MedinCell: further decline, Uzedy forecasts disappoint

(CercleFinance.com) - MedinCell's share price continued to fall on Thursday, as yesterday's forecasts for Uzedy, the schizophrenia treatment developed in collaboration with Teva, disappointed the market.


Shortly before 11:00 a.m., the biopharmaceutical company's shares lost more than 3%, having already dropped more than 4.5% on Wednesday.

The stock had widened its losses in the afternoon following the release of a press release on Uzedy's annual sales for 2024 and the drug's outlook for 2025.

Teva recorded sales of $117 million for Uzedy in the past financial year, exceeding the $100 million target the Israeli laboratory had set itself last November.

This product, approved by the US FDA in April 2023 and distributed in the USA by Teva, incorporates the long-acting injectable delivery technology developed by the Montpellier-based company.

Looking ahead to 2025, Teva said it was targeting an initial forecast of $160 million in sales for Uzedy, an estimate deemed 'too conservative' by analysts in view of the recent acceleration in sales momentum.

The market seems to believe that this target is too low in relation to the expected ramp-up in sales over 2024", commented Allinvest Securities.

For the record, Medincell - which receives royalties of between 5% and 9% ("mid- to high-single digit") on net sales of the drug - is also eligible for $105 million in milestone payments.

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