Supplier News Breaks Archives
Teva closes purchase of Labrys
July 21st, 2014
JERUSALEM – Teva Pharmaceutical Industries Ltd. has completed its $200 million deal to acquire Labrys Biologics Inc., which focuses on treatments for migraine headaches
Teva said Monday that the acquisition, announced early last month, brings to the company LBR-101, currently in Phase IIb clinical trials for prevention of chronic and episodic migraine.
The company noted that LBR-101 complements its acquisition of the Zecuity prescription migraine patch. Zecuity delivers sumatriptan via the skin for the acute treatment of migraine, and Teva said the product positions the company to compete for leadership in the treatment and prevention of migraine.
Teva added that the growing migraine franchise forms part of a strategic expansion of its overall central nervous system portfolio, in addition to a number of products in development for a broad range of pain states and, in particular, a large development program in the field of potential abuse deterrent opioids.
"We are pleased to finalize this acquisition. It's an exciting opportunity to develop a much-needed treatment option for people suffering from the impact of chronic and episodic migraine," stated Michael Hayden, Teva’s president of global research and development and chief scientific officer. "The CGRP pathway is scientifically robust, the molecule has the right specifications to deliver on its clinical promise, and the patient population is both large and underserved. This could make a real and meaningful difference to patients' lives."