Teva Pharmaceutical has completed a strategic review of its core therapeutic areas and will focus its development efforts on central nervous system and respiratory drugs, the company has announced. According to the announcement, 14 drug development programs currently underway at Teva in other therapeutic areas will be divested or discontinued, with the $150-200 million annual savings going toward R&D in the CNS and respiratory areas.
Teva President and CEO Erez Vigodman commented, “Teva is committed to being a world-leader in CNS and Respiratory, both areas underpinned by significant and growing unmet patient needs. With our existing portfolio, integrated global R&D and innovation capabilities, we are in a strong position to deliver for patients and payers, and to generate long-term value for our shareholders. Our late-stage pipeline assets are expected to generate great value – out of the 30 plus product launches we anticipate by 2019, with a total of over $4 billion in new revenue on a risk-adjusted basis, over 20 products will be launched in these two core therapeutic areas.”
Read the Teva press release.
