Alexza Pharmaceuticals has announced that it plans to reacquire US rights for Adasuve loxapine inhalation powder from Teva Pharmaceuticals USA by January 1, 2016. According to the company, “Alexza and Teva are working on a transition agreement to continue product availability to patients and health care providers after the return of the rights to Alexza.”
Teva paid Alexza $40 million upfront for the US rights to Adasuve in May 2013 and launched the product in March 2014.
Alexza President and CEO Thomas B. King said, “Adasuve is an effective product. There are considerable challenges in launching a hospital product, especially one as complex as Adasuve. We appreciate the efforts that Teva has made to date and are looking forward to continuing to build the Adasuve brand. We remain confident in Adasuve’s long-term commercial prospects and plan to work with Teva to effect a smooth transition. It is our intention to work diligently in 2016 to identify a new US commercial partner for Adasuve.”
Read the Alexza Pharmaceuticals press release.
