Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) has announced the launch of AirDuo RespiClick, a product for treating asthma in patients over twelve years of age whose condition is not controlled through inhalation of steroids alone or is extremely severe. AirDuo RespiClick combines a corticosteroid (ICS) - fluticasone propionate - and a long-acting beta-agonist (LABA) - salmeterol - the same active ingredients as in GSK's Advair. The inhaler, however, is different, and allows control over the dosage.
Following the announcement, Teva's share price rose by 1.5% on the New York Stock Exchange on Friday and by 1.06% on the Tel Aviv Stock Exchange yesterday, taking the company to a market cap of $31.7 billion, after it again touched a ten-year low last week.
At the same time as launching AirDuo RespiClick, Teva also launched a generic version of the product, known as fluticasone propionate and salmeterol inhalation powder (multidose dry powder inhaler). Teva said it was launching both products at the same time "in an effort to address the need for more affordable asthma treatment options in the US." Teva expects that sales of the authorized generic, priced at a 70-80% discount versus Adavir, will represent most of the sales of the two products.
Teva's generic inhaler is the first generic version of Advair, which brought GSK sales of $2 billion in 2016 out of a $4.5 billion market for combined ICS/LABA inhalers. Mylan has also submitted a generic inhaler in this category, but has not yet received approval. AirDuo RespiClick was approved by the US Food and Drug Administration in January 2017
“With the launch of AirDuo RespiClick and its authorized generic, our intent is to meet the needs of patients, providers, and payers in the US seeking greater access to lower-cost asthma inhaler technology, while also allowing Teva to compete in the highly competitive asthma combination controller market,” said Rob Koremans, M.D., President and CEO of Global Specialty Medicines at Teva. “This important launch marks not only the first available generic ICS/LABA product in the US, but also the continued expansion of our RespiClick family of products, which now includes breath-activated inhaler options for both maintenance treatment and rescue medication.”
Published by Globes [online], Israel business news - www.globes-online.com - on April 24, 2017
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