Positive momentum for Teva: generic to Rituxan approved

Positive momentum for Teva, which has announced it has obtained the FDA approval for Truxima, a biosimilar to Rituxan (MabThera), a blockbuster by Genentech-Roche. Truxima has been developed by its South Korea-based partner Celltrion for the treatment of non-Hodgkin lymphoma. As part of the Celltrion-Teva deal, Celltrion will develop the biosimilars to Roche’s two blockbusters–Rituxan and Herceptin–which together generate sales of $6.5bn (USA). Teva has paid Celltrion $160m, and will also pay royalties on the generated profit.  However, despite the approval, the drug won’t be launched on the market at the moment, due to an agreement with Genentech.

Additionally, some hours before the announcement, Teva had informed it had started marketing the first units of its generic copy of Mylan’s EpiPen (0.3mg), which will be sold at $300 per box.

Teva’s shares have increased over 40% over the last 12 months (Nasdaq).

(Source: Teva)