Teva, Celltrion launch Herceptin biosimilar in US

Kare Schultz / Photo:  Cadya Levy, Globes

Teva and Celltrion's Herzuma will be sold at a 10% discount on the price of the original oncological drug.

Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) and Celltrion, its South Korean partner, announced today that Herzuma, their biosimilar (generic version of a biological drug) to Herceptin, a bestselling oncological drug, was now available in the US market. The drug is designed for treatment of a number of specific indications relating to breast cancer and gastric cancer. The drug will be sold at wholesale prices of $1,400 for a 150-milligram dosage and $3,927 for a 420-milligram dosage, which Teva says represents a 10% discount on the wholesale prices of the original drug.

"We are proud to make Herzuma available to patients in the US," said Teva North America Commercial EVP Brendan O’Grady. "The launch of Herzuma continues our commitment to help lower healthcare costs and increase price competition through the availability of biosimilars. Teva is continuing to invest in biopharmaceuticals as part of our long-term strategy for the future, and to help patients around the world, and we look forward to additional milestones for our biosimilar products later this year."

Teva obtained US Food and Drug Administration (FDA) approval to market the drug in late 2018. In a conference call last month, following the publication of Teva's 2019 financials, Teva executives said that the drug would be launched in March.

A few months ago, Eva launched a biosimilar to Rituaxan, another oncological drug.

Teva, managed by CEO Kare Schultz, is listed on the New York Stock Exchange at a $9.8 billion market cap.

Published by Globes, Israel business news - en.globes.co.il - on March 16, 2020

© Copyright of Globes Publisher Itonut (1983) Ltd. 2020

Kare Schultz / Photo:  Cadya Levy, Globes
Kare Schultz / Photo: Cadya Levy, Globes
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