Barclays on U.S. Specialty Pharmaceuticals: Muddling Now, but Opportunity Remains

June 19, 2012 3:48 PM EDT Send to a Friend
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Barclays on U.S. Specialty Pharmaceuticals: Muddling Now, but Opportunity Remains

Analyst, Douglas D. Tsao, said, "We continue to see long-term opportunity for the major generics makers in Europe, notably Mylan (NYSE: MYL), TEVA (Nasdaq: TEVA) & Watson (NYSE: WPI) post-Actavis closing, and, perhaps most importantly, early evidence that competitive dynamics are breaking in their favor, despite continued near-term headwinds which are forcing them to muddle through."

Tsao notes that despite investor controversy, Europe offers opportunities for MYL and TEVA, considering recent acquisitions in those markets by these companies. WPI is playing catch up. He also noted that 80% of all U.S. prescriptions are generic and 50% throughout Europe.

As far as pricing goes, Tsao does note the concern that there will be additional price cuts in certain markets, but it looks like the worst is now behind us. And, even though investors are split, Barclays is in the camp that feels Europe represents a long-term opportunity.


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