Teva Pharmaceutical Industries Ltd (ADR)(NYSE:TEVA) reported the exclusive release of two strengths of a generic version of ER tablets named Solodyn®, 115 and 65 mg, in the U.S. Minocycline Hydrochloride ER tablets marks as a tetracycline-class medication indicated to cure only inflammatory lesions of non-nodular moderate-to-severe acne vulgaris in people 12 years of age and older.
Brendan O’Grady, the EVP and Head of North America Commercial, expressed that the release of two strengths of their generic version of Solodyn® offers an effective, affordable treatment alternative to people who are managing this problem, and marks their ninth generic drug in the tetracycline segment.
With almost 600 generic drugs available, Teva boasts the largest portfolio of FDA-permitted generic offerings on the market and holds the major position in first-to-file prospects, with more than 100 pending first-to-files in the United States. Presently, 1 in 7 generic prescriptions distributed in the U.S. has a Teva generic product. However, company’s core generics segment has been in dismay over the preceding few quarters. Revenue from generics in the fourth quarter was down 16% YoY.
As per the latest IMS data, Solodyn® ER tablets had annual sales of around $148 million in the United States. It should be noted that Minocycline Hydrochloride ER tablets did not showcase any impact on non-inflammatory acne lesions. The safety of drug has not been established beyond twelve weeks of use. The respective minocycline formulation has not been assessed in the treatment of infections. To lower the growth of drug-resistant bacteria and to maintain the use of other antibacterial medications, Minocycline Hydrochloride ER tablets should be used just as indicated.
Investors were disappointed after Teva reported dismal fiscal performance for the fourth quarter. EBITDA and revenue declined YoY by 29% and 16%, respectively. More recently, the company increased prices on seven drugs in a range of 2.3% to 9.4%.