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|June 17, 2013 9:31 a.m.|
|Teva Strengthens Respiratory Franchise with Acquisition of MicroDose Therapeutx|
JERUSALEM--(BUSINESS WIRE)--Jun. 17, 2013--
With the addition of MicroDose’s technologies and products, Teva is taking a significant step toward expanding its respiratory pipeline. Teva will now have access to MicroDose’s proprietary technology including its multi-dose dry powder nebulizer device, which requires no preparation and can be administered in under 30 seconds. MicroDose’s current pipeline is anchored by MDT-637 for respiratory syncytial virus (RSV) - an inhaled, low dose, small molecule, fusion inhibitor which prevents viral replication, delivered via MicroDose’s technology.
“I am thrilled that Teva can now count the exciting MicroDose products and technologies amongst our growing respiratory portfolio. The MicroDose platform is both simple and attractive, and their addition will help us to address the unmet needs of the youngest and oldest patients, who have a requirement for a better way of taking the medicines they rely upon,” stated
Under the terms of the deal, Teva will acquire all of MicroDose’s outstanding shares for a payment at closing of
Stifel acted as exclusive financial advisor to MicroDose Therapeutx in this transaction.
MicroDose Therapeutx is a private pharmaceutical company founded in 1998 and focused on developing proprietary pulmonary and oral products that address large unmet market opportunities, and on dry powder inhalation and combination oral dosage delivery platforms. The company has developed its products and technologies independently, as well as in partnership with leading pharmaceutical companies. MicroDose’s current pipeline targets respiratory diseases such as asthma and COPD, respiratory viruses and infections – including RSV – as well as IBS-C and constipation.
Teva's Safe Harbor Statement under the
This release contains forward-looking statements, which express the current beliefs and expectations of management. Such statements are based on management’s current beliefs and expectations and involve a number of known and unknown risks and uncertainties that could cause our 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 risks relating to: our ability to develop and commercialize additional pharmaceutical products, competition for our innovative products, especially Copaxone® (including competition from innovative orally-administered alternatives, as well as from potential purported generic equivalents), competition for our generic products (including from other pharmaceutical companies and as a result of increased governmental pricing pressures), competition for our specialty pharmaceutical businesses, our ability to achieve expected results through our innovative R&D efforts, the effectiveness of our patents and other protections for innovative products, decreasing opportunities to obtain U.S. market exclusivity for significant new generic products, our ability to identify, consummate and successfully integrate acquisitions, the effects of increased leverage as a result of recent acquisitions, the extent to which any manufacturing or quality control problems damage our reputation for high quality production and require costly remediation, our potential exposure to product liability claims to the extent not covered by insurance, increased government scrutiny in both the U.S. and