Belgium's MDxHealth has partnered with generics maker Teva Pharmaceuticals to commercialize its ConfirmMDx for prostate cancer and PredictMDx for glioblastoma tests in Israel.
Brace yourselves for the Teva Pharmaceutical Industries marketing blitz. The company won FDA approval Tuesday evening for its new, three-times-a-week Copaxone, and Teva needs to convert as many patients as possible to the new version before the original goes off patent in May.
Teva Pharmaceutical Industries is said to be close to choosing Israeli executive Erez Vigodman to take its empty CEO chair, but as the Wall Street Journal reports, some other candidates are still in the running.
In a way, the coming year isn't a big one for patent expirations. The total amount of sales jeopardized by patent expirations is $34 billion. That's more than the $28 billion this year, but...
Clearly Israel is full of chatter about Teva Pharmaceutical Industries and its latest round of cost-cutting plans. The latest, according to an Israeli television report: CEO Jeremy Levin is considering making an exit. It's not the first such suggestion; During the company's second-quarter earnings call, Goldman Sachs analyst Jami Rubin wondered aloud about the board's support--or lack thereof--for Levin.
That Teva workers are striking to protest job cuts isn't all that unusual in the pharma business these days. That they're protesting executive pay is somewhat more unusual. That a prominent shareholder advises an accompanying pay cut for top executives and directors? That's definitely unusual.
Workers at a Teva Pharmaceutical Industries plant that makes the API for the company's blockbuster Copaxone have walked out, saying they are paid far less than workers at some other Teva plants.
The Hatch-Waxman Act shook up the generic drugs business in 1984, and almost 30 years later, it's safe to say the law had its desired effect. About 84% of the 4 billion prescriptions written each year are for generic drugs, saving patients and government programs billions of dollars a year. In other words, generic drugs are big business. And with a slew of blockbuster brands now off patent, it's a big business with growing pains.
Teva Pharmaceutical Industries will back off its layoff plans in Israel--at least for now. Thanks to vociferous and colorful opposition from labor, plus worker support from politicians, Teva now pledges to negotiate with unions before cutting jobs.
Israeli unions are promising to strike if any of the 5,000 layoffs planned by Teva Pharmaceutical Industries hit home.