Teva Pharmaceutical Industries Ltd. , the world’s biggest generic-drug maker, agreed to buy a 57 percent stake in Taiyo Pharmaceutical Industry Co. to benefit from Japan’s push to broaden the use of copycat medicines.
Teva Pharmaceutical Industries Ltd., swooping in to outbid Valeant Pharmaceuticals International Inc. for Cephalon Inc. , is counting on “high-risk, high-reward” stem-cell treatments and therapies for asthma and lung cancer to help it overcome growing competition to its biggest product.
Teva Pharmaceutical Industries Ltd. said fourth-quarter profit rose 23 percent as last year’s acquisition of Cephalon Inc. shifted the company further away from its original identity as a generic-drug maker.
Teva Pharmaceutical Industries Ltd. will focus drug-development efforts under new Chief Executive Officer Jeremy Levin on respiratory and central nervous system illnesses as the company seeks to replace medicines set to lose patent protection in the next three years.
Teva Pharmaceutical Industries Ltd. fell the most in more than six months in New York trading after the Israeli drugmaker’s fourth-quarter earnings and forecast for this year missed analysts’ estimates.
Teva Pharmaceutical Industries Ltd. ’s multiple sclerosis pill laquinimod could become a so- called blockbuster drug with $1 billion in annual sales, Globes reported, citing Chief Executive Officer Shlomo Yanai .