Teva provides weak '13 outlook

Investor's Business Daily

Shares of the Israeli developer of generic and branded drugs to treat multiple sclerosis, Parkinson's and other diseases fell after it said it expects '13 EPS to be in the range of $4.85-$5.15, below Wall Street's target of $5.71. Teva Pharmaceutical's biggest proprietary drug, MS drug Copaxone, is about to face more competition. Sanofi (SNY) recently launched Abugaio and Biogen Idec's (BIIB) BG 197 is expected to come to market early next year. Teva shares rose 0.4% to 40.39. Sanofi fell 1% to 44.62 and Biogen Idec fell 0.8% to 149.09.

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