Teva announced the launch of the generic version of Uceris
On July 9, Teva announced the launch of its generic Uceris (budesonide) extended-release tablets (nine milligrams) in the United States. In November 2017, Teva prevailed in its litigation challenging Valeant Pharmaceuticals’ (VRX) Uceris patent, which was acquired through the acquisition of Salix in 2015. Teva was the first applicant to file an ANDA (abbreviated new drug application) for generic Uceris. Alvogen US and Lotus Pharmaceutical also prevailed in a similar litigation for generic Uceris in 2017.
Budesonide extended-release tablets are “a glucocorticosteroid indicated for the induction of remission in patients with active, mild to moderate ulcerative colitis.” According to IMS data, as of May 2018, Uceris generates sales of $196 million annually in the United States. Some of the other drugs available for the treatment of ulcerative colitis include Pfizer’s (PFE) Sulfasalazine and Alaven Pharmaceutical’s Olsalazine.
Brendan O’Grady, the executive vice president and the head of the company’s North America Commercial division, said, “The launch of generic budesonide extended-release tablets signals an important addition to Teva’s portfolio. We continue to be focused on bringing affordable generic treatment options to our customers, including those living with chronic, life-long conditions like ulcerative colitis.”
Teva is the largest generic drug manufacturer in the world and has the largest portfolio of FDA-approved generics. It also has the largest number of first-to-files in the United States. The company is successfully executing a restructuring plan currently and recuperating from the declining sales reported in the previous year. As of July 9, Teva stock has a consensus analyst target price of $20.13, implying a downside potential of ~17% in the stock over the next one year.
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