Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) has presented at a conference in Germany the results of additional studies on dual mechanism of action of its laquinimod oral treatment for relapsing-remitting multiple sclerosis. Results from several preclinical studies suggest that laquinimod elicits a protective therapeutic effect by conferring neuroprotective and anti-inflammatory properties.
Teva said that studies expand upon a growing body of data suggesting that laquinimod's mechanism of action is "targeted immunomodulation" (bringing the immune response to a specific level), and may help contribute to the drug's favorable benefit-to-risk profile.
The US Food and Drug Administration (FDA) gave laquinimod Fast Track designation in February 2009. Teva has completed enrollment and begun two global Phase III clinical trials, BRAVO and ALLEGRO for the drug.
If the trials are successful, Teva expects to obtain FDA marketing approval for Laquinimod in 2011. The drug could be a replacement for Copaxone, Teva's flagship drug for the treatment of multiple sclerosis, whose patent expires in 2014.
Teva's share closed at $52.70 on Nasdaq on Friday. The share rose 0.8% in morning trading on the TASE today to NIS 199.
Published by Globes [online], Israel business news - www.globes-online.com - on September 13, 2009
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