Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) has received EU marketing authorization for its oral contraceptive Zoely, and will launch the product in Europe by the end of the year. Zoely was developed by Théramex, which Teva acquired in January from Merck KGaA (XETRA: MRK).
Teva Europe president and CEO Dr. Gerard van Odijk said, “The EU Marketing Authorization for Zoely marks an important step in creating a strong women’s healthcare franchise for Teva in Europe. The acquisition of Théramex in January this year gives us a platform to leverage our capability in women’s healthcare, and the launch of Zoely is part of our developing business in this area."
Teva has exclusive marketing rights for Zoely in France, Italy, Belgium, and Spain. The approval of Zoely applies to all 27 EU member states plus Norway, Iceland, and Liechtenstein.
Teva's share price rose 2% by early afternoon on the TASE today to NIS 152.
Published by Globes [online], Israel business news - www.globes-online.com - on August 2, 2011
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