
`
`
`
`Global Research
`
`4 January 2016
`
`
`
`
`
`
`
`
`
`U.S. Pharmaceuticals
`UBS Large Cap Pharmaceuticals Monthly Handbook
`
`
`
`What’s new? November TRx data
`This publication consists of monthly therapeutic market models, TRx
`growth trends, market share & sales estimates, and monthly promotion
`detail tables for key products within large cap pharmaceuticals.
`
`In diabetes, the DPP-IV class grew 8.5% Y/Y in November
`In diabetes, one of the key debates has been whether the SGLT-2 class will
`materially hurt the DPP-IV class after the readout of positive results from
`the EMPA-REG outcome study. Since the release in August, the share for
`the DPP-IV class has remained stable at 11.9%, and the Y/Y growth of
`8.5% in November was notable. With that said, it looks like the market
`share for the SGLT-2 class could be improving, as in November, the SGLT-2
`class gained 10 bps, up to 5.0% share from 4.9% in October, and
`Jardiance had a significant share gain (up 60 bps M/M) within the class at
`the expense of Farxiga and Invokana.
`
`The Alzheimer's, osteoporosis, ED markets have been declining
`The Alzheimer's, osteoporosis, and the erectile dysfunction markets
`continued to decline, with Alzheimer's down ~3% (-6% YTD), osteoporosis
`down ~2% (-6% YTD), and ED down -6% (-7% YTD).
`
`
`
`
`
`Figure 1: DPP-IV and SGLT-2 Market Share in Diabetes Market
`
`Figure 2: Market Growth for Alzheimer's, Osteo, and ED
`
`Equities
`
`Americas
`Pharmaceuticals
`
`
`
`
`
`Marc Goodman
`Analyst
`marc.goodman@ubs.com
`+1-212-713 1342
`Ami Fadia
`Analyst
`ami.fadia@ubs.com
`+1-212-713 6257
`Zidong Zhang
`Associate Analyst
`zidong.zhang@ubs.com
`+1-212-713 2603
`
`
`
`
`
`www.ubs.com/investmentresearch
`
`Source: IMS Health
`
`
`This report has been prepared by UBS Securities LLC. ANALYST CERTIFICATION AND REQUIRED DISCLOSURES BEGIN ON PAGE 103. UBS does and seeks to do business with companies
`covered in its research reports. As a result, investors should be aware that the firm may have a conflict of interest that could affect the objectivity of this report. Investors should consider this report
`as only a single factor in making their investment decision.
`
`Petitioner Mylan Pharmaceuticals Inc. - Exhibit 1051 - Page 1
`
`

`

`Marc Goodman
`Analyst
`marc.goodman@ubs.com
`+1-212-713 1342
`Ami Fadia
`Analyst
`ami.fadia@ubs.com
`+1-212-713 6257
`Zidong Zhang
`Associate Analyst
`zidong.zhang@ubs.com
`+1-212-713 2603
`
`
`
`
`
`Contents
`Figure 1: DPP-IV and SGLT-2 Market Share in Diabetes Market .............................................................................................................. 1
`Figure 2: Alzheimer's Market Growth .................................................................................................................................................... 1
`Figure 1: Anti-Infectives – HIV Annual .................................................................................................................................................... 8
`Figure 2: Anti-Infectives – HIV TRx Monthly ............................................................................................................................................ 9
`Figure 3: Anti-Infectives – HIV TRx Growth Rates ................................................................................................................................ 10
`Figure 4: Anti-Infectives – HIV Promotion Details Monthly ................................................................................................................... 11
`Figure 5: Blood – Anti-Clotting Annual ................................................................................................................................................ 12
`Figure 6: Blood – Anti-Clotting TRx Monthly ........................................................................................................................................ 13
`Figure 7: Blood – Anti-Clotting TRx Growth Rates ................................................................................................................................ 14
`Figure 8: Blood – Anti-Clotting Promotion Details Monthly .................................................................................................................. 15
`Figure 9: Blood – Novel Anticoagulant Annual ..................................................................................................................................... 16
`Figure 10: Blood – Novel Anticoagulant TRx Monthly ........................................................................................................................... 17
`Figure 11: Blood – Novel Anticoagulant TRx Growth Rates .................................................................................................................. 18
`Figure 12: Blood – Novel Anticoagulant Promotion Details Monthly ..................................................................................................... 19
`Figure 13: Cardiovascular – Cholesterol Annual ................................................................................................................................... 20
`Figure 14: Cardiovascular – Cholesterol Monthly ................................................................................................................................. 21
`Figure 15: Cardiovascular – Cholesterol TRx Growth Rates ................................................................................................................... 22
`Figure 16: Cardiovascular – Cholesterol Promotion Details Monthly ..................................................................................................... 23
`Figure 17: CNS – Depression/Anxiety Annual ....................................................................................................................................... 24
`Figure 18: CNS – Depression/Anxiety Monthly ..................................................................................................................................... 25
`Figure 19: CNS – Depression/Anxiety TRx Growth Rates ....................................................................................................................... 26
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` U.S. Pharmaceuticals 4 January 2016
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` 2
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`Petitioner Mylan Pharmaceuticals Inc. - Exhibit 1051 - Page 2
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`

`

`
`
`Figure 20: CNS – Depression/Anxiety Promotion Details Monthly ......................................................................................................... 27
`Figure 21: CNS – Fibromyalgia Annual ................................................................................................................................................. 28
`Figure 22: CNS – Fibromyalgia Monthly ............................................................................................................................................... 29
`Figure 23: CNS – Fibromyalgia TRx Growth Rates ................................................................................................................................. 30
`Figure 24: CNS – Fibromyalgia Promotion Details Monthly ................................................................................................................... 31
`Figure 25: CNS – Parkinson's Disease (Carbidopa – Levodopa) Annual ................................................................................................. 32
`Figure 26: CNS – Parkinson's Disease (Carbidopa – Levodopa) Monthly ............................................................................................... 33
`Figure 27: CNS – Parkinson's Disease (Carbidopa – Levodopa) TRx Growth Rates ................................................................................ 34
`Figure 28: CNS – Schizophrenia Annual ............................................................................................................................................... 36
`Figure 29: CNS – Schizophrenia Monthly ............................................................................................................................................. 37
`Figure 30: CNS – Schizophrenia TRx Growth Rates ............................................................................................................................... 38
`Figure 31: CNS – Schizophrenia Promotion Details Monthly ................................................................................................................. 39
`Figure 32: CNS – Sleep Disorder Annual .............................................................................................................................................. 40
`Figure 33: CNS – Sleep Disorders Monthly ........................................................................................................................................... 41
`Figure 34: CNS – Sleep Disorders TRx Growth Rates ............................................................................................................................. 42
`Figure 35: CNS – Sleep Disorders Promotion Details Monthly ............................................................................................................... 43
`Figure 36: Endocrinology – Diabetes (Non-Insulin) Annual ................................................................................................................... 44
`Figure 37: Endocrinology – Diabetes (Non-Insulin) Monthly .................................................................................................................. 45
`Figure 38: Endocrinology – Diabetes (Non-Insulin) TRx Growth Rates ................................................................................................... 46
`Figure 39: Endocrinology – Diabetes (Non-Insulin) Promotion Details Monthly ..................................................................................... 47
`Figure 40: Endocrinology – Diabetes DPP-IV Inhibitors Monthly ............................................................................................................ 48
`Figure 41: Endocrinology – Diabetes DPP-IV Inhibitors Monthly Continued .......................................................................................... 49
`
` U.S. Pharmaceuticals 4 January 2016
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` 3
`
`Petitioner Mylan Pharmaceuticals Inc. - Exhibit 1051 - Page 3
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`

`

`
`
`Figure 42: Endocrinology – Diabetes DPP-IV Inhibitors TRx Growth Rates ............................................................................................. 50
`Figure 43: Endocrinology – Diabetes DPP-IV Inhibitors Promotion Details Monthly ............................................................................... 51
`Figure 44: Endocrinology – Diabetes SGLT-2 Inhibitors Monthly ........................................................................................................... 52
`Figure 45: Endocrinology – Diabetes SGLT-2 Inhibitors TRx Growth Rates ............................................................................................ 53
`Figure 46: Endocrinology – Diabetes SGLT-2 Inhibitors Promotion Details Monthly .............................................................................. 54
`Figure 47: Endocrinology – Diabetes GLP-1 Monthly ............................................................................................................................ 55
`Figure 48: Endocrinology – Diabetes GLP-1 TRx Growth Rates ............................................................................................................. 56
`Figure 49: Endocrinology – Diabetes GLP-1 Promotion Details Monthly ................................................................................................ 57
`Figure 50: Endocrinology – Diabetes (Insulin) Annual ........................................................................................................................... 58
`Figure 51: Endocrinology – Diabetes (Insulin) Monthly ......................................................................................................................... 59
`Figure 52: Endocrinology – Diabetes (Insulin) TRx Growth Rates ........................................................................................................... 60
`Figure 53: Endocrinology – Diabetes (Insulin) Promotion Details Monthly ............................................................................................. 61
`Figure 54: Endocrinology – Pancreatic Enzymes Annual ....................................................................................................................... 62
`Figure 55: Endocrinology – Pancreatic Enzymes Monthly ..................................................................................................................... 63
`Figure 56: Endocrinology – Pancreatic Enzymes TRx Growth Rates ....................................................................................................... 64
`Figure 57: Endocrinology – Pancreatic Enzymes Promotion Details Monthly ......................................................................................... 65
`Figure 58: Inflammatory – US Multiple Sclerosis Annual ....................................................................................................................... 66
`Figure 59: Inflammatory – US Multiple Sclerosis Monthly ..................................................................................................................... 67
`Figure 60: Inflammatory – US Multiple Sclerosis TRx Growth Rates ...................................................................................................... 68
`Figure 61: Inflammatory – US Multiple Sclerosis Promotion Details Monthly ......................................................................................... 69
`Figure 62: Men’s Health – US Testosterone Annual .............................................................................................................................. 70
`Figure 63: Men’s Health – US Testosterone Monthly ............................................................................................................................ 71
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` U.S. Pharmaceuticals 4 January 2016
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` 4
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`Petitioner Mylan Pharmaceuticals Inc. - Exhibit 1051 - Page 4
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`

`

`
`
`Figure 64: Men’s Health – US Testosterone TRx Growth Rates ............................................................................................................. 72
`Figure 65: Men’s Health – US Testosterone Promotion Details Monthly ................................................................................................ 73
`Figure 66: Respiratory – COPD Annual ................................................................................................................................................. 74
`Figure 67: Respiratory – COPD Monthly ............................................................................................................................................... 75
`Figure 68: Respiratory – COPD TRx Growth Rates ................................................................................................................................ 76
`Figure 69: Respiratory – COPD Promotion Details Monthly ................................................................................................................... 77
`Figure 70: Respiratory – HFA Inhalers Annual ....................................................................................................................................... 78
`Figure 71: Respiratory – HFA Inhalers Monthly ..................................................................................................................................... 79
`Figure 72: Respiratory – HFA Inhalers TRx Growth Rates ...................................................................................................................... 80
`Figure 73: Respiratory – HFA Inhalers Promotion Details Monthly ......................................................................................................... 81
`Figure 74: Respiratory – Nasal Spray Annual ........................................................................................................................................ 82
`Figure 75: Respiratory – Nasal Spray Monthly ....................................................................................................................................... 83
`Figure 76: Respiratory – Nasal Spray TRx Growth Rates ........................................................................................................................ 84
`Figure 77: Respiratory – Nasal Spray Promotion Details Monthly .......................................................................................................... 85
`Figure 78: Urology – Erectile Dysfunction Annual ................................................................................................................................. 86
`Figure 79: Urology – Erectile Dysfunction Monthly ............................................................................................................................... 87
`Figure 80: Urology – Erectile Dysfunction TRx Growth Rates ................................................................................................................ 88
`Figure 81: Urology – Erectile Dysfunction Promotion Details Monthly ................................................................................................... 89
`Figure 82: Urology – US Overactive Bladder Annual ............................................................................................................................. 90
`Figure 83: Urology – US Overactive Bladder Monthly ........................................................................................................................... 91
`Figure 84: Urology – US Overactive Bladder TRx Growth Rates ............................................................................................................. 92
`Figure 85: Urology – US Overactive Bladder Promotion Details Monthly ............................................................................................... 93
`
` U.S. Pharmaceuticals 4 January 2016
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` 5
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`Petitioner Mylan Pharmaceuticals Inc. - Exhibit 1051 - Page 5
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`

`

`Figure 86: Women's Health – US Contraceptives Annual ..................................................................................................................... 94
`Figure 87: Women's Health – US Contraceptives Monthly ................................................................................................................... 95
`Figure 88: Women's Health – US Contraceptives TRx Growth Rates ..................................................................................................... 96
`Figure 89: Women's Health – US Contraceptives Promotion Details Monthly ....................................................................................... 97
`Figure 90: Women's Health – US Osteoporosis Annual ........................................................................................................................ 98
`Figure 91: Women's Health – US Osteoporosis Monthly ...................................................................................................................... 99
`Figure 92: Women's Health – US Osteoporosis TRx Growth Rates ...................................................................................................... 100
`Figure 93: Women's Health – US Osteoporosis Promotion Details Monthly ........................................................................................ 101
`
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` U.S. Pharmaceuticals 4 January 2016
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` 6
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`Petitioner Mylan Pharmaceuticals Inc. - Exhibit 1051 - Page 6
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`

`

`
`
`Figure 82: Urology – US Overactive Bladder Annual
`
`2011
`
`2012
`
`2013
`
`2014
`
`% of Total TRxs
`2015E
`2016E
`
`2017E
`
`2018E
`
`2019E
`
`2020E
`
`2011
`
`2012
`
`2013
`
`Total Sales ($ Millions)
`2014
`2015E
`2016E
`
`2017E
`
`2018E
`
`2019E
`
`2020E
`
`Total Category Rxs ('000)
` Growth Rate
`
`17,866
`-3.4%
`
`17,770
`-0.5%
`
`18,057
`1.6%
`
`18,373
`1.7%
`
`18,431
`0.3%
`
`18,431
`0.0%
`
`18,431
`0.0%
`
`18,431
`0.0%
`
`18,431
`0.0%
`
`18,431
`0.0%
`
`Sanctura XR - Allergan
`Sanctura - Allergan
`Generic Sanctura (Trospium)
`Generic Sanctura XR (Trospium)
`Vesicare - Astellas
`Oxytrol - Allergan
`Gelnique - Allergan
`Enablex - Allergan
`Generic Enablex (Darifenacin)
`Detrol LA - Pfizer
`Generic Detrol LA (Tolterodine)
`Detrol - Pfizer
`Generic Detrol (Tolterodine)
`Ditropan XL - J&J
`
`2.2%
`0.1%
`0.7%
`0.0%
`20.9%
`0.8%
`0.8%
`8.9%
`0.0%
`19.3%
`0.0%
`1.9%
`0.0%
`0.2%
`
`1.4%
`0.0%
`1.0%
`0.2%
`22.0%
`0.5%
`0.7%
`7.4%
`0.0%
`15.1%
`0.0%
`1.0%
`0.7%
`0.1%
`
`0.2%
`0.0%
`1.2%
`1.1%
`22.2%
`0.3%
`0.5%
`4.1%
`0.0%
`12.1%
`0.0%
`0.1%
`2.2%
`0.1%
`
`0.0%
`0.0%
`1.4%
`1.1%
`20.2%
`0.2%
`0.3%
`2.5%
`0.0%
`1.4%
`8.7%
`0.0%
`2.6%
`0.1%
`
`0.0%
`0.0%
`1.5%
`1.0%
`18.4%
`0.2%
`0.2%
`1.5%
`0.0%
`0.3%
`4.9%
`0.0%
`7.2%
`0.1%
`
`0.0%
`0.0%
`1.5%
`1.0%
`18.1%
`0.2%
`0.3%
`0.9%
`0.2%
`0.2%
`2.7%
`0.0%
`9.2%
`0.1%
`
`0.0%
`0.0%
`1.5%
`1.0%
`18.2%
`0.2%
`0.4%
`0.1%
`1.0%
`0.2%
`2.7%
`0.0%
`9.2%
`0.1%
`
`0.0%
`0.0%
`1.5%
`1.0%
`18.1%
`0.2%
`0.5%
`0.0%
`1.1%
`0.2%
`2.7%
`0.0%
`9.2%
`0.1%
`
`0.0%
`0.0%
`1.5%
`1.0%
`3.8%
`0.2%
`0.6%
`0.0%
`1.1%
`0.2%
`2.7%
`0.0%
`9.2%
`0.1%
`
`0.0%
`0.0%
`1.5%
`1.0%
`0.1%
`0.2%
`0.7%
`0.0%
`1.1%
`0.2%
`2.7%
`0.0%
`9.2%
`0.1%
`
`$53.8
`$3.0
`$7.7
`$0.0
`$202.9
`$14.0
`$20.8
`$170.0
`$0.0
`$512.4
`$0.0
`$44.6
`$0.0
`$5.8
`
`$35.4
`$0.9
`$10.0
`$17.8
`$277.0
`$14.3
`$19.0
`$170.0
`$0.0
`$447.1
`$0.0
`$38.9
`$12.5
`$4.7
`
`$5.5
`$0.6
`$10.8
`$21.6
`$746.6
`$15.8
`$12.5
`$126.3
`$0.0
`$345.0
`$0.0
`$30.0
`$26.4
`$3.8
`
`$1.2
`$0.4
`$10.4
`$19.9
`$822.9
`$12.6
`$8.3
`$80.0
`$0.0
`$49.7
`$262.7
`$4.3
`$22.3
`$3.5
`
`$0.0
`$0.0
`$8.6
`$14.7
`$788.2
`$3.9
`$6.2
`$61.3
`$0.0
`$12.2
`$17.4
`$0.7
`$56.5
`$2.8
`
`$0.0
`$0.0
`$6.9
`$11.7
`$815.4
`$4.2
`$8.4
`$34.7
`$10.0
`$9.0
`$8.7
`$0.6
`$65.4
`$2.6
`
`$0.0
`$0.0
`$5.5
`$9.3
`$862.6
`$4.4
`$13.0
`$4.4
`$6.7
`$9.2
`$7.8
`$0.6
`$58.9
`$2.6
`
`$0.0
`$0.0
`$4.4
`$7.5
`$899.6
`$4.6
`$18.0
`$1.1
`$5.4
`$9.5
`$7.0
`$0.6
`$53.0
`$2.5
`
`$60.4
`$0.0
`$46.1
`
`$0.0
`$0.0
`$3.5
`$6.0
`$196.8
`$4.9
`$23.5
`$1.2
`$4.0
`$9.8
`$6.3
`$0.6
`$47.7
`$2.4
`
`$54.4
`$0.0
`$42.1
`
`$0.0
`$0.0
`$2.8
`$4.8
`$6.1
`$5.1
`$29.4
`$1.3
`$3.0
`$10.1
`$5.7
`$0.7
`$42.9
`$2.3
`
`$48.9
`$0.0
`$43.6
`
`Generic Ditropan XL (Oxybutynin)
`Ditropan - J&J
`Generic Ditropan (Oxybutynin)
`
`Urispas - J&J
`
`Generic Urispas (Flavoxate)
`Toviaz - Pfizer
`Myrbetriq - Astellas
`Others
`Total
`Growth Rate
`
`19.6%
`0.0%
`20.4%
`
`0.0%
`
`21.9%
`0.0%
`23.1%
`
`0.0%
`
`23.9%
`0.0%
`23.6%
`
`0.0%
`
`26.0%
`0.0%
`23.9%
`
`0.0%
`
`26.7%
`0.0%
`24.4%
`
`0.0%
`
`27.4%
`0.0%
`23.4%
`
`0.0%
`
`27.4%
`0.0%
`22.8%
`
`0.0%
`
`27.4%
`0.0%
`22.6%
`
`0.0%
`
`27.4%
`0.0%
`20.6%
`
`0.0%
`
`27.4%
`0.0%
`21.4%
`
`0.0%
`
`0.2%
`0.2%
`0.2%
`0.2%
`0.2%
`0.2%
`0.3%
`0.3%
`0.4%
`0.4%
`4.3%
`4.3%
`4.3%
`4.3%
`4.3%
`4.6%
`5.3%
`5.4%
`4.5%
`3.9%
`11.0%
`10.9%
`10.8%
`10.6%
`10.3%
`8.9%
`5.9%
`2.7%
`0.1%
`0.0%
`18.8%
`16.1%
`0.1%
`0.0%
`0.0%
`0.0%
`0.0%
`0.0%
`0.0%
`0.0%
`100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%
`
`Source: Company reports, IMS database and UBS estimates
`
`$90.8
`$0.0
`$6.2
`
`$0.0
`
`$2.0
`$94.0
`$0.0
`$0.0
`$1,228.0
`-10.0%
`
`$82.0
`$0.0
`$9.3
`
`$0.0
`
`$1.8
`$115.2
`$8.9
`$0.0
`$1,264.7
`3.0%
`
`$83.5
`$0.0
`$29.4
`
`$0.0
`
`$1.4
`$120.0
`$96.0
`$0.0
`$1,675.2
`32.5%
`
`$87.1
`$0.0
`$48.7
`
`$0.0
`
`$80.7
`$0.0
`$49.7
`
`$0.0
`
`$74.6
`$0.0
`$47.7
`
`$0.0
`
`$67.1
`$0.0
`$46.6
`
`$0.0
`
`$0.0
`
`$0.0
`
`$0.0
`
`$0.9
`$1.1
`$121.8
`$133.0
`$252.6
`$237.2
`$0.0
`$0.0
`$1,478.4
`$1,805.2
`7.8% -18.1%
`
`$0.9
`$142.3
`$299.9
`$0.0
`$1,542.8
`4.4%
`
`$0.9
`$142.3
`$314.6
`$0.0
`$1,556.5
`0.9%
`
`$0.9
`$0.9
`$0.9
`$142.3
`$142.3
`$142.3
`$346.8
`$336.3
`$326.1
`$20.7
`$17.2
`$0.1
`$717.5
`$899.9
`$1,589.1
`2.1% -43.4% -20.3%
`
`
`
` U.S. Pharmaceuticals 4 January 2016
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`
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` 90
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`Petitioner Mylan Pharmaceuticals Inc. - Exhibit 1051 - Page 7
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`

`

`
`
`Figure 85: Urology – US Overactive Bladder Promotion Details Monthly
`
`# of Details for Tot. Category ('000s)
`Total Category
`Growth rate
`
`Jan-15
`2014
`2013
`65
`758
`919
`-14.6% -17.5% -0.7%
`
`Feb-15
`70
`9.5%
`
`Feb-15
`0.3%
`0.5%
`22.6%
`
`0.0%
`0.0%
`4.2%
`1.2%
`0.0%
`22.7%
`
`Mar-15
`80
`-2.5%
`
`Mar-15
`0.3%
`0.6%
`32.0%
`
`0.0%
`0.3%
`1.0%
`0.0%
`0.2%
`15.5%
`
`Apr-15
`59
`-2.3%
`
`Apr-15
`0.0%
`0.3%
`19.1%
`
`0.0%
`0.4%
`1.3%
`0.6%
`0.0%
`22.1%
`
`May-15
`58
`-20.4%
`
`May-15
`0.4%
`0.0%
`27.9%
`
`0.3%
`0.0%
`1.7%
`0.8%
`0.0%
`16.6%
`
`Jun-15
`51
`-8.8%
`
`Jun-15
`0.5%
`0.3%
`17.1%
`
`0.0%
`0.0%
`1.2%
`0.3%
`0.4%
`26.6%
`
`Jul-15
`57
`-15.6%
`
`Jul-15
`0.0%
`0.8%
`26.0%
`
`0.0%
`0.3%
`2.8%
`0.4%
`1.0%
`21.0%
`
`Aug-15
`66
`-2.6%
`
`Aug-15
`0.4%
`0.5%
`32.7%
`
`0.0%
`0.3%
`1.2%
`1.1%
`0.0%
`13.2%
`
`Sep-15
`56
`-3.9%
`
`Sep-15
`0.0%
`1.1%
`34.3%
`
`2.5%
`0.0%
`2.5%
`0.0%
`0.0%
`16.1%
`
`2013
`0.3%
`0.5%
`26.7%
`
`0.1%
`2.2%
`6.7%
`1.7%
`0.2%
`20.0%
`
`2014
`0.4%
`0.7%
`21.9%
`
`0.1%
`0.2%
`5.9%
`1.1%
`0.4%
`21.8%
`
`Jan-15
`0.4%
`0.3%
`26.4%
`
`0.0%
`0.0%
`2.9%
`2.5%
`0.3%
`15.5%
`
`Market Share
`Sanctura XR - Allergan
`Sanctura - Allergan
`Vesicare - GlaxoSmithKline
`
`Oxytrol - Allergan
`Gelnique - Allergan
`Enablex - Allergan
`Detrol LA - Pfizer
`Detrol - Pfizer
`Toviaz - Pfizer
`
`Total
`
`Source: IMS database
`
`
`
`
`
`Oct-15 YTD 2015
`72
`634
`18.5%
`-3.2%
`
`Oct-15 YTD 2015
`0.0%
`0.2%
`0.5%
`0.5%
`26.7%
`26.8%
`
`0.0%
`0.1%
`1.1%
`0.0%
`2.6%
`16.9%
`
`0.2%
`0.1%
`2.0%
`0.7%
`0.5%
`18.4%
`
`100.0%
`
`
`
`100.0%
`
`100.0%
`
`100.0%
`
`100.0%
`
`100.0%
`
`100.0%
`
`100.0%
`
`100.0%
`
`100.0%
`
`100.0%
`
`100.0%
`
`100.0%
`
` U.S. Pharmaceuticals 4 January 2016
`
`
`
` 93
`
`Petitioner Mylan Pharmaceuticals Inc. - Exhibit 1051 - Page 8
`
`

`

`
`
`Required Disclosures
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`
`12-Month Rating
`
`Definition
`
`Buy
`
`Neutral
`
`Sell
`
`FSR is > 6% above the MRA.
`
`FSR is between -6% and 6% of the MRA.
`
`FSR is > 6% below the MRA.
`
`Short-Term Rating
`
`Definition
`
`Buy
`
`Stock price expected to rise within three months from the time the rating was assigned because
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`
`Coverage1
`
`IB Services2
`
`49%
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`40%
`
`12%
`
`33%
`
`26%
`
`18%
`
`Coverage3
`
`IB Services4
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`less than 1%
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`less than 1%
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`Sell
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`
` U.S. Pharmaceuticals 4 January 2016
`
`
`
` 103
`
`Petitioner Mylan Pharmaceuticals Inc. - Exhibit 1051 - Page 9
`
`

`

`
`
`EXCEPTIONS AND SPECIAL CASES: UK and European Investment Fund ratings and definitions are: Buy: Positive on factors such as structure, management, performance record,
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`Additional Prices: Pfizer Inc., US$32.28 (31 Dec 2015); AbbVie, US$59.24 (31 Dec 2015); Merck & Co., US$52.82 (31 Dec 2015); Lilly (Eli) & Co., US$84.26 (31 Dec 2015); Bristol-Myers
`Squibb, US$68.79 (31 Dec 2015); Source: UBS. All prices as of local market close.
`
`
`
` U.S. Pharmaceuticals 4 January 2016
`
`
`
` 104
`
`Petitioner Mylan Pharmaceuticals Inc. - Exhibit 1051 - Page 10
`
`

`

`
`
`
`
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