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July 1, 2015 / 14 Tammuz, 5775
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Posts Tagged ‘Teva’

Kimberly-Clark Buys Out Israeli Diaper Firm for $160 Million

Tuesday, January 27th, 2015

Kimberley-Clark has announced it is forking out $160 million to buy out the Hogla-Kimberley diaper company that already is half-owned by the American-based paper giant.

The purchase price includes a $10 million payment to Hadera paper not to compete in the diaper market for four years.

“The current agreement is in line with the strategy formed by the company to continue with its core businesses, manufacturing and recycling paper from a stronger and healthier position,” said Hadera Paper chairman Yochanan Locker.

He said he is happy the Kimberley-Clark in investing in the Israeli economy.

He did not say that investments from global companies leave Israel more at the whims of foreign companies who are good at squeezing governments for tax breaks under the threat of pulling out and going elsewhere with their business.

It was disclosed earlier this week that Pfizer is considering buying the Israeli-based Teva Pharmaceuticals company, the international leader in generic drugs.

Teva has said it is nor sale.

Time will tell.

 

Teva’s Parkinson Drug Now Marketed in Japan

Thursday, May 29th, 2014

Japan’s largest pharmaceutical company, Takeda, recently signed an agreement with Teva Pharmaceutical Industries to commercialize the Israeli company’s innovative treatment for Parkinson’s disease, rasagiline, in Japan.

The rasagiline tablets, which are approved in over 40 countries for the treatment of Parkinson’s disease, gained UK and EU-marketing authorization in 2005 and US FDA approval in 2006.

“It is estimated there are about 150,000-180,000 people diagnosed with Parkinson’s disease in Japan, many of whom are waiting for a new treatment option,” said Nancy Joseph-Ridge, M.D., General Manager of Takeda’s Pharmaceutical Development Division located in Osaka, Japan in a press release on April 27.

“We will continue working on the development in cooperation with Teva so that we can bring this medicine to Japanese patients as quickly as possible,” Joseph-Ridge said.

“This agreement represents Teva’s continued commitment to introducing our innovative medicines to patients in Japan,” added Teva Global R&D president and Chief Scientific Officer, Dr. Michael Hayden.

Teva and Takeda entered an agreement in December 2013 to develop glatiramer acetate for the treatment of multiple sclerosis.

Developed by Teva, rasagiline was initially discovered by two Haifa Technion professors, John Finberg and Moussa Youdim, who were instrumental in the early clinical development of the anti-Parkinson drug.

Parkinson’s disease is a degenerative disorder of the central nervous system, whose symptoms include shaking, rigidity, slowness of movement and difficultly with walking as well as dementia in advanced stages. An estimated seven to 10 million people suffer from the disease across the world according to the Parkinson’s Disease Foundation.

According to Teva’s website, rasagiline is a monoaxmine oxidase B (MAO-B) inhibitor that increases available synaptic dopamine in the brain, which might improve the motor symptoms characteristic of Parkinson’s, slowing the progression of the disease.

“Rasagiline has an established safety and efficacy profile…[it] will be an important product for Japan, where the number of available treatment options for Parkinson’s disease remains limited,” said Dr. Hayden.

Teva Wins FDA Approval for Leukemia Drug

Thursday, February 13th, 2014

The U.S. Food and Drug Administration (FDA) has granted Israeli-based Teva Pharmaceuticals full approval for Synribo, a drug that is injected for adults with a with chronic phase or accelerated phase of myeloid leukemia.

Chronic myeloid leukemia, also known as chronic myelogenous leukemia, is one of four main types of leukemia and is a cancer of the blood and bone marrow.

The FDA had given initial approval for the drug in October 2012 but said Teva had to provide additional clinical trial data before it could bring the drug to market.

“With this approval, based on the final analysis of two Phase II trials that evaluated efficacy and tolerability data of Synribo, we believe healthcare providers can be even more confident in the clinical profile of this important medicine, said Teva president and CEO global specialty medicines Rob Koremans.

Teva Names New CEO Three Months after Firing Jeremy Levin

Thursday, January 9th, 2014

Teva Pharmaceutical announced on Thursday that its new CEO will be Erez Vigodman, who until now has been the CEO for the huge phosphate and chemical producer Makhteshim Agan Industries.

Vigodman replaces Dr. Jeremy Levin, who moved to Israel two years to take over the world’s largest generic drug company, which has been faltering since a rival firm began marketing a generic alternative to Teva’s conventional Copaxone drug that prevents the reoccurrence of Muscular Sclerosis.

Levin was fired after arguments on company strategy between him and the board of directors.

Teva chairman Dr. Phillip Frost said, “As a member of the Teva board since 2009, Erez has a deep understanding of the company and the industry in which it operates, putting him in a strong position to hit the ground running and deliver value for shareholders.”

Ex-Teva CEO Jeremy Levin Says He Is Staying in Israel – for Now

Wednesday, November 20th, 2013

Jeremy Levin, who moved to Israel last year to take over the helm at Teva Pharmaceuticals only to be fired last month, say he loves Israel and is staying here, at least for the time being.

Unlike Stanley Fischer, who made aliya to take over the post of Governor of the Bank of Israel and then packed up and left earlier this year, Levin is a lot more outgoing an expresses himself on a more personal level.

“I intend to devote my time in the short term to get to know Israel and Israelis, and to see everything that this country has to offer,” Levin told graduates in the masters program for business administration at Tel Aviv University Tuesday.

“There is special warmth and love in Israel, and I’m proud to be an Israeli,” he added. “Follow your hearts, dream big, learn from mistakes and appreciate the loss in order to learn from it.”

He also said he looking for work.

“As for myself, I immigrated and I’m now unemployed, so if you have some interesting offers…,” Levin told the graduates.

Levine expressed the same views as  Fischer and his successor Karnit Flug that Israel needs to “educate all sectors of society and include all the nations: Christians, Jews, Muslims, groups such as the Haredim, the Druze, everyone. Everyone should be an important contribution to the economy.

Teva to Fire 5,000 Workers Worldwide

Thursday, October 10th, 2013

Israel’s giant generic Teva Pharmaceuticals firm will fire  by the end of next year 5,000 employees around the world, including hundreds in Israel, as one of the “steps to accelerate the reduction of costs and to optimize its structure.”

Most of the layoffs will be outside Israel, said Teva CEO Jeremy Levin, who moved to Israel form the United States last year to head the company.

The layoffs are expected to save the company $1.5 to $2 billion by the end of 2017, and part of the savings will be re-invested in the development of generic and specialty drugs.

Levin maintained  that the company is not suffering from financial problems. In New York, the company’s shares jumped 2 percent on news of the cutback in the workforce.

Teva’s stock was the darling of investors until five years ago, when the announcement of competitors’  generic drugs to replace Teva’s patented Copaxone drug, which treats  multiple sclerosis, drove the stock down by nearly 50 percent.

Another Israel Pharmaceutical Firm Goes to NASDAQ

Wednesday, October 9th, 2013

Kitov Pharmaceuticals accounted it plans to apply for listing on the NASDAQ exchange, joining Israel-based Teva and Kamada that are traded on Wall Street.

Kitov is hoping for approval from the U.S. Food and Drug Administration (FDA) after its Phase III clinical trial of a combination drug for the treatment of hypertension and pain relief.

The drug has a potential market of $10 billion, and the company’s stock in Israel has climbed almost 10-fold this year.

It also is developing a combination drug for the treatment of osteoarthritis, with the risk of hypertension and other side effects associated with current treatments, Globes reported.

Printed from: http://www.jewishpress.com/news/breaking-news/another-israel-pharmaceutical-firm-goes-to-nasdaq/2013/10/09/

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