Teva seals deal to market copy of AstraZeneca diabetes drug

Teva seals deal to market copy of AstraZeneca diabetes drug

Dive Brief:

  •   Teva has reached an agreement with AstraZeneca allowing it to market a generic copy of the injectable diabetes drug Byetta by late next year, the Israeli drugmaker said Thursday.
  • Under the deal, Teva will be able to commercialize Byetta in the U.S. starting on October 15, 2017, although a statement alluded to certain circumstances by which sales could begin earlier.
  • While a generic competitor will crimp sales, AstraZeneca has already switched its focus to the extended release version of the GLP-1 drug, called Bydureon.

Dive Insight:

Byetta and Bydureon earned nearly $900 million for AstraZeneca last year, but the lions share of that revenue was driven by growing sales of Bydureon, which jumped 32% year over year.

Sales of Byetta dropped slightly by 3% in 2015, before plunging 31% in the first quarter (compared to the same period a year prior).

The settlement between Teva and AstraZeneca involved seven different patents on the drug and will give Teva the rights to both manufacture and sell Byetta in the U.S.

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Source: http://www.biopharmadive.com/

June 24, 2016 / Pharma News