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BUZZ-AstraZeneca: generic Nexium arrives in US, 8 mths late

Reuters - UK Focus

** Generic version of AstraZeneca (NYSE: AZN - news) 's blockbuster heartburn & ulcer pill Nexium finally set to reach US mkt, 8 mths after medicine lost US exclusivity at end-May 2014

** Green light for Teva's generic follows manufacturing problems at India's Ranbaxy, which had been in line to market first copycat version. Teva's product set to be launched soon

** Deutsche Bank (Xetra: 514000 - news) says had assumed generic arrival at end-Q1 & extra 2 mths of US generic competition reduces core EPS forecasts by around 1 pct, with 2015 now seen at $4.23

** "This places further pressure on the achievement of guidance in the current year, which in turn leads us to expect additional non-operating gains to be booked in 2015," brokerage says. Management incentives only vest fully if EPS remains at or above $4.20 (RM (LSE: RM.L - news) : ben.hirschler.thomsonreuters.com@reuters.net)