Teva Pharmaceutical Industries Ltd.
) recently received FDA approval for a new formulation of its
oncology drug, Treanda. Treanda, which was earlier available as
an injection, will now be available in a liquid formulation as
The approval of the liquid formulation will improve
convenience of use for healthcare professionals. Earlier,
healthcare professionals had to reconstitute the lyophilized
powder with sterile water before adding the medicine to the
dilutent and administering to a patient. With the approval of the
liquid formulation, this step will no longer be required.
Teva said that its supplemental New Drug Application for the
liquid formulation was granted priority review by the FDA.
Treanda is used in indolent B-cell non-Hodgkin lymphoma
patients whose disease has progressed during or within six months
of treatment with Rituxan (rituximab) or a Rituxan-containing
regimen, and in patients with chronic lymphocytic leukemia
Treanda is the lead product in Teva's oncology product
portfolio. Treanda, which became a part of Teva's portfolio
following its acquisition of Cephalon, posted sales of $608
million in 2012.
We note that Teva has been working on strengthening its
oncology portfolio. The company recently signed a couple of
oncology deals. While Teva's agreement with
Champions Oncology Inc.
) is focused on the development of new and personalized
therapeutic options for cancer patients, the multi-project
alliance with the technology development arm of Cancer Research
UK's - Cancer Research Technology Ltd. (CRT) is aimed at the
research and development of first-in-class cancer drugs that
modulate DNA damage and repair response (DDR) processes in cancer
Teva currently carries a Zacks Rank #3 (Hold). The company is
going through a tough transition period given fewer large generic
opportunities, potential new competition for branded products
(especially Copaxone) and a higher cost base.
However, we are encouraged by Teva's plans to improve its
position. Teva said that it intends to accelerate growth
platforms, protect and expand core franchises, expand its global
presence, pursue strategic deals and reduce the cost base. We
expect investor focus to remain on the execution of the company's
At present, companies like
) look well-positioned with both being Zacks Rank #2 (Buy)
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