Teva will market both brand and Provigil through Cephalon.
Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) has obtained from the US Food and Drug Administration (FDA) 180-day exclusivity to market generic Provigil in the US. Brand Provigil, to help wakefulness in people suffering from sleep apnea and narcolepsy, is made by Teva subsidiary Cephalon.
The FDA ruled that Teva Pharmaceuticals USA Inc. was the first to file to market generic Provigil, and was therefore eligible for the marketing exclusivity. Teva will produce generic and brand Provigil through Cephalon.
Teva said that Par Pharmaceutical Companies Inc. (NYSE: PRX) was due to launch a second generic version of Provigil tomorrow.
Teva's share price rose 0.2=3% at the opening on Wall Street to $45.02, giving a market cap of $39.6 billion, after rising 0.2% on the TASE today to NIS 168.90.
Published by Globes [online], Israel business news - www.globes-online.com - on April 5, 2012
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