Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) and Israel's Alcobra Ltd. today report success in their Phase II clinical trial of MG01C1 treatment for adults with attention deficit hyperactivity disorder (ADHD). The trial met its primary and secondary safety and efficacy endpoints.
Following the success of the clinical trial, Teva invested in Alcobra
Patients treated with MG01C1 showed improvements in the tests used to measure ADHD, and showed no clinically or statistically significant differences in adverse effects, compared with compared with patients who received a placebo.
"ADHD is the most commonly studied and diagnosed chronic psychiatric disorder in children and adults, affecting about 3-5% of the population," said Dr. Iris Manor, director of the ADHD Unit at Geha Mental Health Center in Petah Tikva. "I am very encouraged by the results of this trial, which warrants further clinical development of MG01CI, a novel non-stimulant drug that may benefit many people with ADHD."
Teva Innovative Ventures head Dr. Aharon Schwartz said, "Our collaboration with Alcobra on the development of MG01CI for ADHD complements Teva’s focus on developing a portfolio of products within our core specialty area of expertise -neurological disorders."
Teva's share price rose 1.1% at the opening on Nasdaq to $39.81, giving a market cap of $37.4 billion, after rising 2.6% on the TASE to NIS 148, after earlier rising 7.8%.
Published by Globes [online], Israel business news - www.globes-online.com - on September 7, 2011
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