Teva’s 'Key Ingredient' For Growth: Biosimilars
Teva has conducted due diligence on 36 biosimilar companies with the aim of signing a partner soon to fill a critical gap in its generics pipeline.
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Teva said the deal will close the first week of August, after agreeing to sell assets related to 79 pharmaceutical products to gain FTC clearance.
Teva’s new CEO addressed investors publicly for the first time May 1 and discussed his initial thoughts on plans to turn around the generic drug leader. Those include deeper cost cuts, a renewed emphasis on generic drugs and biosimilars, and potentially a large acquisition.
Teva is the first company to get FDA approval of a version of Amgen’s Neupogen; one biosimilar expert questions why Teva did not switch its BLA to a biosimilar application when that pathway became available.