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Expert Financial Analysis and Reporting

Antares Pharmaceuticals: Teva Launches AB Generic to Imitrex (ATRS, Buy, $1.06)

Teva announced today the launch of its AB rated generic to Imitex (sumatriptan). Remember that Antares books revenues from Teva with a one quarter lag so there should be no revenues reflected from the launch in the 2Q, 2016 report from Antares.

Teva will include this product in its bundling agreements for generics with pharmacies such as CVS and Walgreen’s. Because the product is AB rated it can be substituted for any prescription written for Imitrex or its authorized generic. It is not a matter of having a physician write a prescription. It is a matter of having the pharmacy stock the product. The broad generic product line of Teva in its bundle gives Teva a major advantage over other generic companies in the market in terms of getting the product stocked. Remember stocking is everything as all of the products are interchangeable. The current market for Imitrex is $200 million and there are three major competitors as shown in the next chart.


Sumatriptan Market



The timing of the launch is consistent with my estimate. Please refer to my my comprehensive report of April 26, 2016 called An Outstanding Pipeline Promises Dramatic Growth Through 2022  to see how this fits into my overall sales and earnings projections.


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