2 Generic Drug Makers With Growing Runways

Company Overview - Teva Pharmaceuticals is a leading generic drug maker with a portfolio of 500 generic medications and its own branded drugs [2][3] - The company has a well-established global distribution network, ensuring medications reach a worldwide patient base [3] Opioid Litigation Settlement - Teva has settled 99% of its opioid litigation cases for a total of $4.25 billion, to be paid out over 13 years [4] - The settlement includes $1.25 billion allocated for its generic version of Narcan, an overdose reversal medicine [4] Financial Performance - In Q1 2024, Teva reported earnings per share (EPS) of 48 cents, missing consensus estimates by 3 cents [5] - Revenues grew 4.3% year-over-year to $3.82 billion, surpassing consensus estimates of $3.73 billion [5] - The generics business saw a revenue increase of 9% year-over-year across all regions [5] Key Product Growth - Teva's brand drug Austedo for Huntington's Disease saw a revenue increase of 67% year-over-year, with a forecast of around $1.5 billion for 2024 [5] - The migraine medication Ajovy experienced an 18% year-over-year revenue growth, reaching $113 million [5] - Teva received FDA approvals for Simlandi and Selarsdi, generic versions of Humira and Stelara, respectively [5][6] Market Position and Stock Performance - Teva's stock is currently forming a daily pennant pattern, indicating potential price movements [7] - The stock price is noted at $16.90, with a 52-week range between $7.09 and $17.13 [2][7] Alvotech Overview - Alvotech is a biopharmaceutical company producing biosimilar medications, including generic versions of Humira and Stelara [2][8] - The company reported Q1 2024 revenues of $37 million, more than doubling from $16 million in the previous year [8] - Alvotech raised its full-year revenue guidance to between $400 million and $500 million [8]