Reuters: Israel's Teva Pharmaceutical Industries Ltd and Denmark's Lundbeck said on Tuesday a Phase III trial showed patients treated with their Azilect Parkinson's drug showed improvements compared to those who started taking the drug later.
The study of 1,176 patients showed that Parkinson's patients who took Azilect 1 mg tablets upon entry into the trial, demonstrated significant improvement compared to those who initiated therapy nine months later, the companies said in separate statements.
Teva's Nasdaq-traded shares were up 1.1 percent while Lundbeck was down 2.1 percent at 1426 GMT.
So far, Azilect has been indicated only to treat the symptoms of Parkinson's and not to slow the progression of the degenerative disorder.In June, Lundbeck and Teva said a Phase III trial showed Azilect also slowed Parkinson's, and said they would file for U.S. approval for the new indication, boosting shares in both companies.
Reuters: Teva Pharmaceutical Industries , the world's largest generic drug company, said on Friday it would buy rival Barr Pharmaceuticals Inc for $7.46 billion to expand its leadership in the U.S. market and fortify its presence in Europe.The deal, which began taking shape in talks outside a Florida hamburger restaurant, is the latest in a wave of consolidation in the generic-drug sector that some analysts suspect will result in a handful of major global players.Teva would gain a prominent women's health franchise, including Barr's major portfolio in generic oral contraceptives. Barr also sells the brand-name contraceptive Seasonique, and the Plan B emergency contraceptive.Israel-based Teva, the world's largest generic drug company, plans to buy New Jersey-based Barr for $66.50 per share in cash and stock, making it the largest deal ever by an Israeli company.The price represents a 42 percent premium to Barr's closing price on Wednesday. Barr shares rose 22 percent on Thursday on reports of a Teva acquisition, and an additional 11 percent to $63.43 on Friday.
Reuters: Teva Pharmaceutical Industries Ltd is in talks to acquire rival generic drug maker Barr Pharmaceuticals Inc , sources familiar with the situation said on Thursday.
Few hurdles would impede a potential purchase of Barr, which saw its stock surge 22 percent as news emerged of the potential deal worth up to $7.5 billion.
Although the deal would increase Teva's leadership in the U.S. generics market, antitrust experts said such a deal would still likely win clearance after minor divestitures.
TheMarker put the price tag at $7.5 billion, citing capital market sources. That would make it Teva's biggest acquisition, surpassing the $7.4 billion purchase of U.S.-based Ivax two years ago. Globes cited a price of $7 billion to $7.5 billion.
Barr had a market value of $5.1 billion before Thursday's trading.Teva told analysts in February it was seeking to extend its market share in the U.S. to 30 percent of generic prescriptions by 2012, up from about 20 percent. Barr ranks as about the fifth-largest generic company by U.S. prescriptions.
Reuters: Mylan Inc said on Tuesday it signed a licensing and supply deal for a rival generic version of Teva Pharmaceutical Industries Ltd's big-selling Copaxone multiple sclerosis treatment.
Mylan shares rose more than 2 percent after the announcement, while Teva shares fell more than 2 percent.
Mylan's deal with India's NATCO Pharma Ltd involves exclusive distribution rights to NATCO's pre-filled syringes of glatiramer acetate, the generic name for Copaxone, in major markets including the United States, Europe and Japan.
Teva shares fell $1.13, or 2.5 percent, to $43.63 in late morning trading on Nasdaq. Mylan shares rose 32 cents, or 2.5 percent, to $12.96 on the New York Stock Exchange.
Teva agreed to stop producing its generic version of Wyeth's ulcer drug Protonix, which had had sales of $2.5 billion. Wyeth sued Teva for patent infringement.
Astrazeneca filed suit against several generic manufacturers over infringement on its patent for cholesterol pill Crestor.
Teva receives FDA approval for prodcution of a generic form of Actonel.
The company announced FDA approval of generic Protonix delayed release tablets