Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) and Perrigo Company (NYSE:PRGO; TASE:PRGO) today announced the launch of the generic equivalent to Temodar (temozolomide).
Teva will manufacture, market and distribute the product in the US and both companies will equally share in the cost and profitability of the product in the US. Teva was first to file, making the product eligible for 180 days of marketing exclusivity.
This product is the generic equivalent to Temodar (temozolomide) for the treatment of adult patients with newly diagnosed glioblastoma multiforme (brain tumor) together with radiotherapy and then as maintenance treatment and refractory anaplastic astrocytoma patients who have experienced disease progression on a drug regimen containing nitrosourea and procarbazine.
Temodar had annual sales of $423 million in the US last year, according to IMS data.
Perrigo chairman, president and CEO Joseph C. Papa said, “This first-to-file launch with our partner Teva is another example of our focus to manufacture complex API’s."
Teva Americas Generics president and CEO Allan Oberman said, “We are pleased to partner with Perrigo to offer patients a high-quality, less expensive alternative of this important medicine. This launch demonstrates Teva’s commitment to continue to pursue first-to-market opportunities and enhance the value of our portfolio by concentrating on high-margin, low competition markets."
Published by Globes [online], Israel business news - www.globes-online.com - on August 12, 2013
© Copyright of Globes Publisher Itonut (1983) Ltd. 2013