The treatments are being developed by Teva Specialty Pharmaceuticals.
Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) US respiratory therapy unit, Teva Specialty Pharmaceuticals and UCB (Euronext: UCB) will jointly commercialize Teva’s US respiratory medicines. The first product to be jointly promoted in the US is Teva’s ProAir HFA (albuterol sulfate) inhalation aerosol. The agreement will cover additional treatments in future. Teva did not disclose the terms or the size of the deal.
Teva North America president and CEO William S. Marth said, “Over the last months we have undertaken a rich, strategic review globally across regions, therapy areas and business units. The respiratory therapy area has been identified as a key growth area given the incidence of asthma, allergic rhinitis, and COPD (chronic obstructive pulmonary disease). Our collaboration with UCB will help us achieve a stronger presence in this growing therapeutic area.”
Teva fell 0.64% in pre-market trading on Nasdaq today. The share rose 0.2% by mid-afternoon on the TASE.
Published by Globes [online], Israel business news - www.globes-online.com - on January 16, 2008
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