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|December 27, 1999 10:37 a.m.|
|Teva pharmaceutical industries Ltd. to launch generic equivalent of cardizem cd in all dosage forms immediately|
| December 27, 1999, Petach Tikva, Israel. Teva Pharmaceutical Industries Ltd. (NASDAQ:TEVA) today announced that it will immediately launch to Diltiazem Extended Release Capsules (once-a-day) in all dosage strengths. |
Diltiazem ER is the generic equivalent of Hoechst's Cardizem CD, which is indicated for the treatment of hypertension and angina. Sales for Cardizem CD in United States for the twelve months ended June 30th, 1999 exceeded $650 million.
Earlier Biovail Corporation International (NYSE: TSE: BVF) received final approval from the FDA for the generic version Cardizem CD. Teva has exclusive marketing rights from Biovail for the United States.
Teva Pharmaceutical Industries Ltd. Limited is Israel's largest pharmaceutical company, with 80% of its sales outside Israel, mainly in the United States. The Company develops, manufactures, and markets generic and branded human pharmaceuticals, active pharmaceutical ingredients, medical disposables and veterinary products.
Safe Harbor Statement: This release contains-forward looking statements which express the beliefs and expectations of management. Such statements are based on current expectations and involve a number of known and unknown risks and uncertainties that could cause the Company's future results, performance or achievements to differ significantly from the results, performance or achievements expressed or implied by such forward-looking statements. Important factors that could cause or contribute to such differences include the impact of pharmaceutical industry regulation, the difficulty of predicting FDA and other regulatory authority approvals, the regulatory environment and changes in the health policies and structure of various countries, acceptance and demand for new pharmaceutical products and new therapies, the impact of competitive products and pricing, the availability and pricing of ingredients used in the manufacture of pharmaceutical products, uncertainties regarding market acceptance of innovative products newly launched, currently being sold or in development, the impact of restructuring of clients, reliance on strategic alliances, fluctuations in currency, exchange and interest rates, operating results, the impact of the year 2000 issue and other factors that are discussed in the Company's Annual Report on Form 20-F and the Company's other filings with the U.S. Securities and Exchange Commission