Teva subsidiary Cephalon will produce both the generic and brand versions of Provigil, which treats sleep apnea.
Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) has launched its authorized generic version of Provigil, for the improvement of wakefullness, made by Teva's newest subsidiary, Cephalon Inc.
Cephalon will produce both the generic and brand versions of Provigil at its US plant. Brand Provigil has $1.1 billion in annual US sales, according to IMS sales data. Provigil is used to treat sleepiness in adults caused by sleep apnea or Narcolepsy.
Teva's share price rose 1.8% by midday on the TASE today to NIS 169.90, after rising 2.1% on Nasdaq on Friday to $45.06, giving a market cap of $39.8 billion.
Published by Globes [online], Israel business news - www.globes-online.com - on April 1, 2012
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