AstraZeneca – On the verge of a breakdown – Respiratory portfolio (Symbicort and Pulmicort) threatened by Generics

Date: 2015-07

The respiratory portfolio of AZN which so far has withstood generics attack, is now giving away. Yesterday’s court ruling invalidating pulmicort respule patent and Teva filing a MAA in Europe for a generic equivalent of Symbicort has really shaken AZN base business. In addition recently Apotex announced invalidation of AZN Crestor patent in the Australia ($350m annual sales in 2012). We revise our 2013 core EPS estimate from $4.7 per share to $4.6 per share.


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