Sector News

Teva completes Auspex buy, still pursuing Mylan

May 6, 2015
Life sciences
Teva has completed its $3.5-billion purchase of Auspex Pharmaceuticals, in a move the Israeli drugmaker says will enhance its revenue and earnings growth profile and strengthen its core central nervous system franchise.
 
The moves gives the firm access to Auspex’ lead investigational product SD-809 (deutetrabenazine), which is being developed for the potential treatment of chorea associated with Huntington’s disease, tardive dyskinesia, and Tourette syndrome. Teva said it is expecting a US launch for the drug to treat Huntington’s sometime in 2016, if regulatory approval is granted.
 
According to chief executive Erez Vigodman, the combination of Auspex’ portfolio with Teva’s research and commercialisation capabilities “will unlock significant value” for shareholders.
 
Still hot for Mylan
Meanwhile, Teva remains intent on carrying through its proposed purchase of generics giant Mylan, despite the latter’s rejection of its $43 billion offer. 
 
The Jerusalem-headquartered group has now posted an updated investor presentation to its website, touting the benefits of the marriage. 
 
“Together with Mylan, we would have the infrastructure and the capabilities to more quickly pursue a differentiated business model that meets the evolving needs of patients and customers and support the highest levels of quality and clinical excellence,” said Vigodman, and reiterated his company’s commitment to the move.  
 
Mylan Q1 profit drop
Mylan, which itself is currently in hot pursuit of Dublin, Ireland-based group Perrigo, has just posted a substantial drop in first-quarter profit from $116 million, or $0.29 a share, to $56.6 million, or $0.13 a share, although this was largely because of acquisition costs.
 
Excluding these costs and other special items, earnings per share climbed from $0.66 to $0.70, as sales, despite taking a hit from currency effects, climbed $1.87 billion from $1.72 billion in the year-ago period.
 
By Selina McKee
 
Source: Pharma Times

comments closed

Related News

May 27, 2023

Positive opinion for Novo Nordisk’s Sogroya

Life sciences

Novo Nordisk has announced that the European Medicines Agency’s (EMA) Committee for Medicinal Products for Human Use (CHMP) has provided a positive opinion for the company’s Sogroya therapy. The once-weekly treatment – also known as somapacitan – is for the replacement of endogenous growth hormone (GH) in aged children three years and older.

May 27, 2023

Medtronic acquires insulin patch pump maker EOFlow for $738M amid new MiniMed rollout

Life sciences

Medtronic is set to acquire EOFlow, the South Korea-based maker of an insulin patch pump. In its announcement of the deal Thursday, Medtronic suggested that integrating the tubeless device with its own continuous glucose monitors and meal-detection algorithm could create a new closed-loop system for largely hands-off diabetes management.

May 27, 2023

Apnimed cracks sleep apnea puzzle, hits primary goal in phase 2 study

Life sciences

Apnimed started the year by bagging nearly $80 million in extended series C funds and the momentum has kept up, with the sleep-apnea-focused biotech nailing its goals in a phase 2 study. “For those who cannot tolerate current treatments, AD109 has the potential to be a convenient, oral pill that could improve people’s quality of life both at night and during the day.”

How can we help you?

We're easy to reach