Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) has obtained US Food and Drug Administration (FDA) approval for its QNASL nasal aerosol for the treatment of nasal allergy rhinitis. The product will be available by prescription in April 2012 for people over the age of 12.
The dry nasal aerosol market has annual sales of $2.5 billion a year in the US.
The FDA approval is based on QNASL's successful safety and efficacy trial for the treatment of seasonal allergic rhinitis and perennial allergic rhinitis in adolescent and adults. The dose is given once a day.
Allergic rhinitis is the most common allergic disease in the US, affecting 10-30% of adults and adolescents.
Teva Global Respiratory Research SVP Dr. Tushar Shah said, "Approval of QNASL is a significant milestone for Teva Respiratory and represents our commitment to addressing the unmet needs of millions of Americans suffering from allergic rhinitis."
Teva's share price rose 1% by mid-afternoon on the TASE today to NIS 163.60, and rose 1.8% in premarket trading on Nasdaq, after closing at $43.07 on Friday, giving a market cap of $40.6 billion.
Published by Globes [online], Israel business news - www.globes-online.com - on March 26, 2012
© Copyright of Globes Publisher Itonut (1983) Ltd. 2012