Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) today announced that it has signed an agreement with Takeda Pharmaceutical Company Ltd. (TSE: 4502), Japan's largest drug company, allowing Takeda to commercialize Teva’s innovative treatment for Parkinson’s disease, rasagiline, in Japan. The size of the deal was not disclosed.
Rasagiline tablets, developed by Teva, are approved in over 40 countries for the treatment of Parkinson’s disease. Teva developed this product and received its first approval in 2005 in Israel and Europe, and is currently working towards the obtaining of marketing approval of this product in Japan. Under the terms of the agreement, Takeda will develop rasagiline tablets for the Japanese market and submit a New Drug Application for registration of the product in Japan.
In December 2013, Teva and Takeda announced an agreement to develop glatiramer acetate for the treatment of multiple sclerosis. Recognizing a high unmet need in the treatment options for Parkinson’s disease in Japan, the two companies have now entered into a further agreement in the central nervous system category.
"This agreement represents Teva’s continued commitment to introducing our innovative medicines to patients in Japan,” said Teva Global R&D president and Chief Scientific Officer Dr. Michael Hayden. “Rasagiline has an established safety and efficacy profile and is currently approved for use in over 40 countries, and will be an important product for Japan, where the number of available treatment options for Parkinson’s disease remains limited."
Published by Globes [online], Israel business news - www.globes-online.com - on April 28, 2014
© Copyright of Globes Publisher Itonut (1983) Ltd. 2014
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