Bloomberg News

Teva Drops as FDA Tightens Standards, Biogen Drug Succeeds

October 26, 2011

(Updates with closing prices in third paragraph.)

Oct. 26 (Bloomberg) -- Teva Pharmaceutical Industries Ltd. fell in Tel Aviv amid U.S. Food and Drug Administration plans to set tighter standards on generic drug makers and as a study showed a rival’s pill reduced multiple sclerosis relapse risk.

Biogen Idec Inc.’s experimental BG-12 pill reduced the risk of patients having relapses of multiple sclerosis, according to the study.

Teva shares declined for the third time this week, retreating 1 percent to 143.5 shekels at the 4:30 p.m. close in Tel Aviv. Perrigo Co., the biggest U.S. maker of generic over- the-counter drugs, retreated 2.4 percent, the most in a week, to 359.90 shekels after falling 2.8 percent in New York trading yesterday.

Generic-drug makers will have to meet tighter standards to prove their blood-thinners and anti-seizure treatments work as well as brand-name products, U.S. regulators said. The FDA, responding to complaints that some copies don’t work as well as the originals, is writing guidelines for limits that companies must follow, including how quickly active ingredients are absorbed in the bloodstream.

--Editors: Claudia Maedler, Peter Branton, Heather Langan, Bruce Rule

To contact the reporter on this story: Shoshanna Solomon in Tel Aviv at ssolomon22@bloomberg.net.

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net.


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