NORTH WALES, Pa. & ATLANTA--(BUSINESS WIRE)--Jan 16, 2008 - Teva Specialty Pharmaceuticals, the U.S. respiratory therapy unit of Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA) and UCB (Euronext: UCB) today announced an agreement to co-commercialize Teva's U.S. respiratory medicines. The initial product to be jointly promoted in the U.S. is Teva's ProAir(R)HFA (albuterol sulfate) Inhalation Aerosol. ProAir(R)HFA is the number-one branded hydrofluroalkane (HFA) albuterol sulfate inhaler in the U.S. Additionally, the agreement will provide UCB future joint promotion opportunities with other products in development by Teva Specialty Pharmaceuticals. Financial terms of the agreement were not disclosed.
"Over the last months we have undertaken a rich, strategic review globally across regions, therapy areas and business units," said William S. Marth, President and CEO of Teva North America. "The respiratory therapy area has been identified as a key growth area given the incidence of asthma, allergic rhinitis, and COPD (chronic obstructive pulmonary disease). Our collaboration with UCB, a company known for excellence in the respiratory market, will help us achieve a stronger presence in this growing therapeutic area."
"UCB is focused on discovering and commercializing medicines to treat serious conditions, including asthma, and we are committed to expanding our portfolio because we believe ProAir(R)HFA has the potential to improve patient treatment options," said Fabrice Egros, President and CEO, UCB North America. "We look forward to working with Teva Specialty Pharmaceuticals for the benefit of the many Americans who suffer from this condition."
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