Teva Pharmaceutical Industries Ltd. (Nasdaq:TEVA; TASE:TEVA) reported results from a Phase III study of QNAZE, its nasal aerosol for the treatment of perennial allergic rhinitis (PAR) and seasonal allergic rhinitis (SAR).
Results of the study evaluating patients with PAR showed the once-daily, non-aqueous formulation achieved all primary and secondary targets, showing significantly greater relief of nasal symptoms, including runny nose, nasal congestion, nasal itching and sneezing, compared with placebo. In line with previous studies, the product demonstrated safety similar to placebo.
Teva recently reported successful results from a Phase III SAR study of QNAZE at the American College of Allergy, Asthma and Immunology (ACAAI) Annual Meeting in 2010. In this study, Teva’s INS demonstrated significant improvements in nasal symptoms compared with placebo.
After yesterday's share falls, Teva's share was down 0.83% on the TASE today to NIS 190.50, and in morning trading on Nasdaq was down 0.9% to $51.55, giving a market cap of $46.42 billion.
Published by Globes, Israel business news - www.globes-online.com - on February 9, 2011
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