Teva’s Austedo Fails In Tourette’s Syndrome
Growth Driver Held Back In New Indication
Two late-stage trials of Austedo have missed their endpoints in the neurological disorder, meaning Teva will miss out on an additional revenue stream from the VMAT2 inhibitor.
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Teva has expanded on plans to improve its profit margins after emerging from a years-long restructuring program that has cut its cost base by over $3bn. The Israeli company reported first-quarter sales ahead by 5% to $4.36bn, seeing a “mixed bag” effect from the COVID-19 pandemic as well as positive results from new launches including two US biosimilars.
After most of the big pharmaceutical companies reported their full-year 2019 financial results, the second month of earnings season brings the long tail of smaller biotech companies and the generic pharmaceutical companies. There is more than one uncomfortable parallel from the former in the reports of the latter.
In "very top-line" Phase IIb data, the magnitude of the treatment effect for valbenazine in children with Tourette syndrome was weaker than expected, and its loss from active development means there will be only a handful of candidates under evaluation for the disorder.