(JNi.media) Israel-based Teva will be the first pharmaceutical company approved to make a generic version of migraine medication Axert. The product will be sold in the United States.
The Almotripan malate tablets produced by Teva will be a generic alternative to Janssen’s Axert, which treats migraines with or without aura in adolescents and adults whose symptoms without medication would last at least four hours.
Teva will have market exclusivity until the only patent for Axert expires November 2015.
Migraines affect 18% of American women and 6% of American men and can be a debilitating condition. Around 90% of people who suffer from migraines cannot work or function normally while experiencing symptoms. Prior to the actual migraine, the sufferer may experience an “aura” characterized by blurred vision, confusion and difficulty communicating. The migraine may involved moderate to severe throbbing pain, nausea and sensitivity to light and noise.
Teva, Israel’s largest company, has been a leader in the creation of generic alternatives to leading drugs, but has been unsuccessful in its attempt to extend the patent of its proprietary drug for multiple sclerosis, Copaxone, which may be vulnerable to generic imitation when it goes off patent.
Teva is hoping to offset this risk by taking over competitor Mylan, which in turn, is in the market to buy Perrigo. Teva recently raised its buyout offer for Mylan by $2 billion to $43 billion.
Israel, thanks in part to Teva, has a potentially robust life sciences industry, but small biotech companies face obstacles of government red tape and securing sufficient funding. While Israel is known for its tech start-ups, life sciences is its largest industry, with 51 biotech companies listed on the Tel Aviv stock exchange. Large pharmaceutical companies such as Novartis and Johnson & Johnson have set up research centers in Israel, but Teva CEO Erez Vigodman believes that ingenuity needs to be channeled towards the development of homegrown companies that will remain independent.
“Start-up nation is not a sustainable model for Israel,” Vigodman told Reuters. “What Israel needs is more large companies.”