Teva Pharmaceutical Industries has completed a strategic review which will result in 14 projects being culled and no more development of cancer or women’s health products.
The Israeli drugmaker will focus its branded research efforts on the central nervous system and respiratory fields, whereas in other therapeutic areas, “such as women’s health and oncology where Teva has a significant commercial presence”, it will focus “on market-ready or close-to-market assets to maximise sustainable profitability”. The firm added that it will continue to evaluate opportunities for “commercially-oriented activities and collaborations”.
Teva added that it has identified 14 pipeline projects for discontinuation or divestment. These amount to more than $150 million in R&D costs in 2015 and in excess of $200 million for each of 2016 and 2017. The company stated that increased investment in the two core therapeutic areas will increase R&D productivity without raised the overall research budget.
Chief executive Erez Vigodman said that “our late-stage pipeline assets are expected to generate great value”’ He added that out of the 30-plus product launches planned by 2019, “with a total of over $4 billion in new revenue …over 20 products will be launched in these two core therapeutic areas”.