Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) will collaborate with California-based drug discovery and development company Auspex Pharmaceuticals Inc. to develop a promising deuterium-containing drug. The companies did not disclose the terms of the deal.
Deuterium is a hydrogen isotope known as heavy water. Auspex COO Dr. Andreas Sommer said, “Deuterium is a non-radioactive isotope of hydrogen that has been demonstrated to generate new chemical entities with unique and beneficial properties. This agreement demonstrates Auspex’s ability to build on its strong intellectual property position across multiple therapeutic areas."
Auspex acting CEO Dr. Pratik Shah added, "It is a reflection of our efforts to provide access to novel deuterated drugs that address significant market opportunities."
An analyst covering Teva said, "The objective is to develop drugs for treating multiple sclerosis. Teva is trying to expand its technology to develop drugs for multiple sclerosis. This is another link in the outsourcing chain that Teva is creating in its R&D. It has a great many collaborations with other companies. The financial significance for Teva is negligible. The potential, if realized, is in the distant future, and is not quantifiable at this time."
Teva's share price fell 1.8% on Nasdaq yesterday to $50.99, giving a market cap of $47.73 billion, and fell 1.3% by midday on the TASE today to NIS 183.10.
Published by Globes [online], Israel business news - www.globes-online.com - on December 21, 2010
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