Moody's reviews Nycomed

Moody's Investors Service said it placed the B1 corporate family rating and the B2 probability-of-default rating of Nycomed A/S on review for downgrade following the end of the standstill on the launch of generic Protonix (Pantoprazole) in the United States by Teva.

Wyeth and Nycomed have since decided to launch their own generics.

"Nycomed's cash-flow generation is likely to be materially affected by Protonix generics in the U.S. and credit metrics might be impacted going forward," Jean-Michel Carayon, a senior vice president in Moody's corporate finance group, said in a written statement.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.