Teva falls on disappointing sales forecast; Akcea and PTC take two drugs to Latin America
→ Teva $TEVA upped its profit outlook for the year today, but nevertheless saw its share price drop by about 5% as analysts highlighted the continued erosion of generic drug revenue. The Israeli company also noted that it expects to see a decision from the FDA on its migraine drug fremanezumab in mid-September after regulators delayed their review over manufacturing issues.
→ Akcea $AKCA, the growing Ionis $IONS spinout, is rolling out two of its drugs in Latin America with the help of a new partner. PTC Therapeutics $PTC, the Duchenne company that’s recently been nabbing up gene therapies, will sell Akcea’s Tegsedi and Waylivra in the region. Tegsedi has been approved by the European Commission to treat polyneuropathy in hATTR amyloidosis patients, and Waylivra is under regulatory review in the US, Europe, and Canada to treat familial chylomicronemia syndrome. “One of the key mutations that leads to hATTR amyloidosis occurs more frequently in individuals of Portuguese descent,” said Marcio Souza, chief operating officer at PTC, in a statement. “There are approximately 6,000 patients with polyneuropathic hATTR amyloidosis in Latin America, making it a strategically important region for Tegsedi. We are well positioned to file for registration in key Latin American countries in the short term.”
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