Teva Loses Copaxone Market Exclusivity
Rival Mylan received FDA approval for its generic versions of Copaxone, Teva’s flagship drug
Lilach Baumer : 2017-10-04T11:30:25..
Pharma company Mylan N.V. received the approval of the U.S. Food and Drug Administration for its generic versions of Teva Pharmaceutical Industries Ltd.'s star drug Copaxone and will begin shipment very soon, Mylan announced Monday.
Copaxone is used to treat relapses in patients with Multiple Sclerosis, a chronic inflammatory disease of the central nervous system. Developed in the 1990s, the drug netted the company around $40 billion over the last two decades. Teva's patent expired last August, prompting a race for the generic version of the lucrative drug. Copaxone costs over $91 thousand a year in the U.S.