Sandoz adds its Copaxone competitor to scrap for share of Teva's losses
The tough times keep coming for Teva Pharmaceutical Industries (NYSE: TEVA).
Fresh from presenting a set of financial results that again prompted a double-digit share price decline, the Israeli drugmaker now faces another US competitor to its blockbuster drug Copaxone (glatiramer acetate), which is indicated for the treatment of patients with relapsing forms of multiple sclerosis (MS).
Sandoz, a unit of Swiss pharma giant Novartis (NOVN: VX), has announced the US Food and Drug Administration (FDA) approval and launch of Glatopa, a 40mg/mL three times-a-week generic option in this indication that was developed in a collaboration with Momenta Pharmaceuticals (Nasdaq: MNTA).
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