Teva Pharmaceuticals (NYSE:TEVA) is the world's largest generic-drug maker. Somewhat ironically for a company that specializes in generics, its business is struggling at the moment as its own blockbuster patent-protected drug, Copaxone, just lost its patent protection in the U.S.

Two teams of competitive pharmaceutical companies with generics businesses are launching their own version of Copaxone as Teva's patent expires. One team consists of Mylan (NASDAQ:MYL) and India's Natco, while the other is driven by Momenta Pharmaceuticals (NASDAQ:MNTA) and Novartis (NYSE:NVS).

Those partnerships are willing to take on Teva with their own versions of Copaxone despite Teva's own incredibly strong generics business. That's a clear sign that they believe there's still some profit to be had from the drug, even as its patent-granted exclusivity expires.

Still, Teva's core generics business remains profitable, and it was that generics business that first made Teva an attractive pick for the real-money Inflation-Protected Income Growth portfolio. In the slideshow below, portfolio manager Chuck Saletta reviews Teva in light of the Copaxone patent loss and determines whether he'd be willing to buy more, hold on, or part ways with the generic pharmaceutical giant.

Teva Pharmaceuticals: Buy, Sell, or Hold? from The Motley Fool.

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