Teva Pharmaceutical Industries launched two new digital inhalers AirDuo Digihaler and ArmonAir Digihaler in the US for patients with Asthma. With these two launches, the company’s US affiliate Teva Respiratory, LLC completed its portfolio of digitally connected inhalers.
Teva’s (TEVA) AirDuo Digihaler (fluticasone propionate and salmeterol) inhalation powder is used to control symptoms of asthma and to prevent symptoms such as wheezing in people 12 years of age and older. The ArmonAir Digihaler (fluticasone propionate) inhalation powder is for the long-term treatment of asthma in patients 12 years and older. These two inhalers are commercially available to patients by prescription.
The company stated that both these inhalers are not used to relieve sudden breathing problems from asthma and will not replace the need for a rescue inhaler.
These new products are equipped with built-in Bluetooth Wireless Technology which connects to a mobile app and provides data on inhaler use, which is recorded when the cap is opened or a patient inhales. The two new inhalers are part of Teva’s Digihaler portfolio, which also includes ProAir Digihaler, the first and only digital rescue inhaler.
Meanwhile, the Street is on the sidelines with a Hold consensus for Teva based on 2 Buys, 7 Holds and 1 Sell rating. Teva stock has plunged 8.8% year-to-date. The average analyst price target of $12.33 suggests a possible upside of 38% in the coming months.
Last month, Merrill Lynch analyst Jason Gerberry reiterated a Sell rating for Teva with a price target of $8 following reports that the US Department of Justice indicted Teva, alleging that it participated in three different drug price-fixing conspiracies.
Given the high bar for establishing such conduct in court, Gerberry stated that the real risk associated with the indictment for Teva investors will be the costs associated with a potential multi-year legal defense and/or a settlement. “Based on prior settlements we assume $1bn in contingent liability for TEVA for generic price fixing matters,” Gerberry stated in a research note. (See TEVA stock analysis on TipRanks)
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