Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA) has launched a generic version of Epiduo in the United States, for the treatment of acne vulgaris. The topical treatment is a combination of adapalene and benzoyl peroxide and indicated for use in patients above 9 years old. According to IMS data, Adapalene and benzoyl peroxide gel 0.1%-2.5% generated sales of about $251 million last year.
Teva Genetic portfolio
The company is set to benefit from 180 days if generic product exclusivity given that it was the first company to file for a generic version of Epiduo. The generic version is the latest addition to the company’s portfolio of more than 40 dermatology products.
“This is an extremely important development for Teva in our desire to make a meaningful difference to the millions of patients who suffer from acne in the U.S,” said Hafrun Fridriksdottir President of Global Generics Medicines.
The launch of Epiduo in the US comes just days after the company announced the launch of a generic version of Vagifem. The estradiol vaginal inserts are indicated for the treatment of atrophic vaginitis. The generic product adds to more than 70 women’s health products that Teva has in the market.
Teva boasts of the largest portfolio of FDA approved generic medicines targeting different medical conditions. The company also leads other drug makers in first to file opportunities, for over 100 pending generic products.
Job Cuts
Separately, Teva has announced plans to trim its workforce as part of an effort that seeks to improve efficiency and competitiveness at production plants. It is still unclear the total number of workers the company will lay off as it currently employs 7,000 staff.
Most of the proposed cuts will affect production employees at facilities in Israel. The company has already begun negotiations with unions at two of its production sites. Teva is trying to reinvigorate its growth prospects having struggled a great deal following the acquisition of Actavis generics for $40 billion.
Chief executive officer, Yitzhak Peterburg, has embarked on a restructuring push that seeks to restore investors’ confidence following the stock’s underperformance.
Shares of Teva were down by 0.34% in Friday’s trading session to end the week at $32.34 a share.