Teva Pharmaceutical Industries Ltd
) recently launched their generic version of
) oncology drug, Temodar (temozolomide).
Teva and Perrigo have a collaboration agreement for generic
Temodar under which Teva will manufacture, market and distribute
the product in the U.S. while both companies will share the cost
and profit on the sales of the generic version of the drug in the
As Teva was the first to file for a generic version, it will
enjoy 180 days marketing exclusivity.
We note that Temodar is indicated for the treatment of adults
suffering from newly diagnosed glioblastoma multiforme along with
radiotherapy and subsequent maintenance.
Temodar is also approved to treat refractory anaplastic
astrocytoma in patients whose disease has progressed while being
treated with a regimen containing nitrosourea and
As per IMS, Temodar generated sales of $423 million in the
U.S. in 2012. We remind investors that Temodar lost patent
exclusivity in the EU in 2009.
We note that Teva's generics business in the U.S. posted
revenues of $970 million in the second quarter of 2013, down 8%
from a year ago. Teva expects the generics business to pick up in
the second half of the year as approximately 20-25 generic
product launches are slated for 2013.
The launch of a generic version of Temodar should boost the
generics business in the U.S. for Teva.
Meanwhile, Perrigo also announced that it received approval
from the U.S. Food and Drug Administration for its abbreviated
new drug applications for its generic versions of
Derma-Smoothe/FS Scalp Oil, and Derma-Smoothe/FS Body Oil.
Perrigo intends to start shipping both products next month.
Both Teva and Perrigo currently carry a Zacks Rank #3 (Hold).
) looks attractive with a Zacks Rank #2 (Buy).
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