Teva fears profit plunge as patent on multiple sclerosis drug runs out

Teva said its forecasts assume the launch in early 2014 of a longer-lasting version of the MS drug that would be injected three times a week, with the company aiming to move patients taking its current daily drug to the new offering.

Teva Pharmaceutical Industries, the world's biggest generic drugmaker, forecast a big drop in profit in 2014 if cheap generic competition to its blockbuster multiple sclerosis treatment Copaxone is launched.  Israel-based Teva provided on Tuesday two sets of forecasts for next year - one assuming the launch of at least two generic competitors to Copaxone in the United States on June 1, 2014, and the other assuming no U.S. generic competition in 2014.

Assuming Copaxone does face competition, Teva estimates it will earn $4.20 to $4.50 a share on an adjusted basis on revenue of $19.3 billion to $20.3 billion. Without competition, Teva projects earnings of $4.80-$5.10 a share on revenue of $19.8 billion to $20.8 billion.  Analysts forecast the company would earn $4.94 a share on revenue of $20 billion in 2014, according to Thomson Reuters I/B/E/S. In 2013, analysts project Teva will earn $4.99 per share on revenue of $20.1 billion.