Teva Pharmaceutical Industries Ltd. Receives FDA Approval for First Generic Equivalent to Nexium

Strategic Insights -

Teva Pharmaceutical Industries Ltd., a leading global pharmaceutical company, has announced the FDA approval of the first generic equivalent to Nexium (esomeprazole magnesium) Delayed-Release Capsules in the United States. This approval marks a significant milestone for Teva, as Nexium Delayed-Release Capsules, marketed by AstraZeneca, had annual sales of approximately $6 billion in the United States as of November 2014. The company is now preparing to launch the product in the near future.

Key Takeaways:

  • Teva Pharmaceutical Industries Ltd. has received FDA approval for the first generic equivalent to Nexium (esomeprazole magnesium) Delayed-Release Capsules in the United States.
  • Nexium Delayed-Release Capsules, marketed by AstraZeneca, had annual sales of approximately $6 billion in the United States as of November 2014.
  • Teva is preparing to launch the product in the near future, marking a significant milestone for the company.
  • The approval of this generic equivalent will increase competition in the market, potentially leading to price reductions for consumers.
  • Teva Pharmaceutical Industries Ltd. is a leading global pharmaceutical company, committed to increasing access to high-quality healthcare by developing, producing and marketing affordable generic drugs as well as innovative and specialty pharmaceuticals and active pharmaceutical ingredients.
  • The company has a global product portfolio of more than 1,000 molecules and a direct presence in approximately 60 countries.
  • Teva's Specialty Medicines businesses focus on CNS, respiratory, oncology, pain, and women's health therapeutic areas as well as biologics.

Statistics:

  • $6 billion: annual sales of Nexium Delayed-Release Capsules in the United States as of November 2014 (IMS data).
  • 1,000+: global product portfolio of Teva Pharmaceutical Industries Ltd.
  • 60+: countries where Teva has a direct presence.
  • 45,000+: employees worldwide.
  • $20.3 billion: net revenues in 2013.

Sources:

  • Teva Pharmaceutical Industries Ltd.
  • FDA approval press release (no specific date mentioned).
  • AstraZeneca.
  • IMS data as of November 2014.