Teva, Active Biotech Multiple Sclerosis Treatment Misses Primary Goal
01 Août 2011 - 2:35PM
Dow Jones News
Teva Pharmaceutical Industries Ltd. (TEVA) and Active Biotech AB
(ACTI.SK) said their investigational oral treatment for a relapsing
form of multiple sclerosis added to data demonstrating significant
reduction in brain-volume loss and the risk of disability
progression.
However, the once-daily treatment--called laquinimod-- failed to
meet its primary endpoint of reducing relapses when compared with a
placebo in a Phase III study. Still, following a standard
adjustment in a predefined sensitivity analysis, the treatment
significantly reduced the annualized relapse rate.
The companies plan to submit the treatment for regulatory
approval in the U.S. and European Union. Teva acquired in 2004 the
exclusive global rights to develop and commercialize laquinimod
with the exception of in the Nordic and Baltic countries, where
Active Biotech retained the rights, according to Teva's
website.
Teva's American depositary shares closed Friday at $46.64 and
were halted premarket.
-By Tess Stynes, Dow Jones Newswires; 212-416-2481;
Tess.Stynes@dowjones.com