The Ticker: Israel's Teva Shares Take New Tumble Amid Renewed Concerns About Copaxone Fallout

Teva's headquarters in Jerusalem.
Bloomberg

Teva shares take new tumble amid renewed concerns about Copaxone fallout

Teva Pharmaceuticals shares tumbled on Sunday amid renewed concerns about the fallout from its loss of Copaxone exclusivity. Generic competition for the company’s best-selling multiple sclerosis drug may force Teva to cut Copaxone’s price by 25% to 30%, to match rival Mylan’s generic version in both the 20- and 40-milligram dosages, analysts estimate. Investors are concerned that Teva will issue another fourth-quarter profit warning on top of the one it made earlier this month when Mylan and European generics were approved, for a decrease of 25 cents a share. They are also worried that declining profitability may complicate the company’s ability to repay its $35 billion in debt. And if that isn’t bad enough, a glut of Teva shares may come onto the market soon if Allergan opts to sell the 10% stake it got in Teva in the sale of its generic business to the Israeli company. Teva shares ended down 4.7% at 53.08 shekels ($15.16). (Yoram Gabison)

Collplant in tie-up with European company for 3-D printing of human tissue

Collplant, an Israeli company developing tissue-repair products based on recombinant human collagen derived from the tobacco plant, said Sunday it signed an agreement with an unnamed European medical-device maker to develop a prototype orthopedic implant using 3-D printing technology. Collplant will provide the biological ink it has developed for 3-D printing of human tissue. While the tie-up will only generate tens of thousands of dollars in revenue for the company, it marks another step forward in its bio-ink business – after winning its first-ever commercial order from a major company in the emerging field of making artificial organs using 3-D printing. In addition, Collplant said it was in talks with several foreign companies and research institutes about developing 3-D printing technology for artificial organs and tissue, a market that could reach $1.8 billion by the year 2022. Collplant shares finished down 0.3% at 59 agorot (17 cents). (Yoram Gabison

Shares gain after holiday break, paced by finance, tech sectors

Tel Aviv shares resumed trading on Sunday after a long holiday weekend, with gains led by financial-service and technology stocks. The TA-35 index climbed 0.5% to finish at 1,448.82 points, while the TA-125 added 0.6% to 1,319.52, on turnover of 641 million shekels ($183 million). Gains for financial-service stocks were paced by Harel’s 2.7% advance to 23.97 shekels and Migdal’s 2.2% rise to 4.01. Foresight led tech shares, surging 16.6% to end at 4.62. Other tech gainers included Nova, which rose 4.8% to 104.60, and Opko Health, which added 4% to end at 24.75. Paz Oil rose 1.8% to 573.50. Psagot cut Paz’s target price to 650, but recommended investors take advantage of recent lows to accumulate shares. On the losing side, El Al Airlines dropped sharply for the fourth session in five, losing 3.9% to end at 2.13 amid concerns about declining market share. Mannkind skidded 7% to 18.56 after a $61 million share sale last week. (Uri Tomer)