Teva shares are back in action

Israel based Teva Pharmaceutical Industries Ltd shares hit $37+ after few months struggle. At $37.48, Teva is in the mid-range of its 52-week range of $29.22-43.90 .

``Zoloft and Zocor were the biggest generic drugs, ever. They certainly had an impact,'' Chief Executive Officer Israel Makov, who will be succeeded by Shlomo Yanai next month, said at a press conference in Tel Aviv.

Teva began selling Azilect (Teva's brand drug for Parkinson's disease) in North America last year.

Israel based Teva Pharmaceutical Industries Ltd shares hit $37+ after few months struggle. At $37.48, Teva is in the mid-range of its 52-week range of $29.22-43.90 .

``Zoloft and Zocor were the biggest generic drugs, ever. They certainly had an impact,'' Chief Executive Officer Israel Makov, who will be succeeded by Shlomo Yanai next month, said at a press conference in Tel Aviv.

Teva began selling Azilect (Teva's brand drug for Parkinson's disease) in North America last year.

Reports say

Teva has 162 product applications awaiting approval from the U.S. FDA. These have brand sales of over $92 billion. Teva doesn't only have the largest pipeline in the U.S. generic drug industry, but 42 of the applications are potentially first- to-file, meaning these drugs would have 180-day exclusive sales rights if approved. The outgoing President and CEO Israel Makov said the company expects to receive 30-40 approvals in 2007.