OPKO gets rights to Teva's budesonide
Miami, USA-based OPKO Health says that it has acquired exclusive worldwide rights from Israel's Teva Pharmaceuticals Industries to its proprietary formulation of budesonide for the treatment of various inflammatory and allergic conditions of the eye. Teva's product is currently marketed in Italy under the trade name Xavin for the treatment of asthma.
Budesonide is a corticosteroid which has been used for more than 20 years for the treatment of multiple respiratory indications, including asthma, hay fever and other allergies, with demonstrated safety and efficacy.
"We believe that this budesonide formulation can be used for a broad range of ophthalmic indications and has the potential to be a best in class product," said Naveed Shams, OPKO's chief medical officer. "This acquisition is consistent with our strategy of acquiring agents that have a superior risk-benefit profile with significant commercial promise. We look forward to the development of this product in an expeditious and cost-efficient manner," he added.
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