Teva's stock closed down 53 cents Friday at $40.73.
Copaxone generates about 20 percent of Teva's $20 billion in annual revenue and, according to Teva's 2012 annual report, accounted for "a very significant contribution to our profits."
Based in Israel, Teva's Americas headquarters is in North Wales, Montgomery County. Teva previously said it would cut $1.5 billion to $2 billion from its budget by 2015. It plans to close its plant in Sellersville, Bucks County, in 2017.
Teva said in a statement Friday that it was "disappointed" with the decision and would appeal, perhaps directly to the Supreme Court. Teva said the FDA should require generic versions of complex injectable drugs such as Copaxone to meet the same standards as the orginal.
However, the FDA has been moving the other way, said Bernstein Research analyst Ronny Gal.
"The agency approved most pending complex products," Gal wrote in a recent note to clients. "It has also provided guidance alleviating clinical requirements for several other drugs previously considered 'undoable.' "
Mylan Laboraties Inc., with headquarters in Canonsburg, Pa., was on the winning side of the decision.
"We are very pleased with today's ruling," Mylan chief executive Heather Bresch said in a statement, "and we expect that it will allow Mylan to launch its generic version of Copaxone on May 25, 2014," pending expiration of the patents and FDA approval.
Contact David Sell at 215-854-4506 or firstname.lastname@example.org, or follow on Twitter @phillypharma. Read his blog at www.inquirer.com/phillypharma.