Teva pushed hard for a Supreme Court appeal after a federal court last summer upturned its patents on cash cow Copaxone. Today, SCOTUS is due to hear oral arguments for the case. But when it comes to Teva's market share, other factors may have just as big an impact as the court's decision.
We've seen what happens when a big drug goes generic. Plants close, sales reps lose their jobs. As the impending shutdown of a Teva Pharmaceutical Industries unit shows, the same is true for an on-patent drug flop.
Teva Pharmaceutical Industries CEO Erez Vigodman has been a busy man. So busy, in fact, it seems the company's press releases barely keep up with him. Today's announcement: Vigodman has overhauled Teva's management structure, winnowing out 6 executive jobs and creating two worldwide divisions. And he recruited a pharma-industry vet to take the helm of one of them.
The company is recalling about 40,000 bottles of drugs manufactured for it by Emcure Pharmaceuticals in India for deviations in lab testing, an issue the FDA has frequently uncovered at Indian plants.
Last June, reports surfaced that a patient had died, allegedly because of Teva's diuretic, Furosémide. In an interview with EuropeanCEO, Teva France CEO Erick Roche outlined how he helped the company survive the PR onslaught.
Israel's Teva Pharmaceutical has agreed to pay $27.6 million to settle allegations that it illegally paid a Chicago doctor to prescribe the generic antipsychotic drug clozapine to Medicare and Medicaid patients.
Teva is on a mission. The goal: switch as many multiple sclerosis patients as possible over to the new version of Copaxone before the current product loses patent protection in May. So far, Teva has reached 85,000 of them; to do so, Bloomberg reports, the company has started emailing patients registered with its 24-hour patient-support hotline.
After investigating Teva Pharmaceutical Industries for potential bribery overseas in 2012, U.S. prosecutors have turned to Teva's marketing, eyeing two branded medications, its top-selling multiple sclerosis drug Copaxone and its Parkinson's disease treatment Azilect.
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.