Austedo growth opportunity
On April 3, 2017, Teva Pharmaceutical (TEVA) issued a press release announcing FDA approval of Austedo for chorea associated with Huntington’s disease. According to Teva Pharmaceutical’s third-quarter earnings conference call, almost 40,000 people in the US suffer from Huntington’s disease. The company launched Austedo in the Huntington’s disease indication in Korea in the second quarter of 2017.
On August 30, 2017, Teva Pharmaceutical issued a press release announcing FDA approval of Austedo in the tardive dyskinesia indication. According to Teva Pharmaceutical’s third-quarter earnings conference call, approximately 500,000 people in the US suffer from tardive dyskinesia. The company launched Austedo in tardive dyskinesia indication in Korea in the third quarter of 2017. Teva Pharmaceutical is currently studying the potential of Austedo in Tourette syndrome indication, which afflicts almost 150,000 people in the US. The company expects new data for Austedo in this indication in the next 12 to 24 months.
The above diagram highlights the demand trend for Austedo in greater detail.
In the third quarter, Austedo reported revenues of $62 million, which is a YoY rise of 933.33% and a sequential rise of 40.91%. According to Teva Pharmaceutical’s third-quarter earnings conference call, the company expects tardive dyskinesia to be a major driver for Austedo’s future revenue growth. The company expects Austedo’s net annual sales in the US market to reach $200 million by the end of fiscal 2018.
On August 16, 2018, Teva Pharmaceutical and Regeneron (REGN) issued a press release announcing positive top-line data from a phase three trial evaluating investigational therapy, fasinumab, for chronic pain associated with osteoarthritis of knee or hip. The companies are awaiting favorable safety data from the phase three trial. If approved, fasinumab could prove to be a solid addition to the non-opiate pain therapy segment in the US.
In the next article, we’ll discuss growth trends for Teva Pharmaceutical’s biosimilar and generics portfolio in greater detail.