PHARMACY

The Biggest Little Pharma in the World: Teva gets an “A” rating from Moody’s

BY Alaric DeArment

NEW YORK Moody’s Investors Service announced Wednesday that it had upgraded the ratings of generic drug maker Teva from Baa1 to A3, making the Israeli company the first generic drug company to achieve an “A” rating.

“The upgrade of Teva reflects a favorable growth outlook, clearly articulated financial targets and the expectation that M&A can be financed with debt levels appropriate for an A3 rating,” Moody’s SVP Michael Levesque said in a statement.

Moody’s said that Teva had continued to exhibit “very strong” operating performance and that upcoming generic launches, the increasing penetration of generic drugs and cost synergies from its acquisition of Barr Labs would result in additional growth. Recently, Teva announced plans to have more than $30 billion in revenues by 2015. With $15.3 billion in sales in 2008, Teva was the only generics company to make IMS Health’s list of the top 15 drug makers as measured by sales that year.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Which area of the industry do you think Amazon's entry would shake up the most?
PHARMACY

Study: Some African-American diabetics at risk of developing retinal disease

BY Alaric DeArment

NEW YORK African-American diabetics who consume large amounts of calories and sodium risk developing more severe retinal disease than those who don’t, according to a study published in the January issue of Archives of Ophthalmology.

Researchers at the New York University College of Dentistry and the New Jersey Medical School at the University of Medicine and Dentistry of New Jersey examined 469 African-American patients with Type 1 diabetes who enrolled in the study between 1993 and 1998, administering eye exams, blood tests and a diet questionnaire after a six-year follow-up.

Those with the highest caloric intake at the beginning of the study were more likely to develop retinopathy leading to vision loss by the end of the six-year period, while those with high sodium intake had the highest risk of developing macular edema.

“In African American patients with Type 1 diabetes, high caloric and sodium intakes are significant and independent risk factors for progression to severe forms of diabetic retinopathy,” the authors wrote. “These results suggest that low caloric and sodium intakes in African American individuals with Type 1 diabetes mellitus may have a beneficial effect on the progression of diabetic retinopathy and thus might be part of dietary recommendations for this population.”

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Which area of the industry do you think Amazon's entry would shake up the most?
PHARMACY

Google.org to expand Google Flu Trends tracking

BY Michael Johnsen

MOUNTAIN VIEW, Calif. Google.org on Tuesday announced on its blog site that it is expanding its Google Flu Trends tracking capabilities from the macro to the micro.

“We’ve been chatting with public health officials about new ways we can help people understand the spread of flu during this unusual time and today we’re excited to bring city level flu estimates to 121 cities in the United States,” the company wrote in its blog.

The city level estimates are “experimental,” the company cautioned, meaning they haven’t been validated against official data. However, the estimates are made in a similar manner to its U.S. national estimates, which have been validated.

In contrast to the unusually early spike of flu activity this October, Google Flu Trends is currently showing a low level of activity in the United States.

Google Flu Trends helps estimate flu trends in real time by tracking the popularity of certain Google search queries.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Which area of the industry do you think Amazon's entry would shake up the most?