Sector News

Teva inks trailblazing cannabis pact with Israel's Syqe Medical

November 28, 2016
Life sciences

Teva has struck a new marketing agreement, and it’s one that’ll help the Israeli drugmaker blaze a new trail in the drug industry.

The pharma has inked a pact that will make it the only distributor in Israel of local company Syqe Medical’s cannabis inhaler, the companies said Monday, without disclosing any financial data on the agreement. Teva will also help Syqe set up a support and instruction team of nurses for patients and healthcare providers.

As of this year, Israel boasted about 26,000 medical cannabis consumption licenses—a figure that’s expected to double by 2018, Israeli newspaper Globes reports. And with licensed patients spending an average $1,000 per month on cannabis, the revenue potential is there for Teva if the company can get the inhaler selling.

Meanwhile, the inhaler fits in with Teva’s pain product portfolio; as Avinoam Sapir, Teva Israel’s CEO, told Globes, and the company “entered the field of medical cannabis out of its deep commitment to pain patients.” For Teva, pain represents a key therapeutic area that—along with other core fields such as neurodegenerative and respiratory—CEO Erez Vigodman said he’d look to boost following the company’s $40.5 billion acquisition of Allergan’s generics unit.

Another of Teva’s recent pain partnerships has already hit a sour note, though. In October, less than one month after Teva signed on to help develop and commercialize Regeneron NGF antibody fasinumab—an agreement that saw it fork over $250 million upfront—the FDA put a clinical hold on the prospect, prompting Leerink Partners analyst Geoffrey Porges to reduce the med’s probability of success to 0% in his models.

By Carly Helfand

Source: Fierce Pharma

comments closed

Related News

May 15, 2022

Novo Nordisk and Flagship Pioneering announce a strategic collaboration to create a portfolio of transformational medicines

Life sciences

The companies will explore opportunities to apply Flagship’s innovative bioplatforms – an ecosystem that currently comprises 41 companies – to scientific challenges in disease areas within cardiometabolic and rare diseases and initiate research programmes based on these.

May 15, 2022

BD, Babson set sights on bringing simple blood collection into the home

Life sciences

BD is expanding its long-running partnership with the blood collection company Babson Diagnostics. The two companies have been working together since 2019 on a device that can gather small volumes of blood from the capillaries in the fingertip without requiring any specialized training, and beginning with a focus on supporting primary care in retail settings.

May 15, 2022

CSL’s $11.7B Vifor buy, 2021’s biggest biopharma M&A deal, hits antitrust delay

Life sciences

Wednesday, Australian biotech CSL said (PDF) the regulatory review of its $11.7 billion acquisition of Switzerland’s Vifor Pharma will take “a few more months,” suggesting it won’t be able to close the transaction by June 2022 as previously expected.