there are (6) reports 5 pos .one neg.

TEVA: Phase III Trial Confirmed!
Company Data
ASX Code
Share Price
Shares on issue
Market capitalisation
12 month price range
ASX turnover (Shares, Nov 12)
MSB
$5.83
287,132,832
$1.5b
$5.44 - $8.11
11.0m
Board of Directors Brian Jamieson Silviu Itescu Michael Spooner Donal O’Dwyer Ben-zion Weiner Chairman (Non-Exec) MD & CEO Non-Exec. Dir. Non-Exec. Dir. Non-Exec. Dir.
Major Shareholders Silviu Itescu Teva Pharmaceuticals M&G Investment Funds Thorney Holdings 23.8% 19.4% 11.2% 4.9%
Share Price Chart
Source: FactSet
Mesoblast (MSB) is an Australian Stock Exchange (ASX) listed biotechnology company focussed on developing a suite of products based on its proprietary adult stem cell technology. This note looks at Teva Pharmaceuticals Analyst Day presentation as it pertains to the licences its holds for certain applications of Mesoblast’s stem cells.
Event: Teva Pharmaceutical Industries (NYSE: TEVA) held its Analyst Day early this morning Australian Eastern Standard Time. During question time, Dr Michael Hayden, Teva’s President, Global R&D and Chief Scientific Officer, stated clearly that Teva would commence a phase III clinical trial of Mesoblast’s stem cells in congestive heart failure in approximately 1700 patients in 2013. It was also clearly stated that the trial would involve an early interim analysis of the data.
Comment: Mesoblast has remained steadfast that Teva is committed to their relationship and today’s comments by Dr Hayden irrefutably confirm that is the case. It also clears up any uncertainty that has developed in the market as to whether Teva would move forward with the proposed phase III congestive heart failure trial. The answer from Teva is clearly, yes they will.
It was also noted in the presentation that Teva was discontinuing the development of StemEx, a cord blood expansion product which Teva had been developing in a joint venture with Israeli-based Gamida Cell Ltd. Teva is partnered with Mesoblast on a cord blood expansion product and the discontinuation of StemEx appears to be a distinct positive for Mesoblast and the development of its expansion product.
During Teva’s presentation it was also made clear that one of Teva’s main areas of focus going forward will be diseases of the central nervous system (CNS, neurological diseases). Teva holds licenses to Mesoblast’s stem cells in this area and Teva’s decision to focus on CNS diseases is also clearly a positive for Mesoblast.
We view today’s presentation by Teva as strongly positive for Mesoblast for the following reasons:
1) It clearly indicates that Mesoblast’s relationship with Teva is in good shape.
2) It provides certainty regarding the commencement of a phase III trial of Mesoblast’s stem cells for the treatment of congestive heart failure in 2013.
3) It suggests Mesoblast’s cord blood expansion product has a solid future with Teva.
4) Teva’s clearly stated focus on CNS diseases going forward fits strongly with licenses it holds to neurological applications of Mesoblast’s stem cells.
Conclusion: It is clear that Teva is committed to Mesoblast and to developing the products that form the heart of their relationship. Speculation regarding the strength of the Mesoblast-Teva relationship has been questioned by others and this, in turn, has weighed on Mesoblast’s share price. This weight should be lifted today and Mesoblast’s share price should rise sharply.....V