Teva Pharmaceutical Industries Ltd (ADR) ADR (NYSE:TEVA) on Friday announced the launch of the generic version of the Syprine drug which is used to address Wilson’s disease.
The company made the announcement about the launch on Friday revealing that it had introduced the generic versions of Syprine in the U.S. The latter has been in the market for about 30 years with its rights currently held by Valeant Pharmaceuticals Intl Inc (NYSE:VRX) which secured the rights in 2010. The biopharma has since then increased the price of the drug by more than 3,000 percent. A report released by IMS data revealed that the company made roughly $155 million in U.S sales in 2017.
“The launch of trientine hydrochloride capsules illustrates Teva’s commitment to serving patient populations in need—whether it’s a medicine that could be taken by millions of individuals or one focused on a rare condition disorder like Wilson’s disease,” stated Teva’s Executive Vice President and head of the company’s North American division, Brendan O’Grady.
Wilson’s disease is a genetic condition that is characterized by the inability of the body to eliminate excess copper. The human body needs small amounts of copper so as to facilitate good health. However, high levels of copper may lead to serious health implications including organ damage. The condition is incredibly rare and only affects roughly 30,000 people in the U.S.
The launch of the new generic version of Wilson’s disease means that Syprine is no longer in the list of off-exclusivity branded, off-patent drugs that do not have generics. The list was recently published by the Food and Drug Administration (FDA). Hafrun Fridriksdottir, Teva’s executive vice president of global R&D revealed that Teva filed its ANDA for the drug over two years ago. He also stated that the company was pleased to announce that the application was approved, meaning Teva would now offer a cost-effective alternative for patients suffering from the genetic condition. The Teva executive also added that the company looks forward to working together with the FDA on other generic projects.
Teva stock closed the latest trading session on Friday at $18.61.