The ripple effects from last week's Teva v. Sandoz ruling have begun. The U.S. Supreme Court sent three patent fights back to a lower court in light of that ruling, which ordered the Federal Circuit Court to defer to district-level findings on patent claims unless a "clear error" had been made.
Eight months after OncoGenex Pharmaceuticals and Teva acknowledged that their experimental cancer drug custirsen had flopped in a Phase III prostate cancer study, the big Israeli pharma company has executed a strategic retreat from their partnership. Teva is handing over $27 million to OncoGenex to complete the divorce and is walking away from a deal that included $60 million in upfront costs back in 2009.
Troubled Teva is circling its research wagons around CNS and respiratory diseases, carving out more than $500 million in research costs over the next three years with plans to shelve or spin out 14 clinical programs as it retreats from women's health and oncology.
When Europe's drug approval gatekeepers meet, they often tick off recommendations for some key Big Pharma products. This week, the Committee for Medicinal Products for Human Use backed a whopping 15 new meds and 3 new indications.
We've seen what happens when a big drug goes generic. Plants close, sales reps lose their jobs. As the impending shutdown of a Teva Pharmaceutical Industries unit shows, the same is true for an on-patent drug flop.
Teva is inching toward an FDA application for reslizumab, touting positive late-stage results for an asthma antibody passed around for years in multiple buyouts.
One of the key strategies being pursued by Teva Pharmaceutical Industries to protect itself against generic competition to Copaxone is to switch patients over to its new longer-lasting version of the drug. And in the U.S., the drugmaker is just over halfway there.
European antitrust regulators may have been a little late to the party when it comes to pay-for-delay actions but are making up for lost time. Sources are saying they will levy fines against French drugmaker Servier and Teva Pharmaceutical Industries next month for delaying the launch of generic blood pressure meds.
Teva CFO Eyal Desheh says the generic giant was built in bits and pieces, picking up a bunch of manufacturing plants in the process that it no longer needs. So the company will close half of its manufacturing facilities over the next 5 years as part of its plan to get more focused and more efficient.
Teva Pharmaceutical Industries execs have said all along that reducing manufacturing and procurement costs from its vast manufacturing system will be key to cutting overhead by $2 billion by the end of 2017. Last month Teva CEO Erez Vigodman said it would close 11 and was looking at 16 more. Now Teva CFO Eyal Desheh said Teva intends to close about three dozen plants in the next four to 5 years.