Teva Announces New Patient Access Program with Direct Relief to Provide Access to Inhalers for Uninsured Patients

Rhea-AI Summary

Teva Pharmaceuticals has launched a new patient access program in partnership with Direct Relief to provide free inhalers to uninsured patients in the United States. The program, running for a minimum of three years, will supply two generic inhaler products: generic versions of AirDuo®RespiClick® (maintenance inhaler) and ProAir® HFA (rescue inhaler).

The initiative aims to address accessibility issues for uninsured patients, as while 93% of Teva's inhaler medicines are generic products with lower prices for insured patients, uninsured individuals still face affordability challenges. Teva will donate the inhalers to Direct Relief for distribution through their network of free and charitable clinics. Additionally, Teva will provide a cash donation to cover program administration costs.

Positive

• Three-year commitment ensures stable supply of essential medications
• Program expands market reach into underserved communities
• Partnership with established distributor (Direct Relief) reduces operational costs

Negative

• None.

• Teva to provide two generic inhaler products to Direct Relief for its network of free and charitable clinics
• The program, launching this month, will run for a minimum of three years

PARSIPPANY, N.J., Dec. 11, 2024 (GLOBE NEWSWIRE) -- Teva Pharmaceuticals, Inc., a U.S. affiliate of Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA), announced today the launch of a new patient access program, in partnership with Direct Relief, to supply inhalers to eligible patients in the United States free of charge.

“In the United States, while 93% of Teva’s inhaler medicines are generic products with access at lower prices – particularly for insured patients – there still remain uninsured patients who cannot access affordable generic inhalers,” said Chris Fox, Executive Vice President, U.S. Commercial at Teva. “The aim of this program is to help address an unmet need in underserved communities nationwide, enhancing patient access to safe and affordable medicines delivered via inhalers, including both maintenance and rescue inhalers.”

Teva will make two inhaler products available through this program: generic versions of the AirDuo®RespiClick® (fluticasone propionate/salmeterol xinafoate maintenance inhaler) and ProAir® HFA (albuterol sulfate rescue inhaler). Teva will donate the inhalers to Direct Relief for distribution by request to free & charitable clinics, to then be dispensed to uninsured patients served by these clinics.

"Direct Relief is deeply grateful to Teva for this critical donation which will connect patients with respiratory treatments they otherwise would not have access to," said Katie Lewis, Regional Director, U.S. Programs for Direct Relief. "Free and charitable clinics offer quality care for underserved communities, and this donation will allow them to reach even more patients with these medications."

The program will continue for a minimum of three years to ensure reliable and continuous supply to these patients. In addition to donating the inhalers, Teva will make a cash donation to Direct Relief to cover the costs of administering this program.

Direct Relief, Teva’s long-time partner on access to medicines programs in the U.S. and around the world, is a nonprofit humanitarian organization that provides medical resources to resource-poor communities. It operates, by its own account, the largest charitable medicine program in the United States. Through its network, Direct Relief supports the dispensing of high-quality, no-cost medicines to low-income, uninsured patients at the point of care, thereby facilitating patient access to necessary medicines.

About Teva

Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) is a global pharmaceutical leader with a category-defying portfolio, harnessing our generics expertise and stepping up innovation to continue the momentum behind the discovery, delivery, and expanded development of modern medicine. For over 120 years, Teva's commitment to bettering health has never wavered. Today, the company’s global network of capabilities enables its ~37,000 employees across 58 markets to push the boundaries of scientific innovation and deliver quality medicines to help improve health outcomes of millions of patients every day. To learn more about how Teva is all in for better health, visit www.tevapharm.com.

Cautionary Note Regarding Forward-Looking Statements

This document and the presentation at the conference may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which are based on management’s current beliefs and expectations and are subject to substantial risks and uncertainties, both known and unknown, that could cause our future results, performance or achievements to differ significantly from that expressed or implied by such forward-looking statements. Important factors that could cause or contribute to such differences include risks relating to: our to successfully make our two inhaler products available through the new patient access program; our ability to successfully compete in the marketplace including our ability to successfully execute our Pivot to Growth strategy; our substantial indebtedness; our business and operations in general including the impact of global economic conditions and other macroeconomic developments and the governmental and societal responses thereto; compliance, regulatory and litigation matters; other financial and economic risks; and other factors discussed in our Quarterly Report on Form 10-Q for the third quarter of 2024 and in our Annual Report on Form 10-K for the year ended December 31, 2023, including in the sections captioned "Risk Factors.” Forward-looking statements speak only as of the date on which they are made, and we assume no obligation to update or revise any forward-looking statements or other information contained herein, whether as a result of new information, future events or otherwise. You are cautioned not to put undue reliance on these forward-looking statements.

IR Contacts			TevaIR@Tevapharm.com
PR Contacts	United States	Kelley Dougherty	(973) 658-0237
	Israel	Yonatan Beker Eden Klein	(973) 264 7378 972 (3) 906-2645

 

FAQ

What inhalers is TEVA providing through its new Direct Relief program?

TEVA is providing generic versions of AirDuo®RespiClick® (fluticasone propionate/salmeterol xinafoate maintenance inhaler) and ProAir® HFA (albuterol sulfate rescue inhaler).

How long will TEVA's inhaler donation program run?

The program will run for a minimum of three years to ensure reliable and continuous supply to patients.

Who is eligible for TEVA's free inhaler program?

The program is specifically designed for uninsured patients who receive care through Direct Relief's network of free and charitable clinics.

What percentage of TEVA's inhaler medicines are generic products in the US?

93% of TEVA's inhaler medicines are generic products in the United States.

How will TEVA's inhaler donation program be distributed?

The inhalers will be donated to Direct Relief for distribution by request to free and charitable clinics, which will then dispense them to eligible uninsured patients.