Teva Pharmaceutical May Experience Lucrative 2014 With Launch Of Generic Detrol®
Jerusalem-based Teva Pharmaceutical Industries Ltd. announced in a January 3 report it will be launching the 2mg and 4 mg versions of the authorized generic of Detrol® LA (Tolterodine Tartrate extended-release capsules) for the US market.
According to the 2013 sales records of Detrol ®, which is a registered trademark of Pfizer, the drug had annual sales of $571.5 million by September. The drug is used as treatment for individuals with an overactive bladder, who experience symptoms such as leaks or frequent urination.
The addition of the Authorized Generic of Detrol® LA into the Teva drug portfolio expands the company’s already vast selection of generic drugs. Teva has launching a new drug almost every month.
In September, Teva launched its generic version of AbbVie’s Niacin medication Niaspan® (Niacin extended-release), meant to lower TC, LDL-C, Apo B and TG cholesterol levels, while increasing HDL-C levels for patients with primary hyperlipidemia and mixed dyslipidemia. Niaspan® closed sales yielding almost $1.12 billion in the US annually.
In October the company launched its generic version of AbbVie’s Zemplar, a drug used to treat increased parathyroid levels in those patients with stage 3 or 4 of chronic kidney disease and those at stage 5 currently on dialysis. Zemplar’s annual sales were significantly lower, at $115 million in revenue in the US alone.
Teva’s generic form of Detrol® is expected to give the company a boost from last year’s series of unfortunate events. Teva exited 2013 with the departure of their CEO and a legal dispute regarding the patent protection expiration of their COPAXONE drug, used to treat multiple sclerosis. The company’s third quarter saw net revenue of $5.1 billon.