass analyst estimates if generic copies of bestselling multiple sclerosis drug Copaxone are kept off the market until September, according to Bloomberg.
Earnings excluding some costs will be $5 to $5.30 per American depositary receipt in a scenario with two generic versions of once-a-day Copaxone in September, Teva said. Analysts predict $5.05 on average, Bloomberg noted.
Earnings development will hinge on how the U.S. Supreme Court rules on a patent that could protect Copaxone from rivals, Bloomberg said, adding, with Teva's number one product facing competition from newer oral drugs and potential generics, it's seeking to cut as much as $2 billion in annual costs.
Additionally, the company said it expects to spend approximately $1 billion to $1.2 billion on share buybacks during 2015.
Separately, TheStreet Ratings team rates TEVA PHARMACEUTICALS as a Buy with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation:
"We rate TEVA PHARMACEUTICALS (TEVA) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its solid stock price performance, compelling growth in net income, attractive valuation levels, good cash flow from operations and expanding profit margins. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook."