EDISON EQUITY RESEARCH: ALEXZA PHARMACEUTICALS
November 09 2015 - 9:35AM
InvestorsHub NewsWire
EDISON EQUITY RESEARCH: ALEXZA PHARMACEUTICALS - REGAINING
US ADASUVE RIGHTS, NEW OPPORTUNITY?
Alexza and Teva have reached an agreement whereby Alexza will
reacquire the US commercial rights for Adasuve, with a projected
target completion date of 1 January 2016. US sales since the March
2014 launch have been tepid (Teva-derived product revenue to Alexza
was under $3m) and recent developments at Teva (ie Actavis
acquisition) may have deprioritized Adasuve’s position within the
firm. While Teva’s Adasuve relinquishment may reflect a reduced
long-term sales outlook, the process may actually help facilitate
Alexza’s ongoing strategic review. An outright sale or royalty
agreement for Alexza’s entire interest in Adasuve may be more
straightforward once US rights are regained.
Alexza develops products for the acute treatment of CNS disorders
using its proprietary Staccato rapid inhalation drug delivery
system. Adasuve is approved (US and EU) for the acute treatment of
agitation in patients with schizophrenia or bipolar I disorder.
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