Teva to raise share of US Copaxone marketing rights

The company will take 75% of the revenue from the MS drug in the US, with the remainder belonging to Sanofi Aventis.

In the conference call pharmaceuticals company Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) held with US analysts today, the company revealed an interesting detail in its plans for 2007. Teva will buy part of the US marketing rights for multiple sclerosis treatment Copaxone that it holds jointly with Sanofi Aventis.

Under the original agreement between the two companies, Teva was to have received the full marketing rights to Copaxone only in 2008. In the conference call, however, Teva said that it would bring forward the purchase of part of the rights, such that it will enjoy 75% of the revenue from the drug, with the remainder going to the French company.

Published by Globes [online], Israel business news - www.globes.co.il - on February 13, 2007

© Copyright of Globes Publisher Itonut (1983) Ltd. 2007

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