Teva Pharmaceutical Industries Limited (TEVA) Zones in on Major Brain Disorders in Comeback Move
7/23/2013 7:24:09 AM
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Teva Pharmaceutical Industries expects to complete development of new medicines in the next few years aimed at treating brain disorders as the global population ages, its chief executive said. Israel-based Teva, the world's largest generic drugmaker, is seven months into a sweeping reorganisation as it seeks to mitigate lost revenue from increased competition from copies of its best-selling branded multiple sclerosis drug Copaxone. Teva is investing $15 million over five years and has already given grants to more than 50 projects at Israeli universities to tackle diseases such as Alzheimer's, Huntington's, Parkinson's and amyotrophic lateral sclerosis (ALS).
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