Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) is continuing to capitalize on the success of ethical multiple sclerosis drug copaxone, with the development of an oral treatment for the disease, laquinimod.
Earlier today, Teva and its Swedish partner Active Biotech AB (OMX NORDIC: ACTI), announced the launch of Phase III clinical trials for the drug, following the successful completion of Phase II trials at the beginning of the month.
With Teva's copaxone now aging and the patents on it set to expire, several companies have begun development of a oral treatment (tablet form) for multiple sclerosis, which is more convenient for patients than intravenously administered medication.
Teva president and CEO Shlomo Yanai said, "The Phase III clinical program for oral laquinimod is is a potential new and convenient treatment option for MS patients. The accelerated development of oral laquinimod is part of our commitment to MS patients to develop additional improved therapies that combine efficacy and safety."
Yesterday copaxone was given a boost by the US Food and Drug Administration (FDA) which ruled that it could now be stored at room temperature for up to one month.
Published by Globes [online], Israel business news - www.globes.co.il - on June 7, 2007
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