Alexza’s partner Teva launches antipsychotic Adasuve in USA

4 March 2014

US drug developer Alexza Pharmaceuticals (Nasdaq: ALXA) says that its marketing partner, Israel-based generic drugs giant Teva Pharmaceutical Industries (NYSE: TEVA), has launched Adasuve (loxapine) inhalation powder in the USA. Alexza’s shares rose 2.2% to $5.65 in mid-morning trading yesterday on the news, but closed the day up 1.3% at $5.55.

Adasuve, the first and only orally inhaled medicine for the acute treatment of agitation associated with schizophrenia or bipolar I disorder in adults, is licensed to Teva for the USA under an agreement that involved a $40 million upfront payment and up to $195 million in additional milestone payments, based upon successful completion of the Adasuve post-approval studies in the USA and achieving net sales targets. In addition, Teva will make tiered, royalty payments based on net commercial sales of the drug (The Pharma Letter May 9, 2013).

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