) recently announced that it has reintroduced its injectable
antibiotic Vibativ (telavancin) in U.S. markets. Vibativ is
approved for treating adults suffering from complicated skin and
skin structure infections, resulting from susceptible
gram-positive bacteria, including both methicillin-resistant and
methicillin-susceptible strains of staphylococcus aureus.
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We note that the drug is also approved for treating adults
suffering from hospital-acquired and ventilator-associated
bacterial pneumonia when other alternatives are not available. We
note that Theravance's deal with
) regarding Vibativ was terminated by the latter in Jan 2012.
Following the termination of the deal, supplies of Vibativ were
hit badly, leading to the suspension of commercialization of the
antibiotic. To resolve the situation, Theravance inked a supply
deal for Vibativ with
). In Jun 2013, the U.S. Food and Drug Administration (FDA)
approved Hospira as a manufacturer of Vibativ.
With Vibativ supplies being restored, Theravance resumed shipping
the drug into the U.S. wholesaler channel. The reintroduction of
Vibativ in the U.S. is very encouraging for Theravance as the
resumption of sales would bring in additional revenues to the
We are also positive on Theravance's partnership with
). In May 2013, Theravance received a boost when the FDA approved
Breo Ellipta, also co-developed with Glaxo, as a long-term
maintenance therapy of airflow obstruction and for bringing down
exacerbations in patients suffering from COPD. Breo Ellipta is
expected to be available from the third/fourth quarter of 2013.
Another COPD candidate, developed under this partnership, is
Anoro Ellipta. The candidate is under review in the U.S. (target
date: Dec 18, 2013).
Theravance carries a Zacks Rank #3 (Hold). Hospira appears to be
more attractive with a Zacks Rank #2 (Buy).