Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) has licensed Copaxone (glatiramer acetate) to Takeda Pharmaceutical Company Ltd. (TSE: 4502) in Japan. The companies are working on additional agreements for implementation of the license. The companies did not disclose the financial terms of the agreement. Japan will be a large and brand new market for the multiple sclerosis treatment.
Teva will grant Takeda commercialization rights in Japan, and Takeda will submit a New Drug Application for registration of glatiramer acetate in Japan. The companies will work together to provide a new treatment options to patients with multiple sclerosis in Japan as early as possible, where the current available therapies are still limited.
Copaxone is indicated for the reduction of the frequency of relapses in relapsing-remitting multiple sclerosis. It is designated as an orphan drug in Japan, and is currently under development as an Unapproved New Drug by Teva Pharmaceutical KK, at the request of Japan's Ministry of Health, Labor and Welfare.
Published by Globes [online], Israel business news - www.globes-online.com - on December 4, 2013
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