Last month, Mylan Chairman Robert Coury challenged suitor Teva to either put up a formal bid or step aside and let his company proceed with its plan to pursue its own target, Perrigo. And he may be getting what he asked for.
Royal Philips and Teva Pharmaceutical Industries are getting the ball rolling on their new med tech incubator in Israel, sinking funds into two startups and planning more investments in the months ahead.
In the post- FTC v. Actavis world, cash doesn't have to change hands for a pay-for-delay deal to fall afoul of antitrust law. That's becoming clear as court rulings pile up. And a new U.S. appeals court decision specifically addresses a branded drugmaker's agreement not to launch an authorized generic of its branded drug.
Mylan is sending its CFO, John Sheehan, on the road in Israel.
India's Natco Pharma said all it needs is the approval from the U.S. FDA to launch a generic version of Teva's Copaxone and put it on track to compete with versions from Sandoz, Momenta Pharmaceuticals and Mylan.
On Thursday, Momenta and Novartis' Sandoz launched their copy of Teva blockbuster Copaxone after a U.S. court nixed the multiple sclerosis drug's patent for the second time. Industry watchers largely expected the move, Bernstein's Ronny Gal wrote in a note to clients. The real question? When Mylan will enter the market with its own copy.
Teva has upped its Mylan stake yet again--this time, passing a critical threshold that could help it pose a legal challenge to its generics rival.
On the heels of Microchips Biotech's $35 million partnership with Teva to apply the company's electronic drug delivery implant for administration over months to years toward at least one disease area, the company announced that Cheryl Blanchard, the former chief scientific officer of Zimmer, will become its new CEO.
It's been a long legal road for Copaxone, and one that took yet another turn Thursday as the U.S. Court of Appeals struck down the drug's patent for the second time.
Mylan can breathe a little easier knowing it has support from its largest shareholder in its quest to pick up Perrigo. After all, it's not just a big buyout at stake--but the opportunity to thwart its own unwanted takeover by generics rival Teva.