Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) reported positive results in its Phase III clinical trial of lipegfilgrastim for the treatment of severe neutropenia, a blood disorder. Teva obtained lipegfilgrastim through its acquisition of Germany's Ratiopharm. It is comparable to Neulasta, made by Amgen Inc. (Nasdaq: AMGN).
The Phase III trial was conducted on 200 breast cancer patients receiving four cycles of chemotherapy who received either lipegfilgrastim or Neulasta. The trial met the primary endpoint of reducing the duration of severe neutropenia.
Neutropenia is a blood disorder in which the number of white blood cells falls, causing increased susceptibility to bacterial infections. It can be either congenital or the result of a viral infection or side effect of a drug, including chemotherapy, or exposure to certain poisons.
Neulasta has annual worldwide sales of $3.56 billion.
Teva VP global branded products Prof. Yitzhak Peterburg said, "Teva is committed to the development of biologics and biosimilars, which make up one of the fastest growing segments of the global pharmaceutical market and offer efficacious yet more affordable treatment to all patients."
Teva's share price rose 1.1% on the TASE today to NIS 170, but fell 0.2% in early trading on Nasdaq to $50.12, giving a market cap of $44.7 billion.
Published by Globes [online], Israel business news - www.globes-online.com - on June 6, 2011
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