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Teva Pharmaceutical Industries Limited (NASDAQ: TEVA) is a leading Israeli multinational pharmaceutical company headquartered in Tel Aviv, Israel. As the world's largest generic drug manufacturer, Teva plays a pivotal role in the global healthcare industry. The company derives approximately 50% of its sales from North America, contributing significantly to the total number of generic prescriptions in the United States.
Teva's extensive portfolio includes not only generic drugs but also active pharmaceutical ingredients (APIs) and proprietary pharmaceuticals. The company's operations are categorized into three main therapeutic areas:
- Central Nervous System (CNS): Featuring notable products such as Copaxone, Ajovy, and Austedo, Teva addresses critical CNS disorders with innovative treatments.
- Respiratory: Products like Qvar and ProAir contribute to Teva's robust respiratory medicine lineup, catering to patients with various respiratory conditions.
- Oncology: Teva's oncology portfolio includes groundbreaking medicines such as Truxima, Herzuma, and Bendeka/Treanda, providing essential treatments for cancer patients.
In addition to its pharmaceutical products, Teva is a major player in active pharmaceutical ingredients, offering contract manufacturing services and owning Anda, a U.S.-based distributor of generic and specialty drugs.
Teva's global presence extends beyond North America, with significant operations in Europe, Japan, Russia, and its home country, Israel. The company's strategic partnerships and innovations keep it at the forefront of the pharmaceutical industry. Recent developments include advancements in biosimilars and innovative treatments.
Financially, Teva continues to maintain a strong position, focusing on growth and resilience amidst market challenges. The company is committed to improving patient health worldwide by providing high-quality, affordable medicines.
Pyramid Biosciences has expanded its leadership team by appointing Biren Amin as Chief Financial and Strategy Officer. Amin, previously CFO at Immuneering Corporation (NASDAQ: IMRX), brings over two decades of experience in oncology and biotechnology. The company is focused on developing precision therapies for cancer, particularly with its lead program PBI-200, a TRK inhibitor for NTRK fusion-driven cancers. The CEO expressed confidence in Amin's expertise to guide corporate strategy and advance the product pipeline during a period of significant growth for the company.
Teva Pharmaceutical Industries announced findings from the CONNECT clinical program regarding the ProAir Digihaler System, designed to enhance asthma control. The CONNECT1 trial assessed 333 asthma patients over 12 weeks and compared the Digihaler's effects on asthma management against standard care. Initial results will be presented at the European Respiratory Society Congress on September 6, 2022, focusing on asthma control improvements and enhancing patient-physician interactions. The ProAir Digihaler incorporates an electronic module to track inhaler use and support informed treatment decisions.
Teva Pharmaceuticals has received Marketing Authorization from the European Commission for Ranivisio (ranibizumab), a biosimilar to Lucentis, targeting age-related macular degeneration (AMD) and four other ophthalmology indications. AMD currently affects approximately 67 million individuals in Europe and is predicted to impact up to 77 million by 2050. Teva aims to commercialize this product across Europe through a partnership with Bioeq AG, following its UK launch in July 2022 under the name ONGAVIA®.
Teva Pharmaceutical Industries Ltd. has agreed in principle on the primary financial terms of a nationwide opioids settlement, revising its provision to reflect this. The company reported Q2 2022 revenues of $3.8 billion, with a GAAP diluted loss per share of $0.21 and a non-GAAP diluted EPS of $0.68. The 2022 revenue outlook has been revised down to $15.0 - $15.6 billion, mainly due to foreign exchange headwinds and increased competition for COPAXONE®, which is now expected to generate around $700 million. The company aims to finalize the settlement documentation soon.
Teva Pharmaceuticals has reached a settlement with the City and County of San Francisco regarding opioid-related claims, providing $24.8 million over 13 years and $20 million worth of generic Narcan over 10 years. This settlement, while not an admission of liability, aims to deliver life-saving treatments for opioid addiction. Previously, a California Superior Court judge found that Teva did not cause a public nuisance related to opioids in several counties. Teva continues to pursue a nationwide settlement in the interest of those benefiting from its medicines.
Teva Pharmaceutical Industries Ltd. announced the appointment of Eric A. Hughes as Executive Vice President, Global R&D and Chief Medical Officer, effective August 1, 2022. Dr. Hughes brings nearly 20 years of experience in drug development, previously serving at Vertex Pharmaceuticals and Novartis. His expertise in leading clinical development and collaborations is expected to enhance Teva's Global R&D initiatives. CEO Kåre Schultz expressed gratitude to former executive Dr. Hafrun Fridriksdottir for her 25 years of service while highlighting the potential growth opportunities with Dr. Hughes's leadership.
Teva Pharmaceutical Industries Ltd. (NYSE: TEVA) will release its second quarter 2022 financial results on July 27, 2022, at 7:00 a.m. ET. Following the release, a conference call and live webcast will take place at 8:00 a.m. ET. Interested participants can register here.
The live webcast can be accessed on Teva's website. A replay will be available within 24 hours.
Teva Pharmaceuticals announced promising interim results from its Pan-European Real World study (PEARL) at the European Academy of Neurology Congress in Vienna. The study, evaluating the effectiveness of AJOVY® (fremanezumab) for chronic and episodic migraine, showed that 54.7% of the 389 patients analyzed experienced a reduction of 50% or more in monthly migraine days over six months. The study aims to provide real-world evidence to improve treatment access and outcomes for migraine patients across diverse European populations.
Teva Pharmaceutical Industries Ltd. (NYSE: TEVA) and Auspex Pharmaceuticals have settled a patent dispute with Aurobindo concerning Aurobindo's ANDA for a generic version of Teva's AUSTEDO (deutetrabenazine). The agreement ends the litigation in the U.S. District Court for New Jersey, allowing Aurobindo to sell its generic product starting in April 2033 or earlier under specific conditions. Teva asserts the agreement underscores the strength of its intellectual property for AUSTEDO, which treats chorea associated with Huntington's disease and tardive dyskinesia.
Teva Pharmaceuticals has released results from a retrospective U.S. study demonstrating the effectiveness of AJOVY (fremanezumab-vfrm) in reducing monthly migraine days when used with gepants for acute treatment. At study initiation, patients averaged 15.8 monthly migraine days, which decreased by 6.5 days (41.1% reduction) post-treatment. This data, presented at the 2022 AHS Annual Meeting, highlights AJOVY's potential in managing migraines across diverse patient populations. However, 9.1% of patients reported adverse events, including injection site reactions and uveitis.
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