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June 13, 2016 8:03 AM EDT
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TEVA Hot Sheet
Price: $53.22 +0.40%
Overall Analyst Rating:
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Dividend Yield: 2.4%
EPS Growth %: -11.8%
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Teva Pharmaceutical Industries, Ltd. (NYSE: TEVA) announced today that it will voluntarily suspend sales, marketing and distribution of ZECUITY® (sumatriptan iontophoretic transdermal system). Teva has received post-marketing reports of application site reactions described as burns and scars in patients treated with ZECUITY, and is working in full cooperation with the U. S. Food and Drug Administration (FDA) to better understand these adverse events. In addition to this voluntary suspension, Teva has initiated a pharmacy-level recall of the product.
“At Teva, the wellbeing of people using our products is always the first priority. Given our deep commitment to patient safety, we will engage in a voluntary suspension of marketing while we continue our investigation into the root cause of these adverse skin reactions,” said Rob Koremans, M.D., President and Chief Executive Officer of Global Specialty Medicines at Teva. “We will continue to work closely with the FDA to resolve any remaining questions.”
Patients are advised to discontinue the use of ZECUITY and discuss alternative treatment options with their physicians. Teva has issued a Dear Health Care Provider Letter to alert the prescribing
Teva Headache Patch Has Burned Many Patients, FDA Says
By Jeff Overley
Law360, New York (June 2, 2016, 7:21 PM ET) -- The U.S. Food and Drug Administration on Thursday reported that “a large number of patients” have suffered severe burns and scars after using a migraine headache patch sold by Teva Pharmaceuticals and that the product’s safety is getting fresh scrutiny.
In a safety communication, the FDA said it is investigating reports of “serious burns and potential permanent scarring” in connection with Zecuity, a transdermal patch approved in 2013 for the treatment of migraines and launched in the U.S. in September.
The battery-powered patch is worn on the upper arm or thigh for up to four hours and delivers sumatriptan, a widely prescribed anti-migraine drug that’s been on the market for 25 years. Common side effects of Zecuity include skin redness and discomfort, but the FDA on Thursday described adverse events that have been much more alarming.
“The reports included descriptions of severe redness, pain, skin discoloration, blistering and cracked skin,” FDA officials said. “As a result, we are investigating these serious adverse events to determine whether future regulatory action is needed.”
In a statement on Thursday, Israel-based Teva said it is “working closely with the FDA on the investigation.”
“At Teva, there is nothing more important to us than the health and safety of those who use our products,” the company said.
The agency said that patients should “immediately remove” Zecuity and contact a doctor if they experience moderate to severe pain at the application site. In such situations, a different drug or a different formulation of sumatriptan should be considered, according to the FDA.
Teva acquired Zecuity in 2014 when it purchased Pennsylvania-based NuPathe Inc. for nearly $115 million. The product’s main selling point is its ability to deliver sumatriptan into the bloodstream more quickly than pills by skipping the gastrointestinal tract.
Other skin patches have generated serious cosmetic concerns in the past. For example, the FDA last year warned that the Daytrana patch sold by Noven Pharmaceuticals Inc. to treat attention deficit hyperactivity disorder could cause permanent loss of skin color.
--Additional reporting by Dani Kass. Editing by Philip Shea.
Teva Headache Patch Has Burned Many Patients, FDA Says
By Jeff Overley
Law360, New York (June 2, 2016, 7:21 PM ET) -- The U.S. Food and Drug Administration on Thursday reported that “a large number of patients” have suffered severe burns and scars after using a migraine headache patch sold by Teva Pharmaceuticals and that the product’s safety is getting fresh scrutiny.
In a safety communication, the FDA said it is investigating reports of “serious burns and potential permanent scarring” in connection with Zecuity, a transdermal patch approved in 2013 for the treatment of migraines and launched in the U.S. in September.
The battery-powered patch is worn on the upper arm or thigh for up to four hours and delivers sumatriptan, a widely prescribed anti-migraine drug that’s been on the market for 25 years. Common side effects of Zecuity include skin redness and discomfort, but the FDA on Thursday described adverse events that have been much more alarming.
“The reports included descriptions of severe redness, pain, skin discoloration, blistering and cracked skin,” FDA officials said. “As a result, we are investigating these serious adverse events to determine whether future regulatory action is needed.”
In a statement on Thursday, Israel-based Teva said it is “working closely with the FDA on the investigation.”
“At Teva, there is nothing more important to us than the health and safety of those who use our products,” the company said.
The agency said that patients should “immediately remove” Zecuity and contact a doctor if they experience moderate to severe pain at the application site. In such situations, a different drug or a different formulation of sumatriptan should be considered, according to the FDA.
Teva acquired Zecuity in 2014 when it purchased Pennsylvania-based NuPathe Inc. for nearly $115 million. The product’s main selling point is its ability to deliver sumatriptan into the bloodstream more quickly than pills by skipping the gastrointestinal tract.
Other skin patches have generated serious cosmetic concerns in the past. For example, the FDA last year warned that the Daytrana patch sold by Noven Pharmaceuticals Inc. to treat attention deficit hyperactivity disorder could cause permanent loss of skin color.
--Additional reporting by Dani Kass. Editing by Philip Shea.
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Zecuity (sumatriptan) Migraine Patch: Drug Safety Communication - FDA Evaluating Risk of Burns and Scars
[Posted 06/02/2016]
AUDIENCE: Internal Medicine, Pain Management, Neurology, Pharmacy
ISSUE: FDA is investigating the risk of serious burns and potential permanent scarring with the use of Zecuity (sumatriptan iontophoretic transdermal system) patch for migraine headaches. Since marketing of the Zecuity patch began in September 2015, a large number of patients have reported they experienced burns or scars on the skin where the patch was worn. The reports included descriptions of severe redness, pain, skin discoloration, blistering, and cracked skin. As a result, FDA is investigating these serious adverse events to determine whether future regulatory action is needed, and will update the public with new information when the FDA review is complete.
BACKGROUND: The Zecuity patch contains the active ingredient sumatriptan, a prescription medicine used to treat acute migraine headaches in adults. The patch delivery system is designed to deliver a dose of medicine by way of a single-use, battery-powered patch that is wrapped around the upper arm or thigh. It should remain in place for no longer than four hours.
RECOMMENDATION: Patients who experience moderate to severe pain at the Zecuity patch site should immediately remove it to avoid possible burns or scarring, regardless of how long the patch has been worn, and contact your health care professional. Do not bathe, shower, or swim while wearing the patch. Read the Patient Information leaflet and the Instructions for Use section in the drug label, and talk with your health care professional if you have any questions or concerns.
Health care professionals should advise patients who complain of moderate to severe pain at the application site to remove the Zecuity patch immediately. Consider a different formulation of sumatriptan or switch these patients to an alternative migraine medicine. Evaluate patients and the application site as needed.
Healthcare professionals and patients are encouraged to report adverse events or side effects related to the use of this product to the FDA's MedWatch Safety Information and Adverse Event Reporting Program:
Complete and submit the report Online: www.fda.gov/MedWatch/report
Download form or call 1-800-332-1088 to request a reporting form, then complete and return to the address on the pre-addressed form, or submit by fax to 1-800-FDA-0178
[06/02/2016 - Drug Safety Communication - FDA]
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Means nothing to you. Means some attys are getting fees for having the Company making some additional disclosures.
Hove Teva sells a lot of this stuff in the next few years.
Received the pre-hearing Class-Action shareholders lawsuit notification in the mail today. Have any info this?
Teva Announces U.S. Availability of ZECUITY® (sumatriptan iontophoretic transdermal system), First and Only Transdermal Patch System for the Acute Treatment of Migraine
By
Published: Sept 1, 2015 8:00 a.m. ET
JERUSALEM, Sep 01, 2015 (BUSINESS WIRE) -- Teva Pharmaceutical Industries Ltd. TEVA, -1.52% today announced that ZECUITY®, the first and only patch system designed to provide relief from migraine, is now available by prescription through specialty pharmacies. ZECUITY® is a single-use, disposable patch system that delivers sumatriptan through the skin.The device is designed to be worn for a four-hour period either on the upper arm or thigh.
Approximately 36 million people in the United States suffer from migraine and its various characteristics. According to the American Migraine Study II, 85 percent of respondents experience throbbing pain, 80 percent experience sensitivity to light, 76 percent experience sensitivity to sound and 73 percent experience nausea.
“Migraine sufferers experiencing nausea as part of their migraine may delay or avoid treatment and may seek non-oral treatment options,” said Dr. Michael Hayden, President, Global R&D and Chief Scientific Officer. “At Teva, we are committed to delivering innovative treatments that improve patient care and are proud to offer ZECUITY® to people looking for a different route to migraine relief.”
In a clinical study, at two hours following application, significantly more patients using ZECUITY® versus a non-medicated patch system reported, as the study’s primary endpoint, no headache pain (18 percent versus 9 percent). The secondary endpoints of the study showed that, at two hours following application, significantly more patients reported no nausea (84 percent versus 63 percent), no sensitivity to sound (55 percent versus 39 percent), no sensitivity to light (51 percent versus 36 percent), or headache pain relief (53 percent versus 29 percent). The most common side effects reported for ZECUITY®included pain, tingling, itching, warmth, discomfort or a change in the skin color at the application site of ZECUITY®.
In conjunction with the availability of ZECUITY®, Teva is launching Migraine Support SolutionsSM to provide migraine education and assistance with ZECUITY®including a special offer that could save patients money on their prescriptions. To contact Migraine Support SolutionsSM, call 1-855-ZECUITY (1-855-932-8489).
ZECUITY® is a prescription medicine used for the acute treatment of migraine headaches with or without aura in adults. ZECUITY® is used for people who have been told by a healthcare provider that they have migraine headaches. ZECUITY® is not used to prevent or decrease the number of migraine headaches you have.
Important Safety Information
ZECUITY® can cause serious side effects, including heart attack and other heart problems, which may lead to death. Stop using ZECUITY® and get emergency medical help right away if you have symptoms of a heart attack. ZECUITY® is not for people with risk factors for heart disease unless a heart exam is done and shows no problem. Do not use ZECUITY® if you have:
heart problems or a history of heart problems; had a stroke, transient ischemic attacks (TIAs), or problems with your blood circulation; narrowing of blood vessels to your legs, arms, stomach, or kidney; uncontrolled high blood pressure
hemiplegic migraines or basilar migraines; taken any triptan, ergot, or ergot-type medicines in the last 24 hours. Ask your doctor if you are not sure.
severe liver problems; or an allergy to sumatriptan, the medicine in ZECUITY®, or any of the components in ZECUITY®.
ZECUITY® may cause other serious side effects including:
injury during a Magnetic Resonance Imaging (MRI). ZECUITY® contains metal parts and must be removed before an MRI.
allergic contact dermatitis—a serious skin reaction where ZECUITY® is applied.
changes in color or sensation in your fingers and toes
stomach and intestinal problems
problems with blood circulation to your legs and feet
medication overuse headaches
serotonin syndrome—a rare but serious problem that can happen in people using ZECUITY®, especially when used with anti-depressant medicines called SSRIs or SNRIs.
increases in blood pressure
serious allergic reactions. Get medical help right away if you have any of these symptoms: swelling of your face, lips, mouth, or tongue; trouble breathing; wheezing; severe itching; skin rash, redness, or swelling; dizziness or fainting; fast heartbeat or pounding in your chest; or sweating.
seizures.
The most common side effects of ZECUITY® include pain, tingling, itching, warmth, discomfort or a change in the skin color at the application site of ZECUITY®.
For full Prescribing Information, please visit ZECUITY.com/PDF/ZECUITY_PI.pdf
For more information, visit www.ZECUITY.com or call 855-ZECUITY (855-932-8489)
About Migraine
Migraine is defined as recurring attacks of moderate to severe pain, and the International Headache Society’s diagnostic criteria for migraine include experiencing at least 5 attacks, lasting 4-72 hours if untreated, in addition to nausea and/or vomiting, or sensitivity to light or sound. Approximately 36 million people in the United States suffer from migraine. Migraine is three times more common in women than in men and affects more than 10 percent of people worldwide. There is no absolute cure for migraine since its pathophysiology has yet to be fully understood. Sumatriptan is the most widely prescribed migraine medication, based on the number of prescriptions for migraine/IMS National Rx Audit, July 2014/All Rights Reserved by IMS.
About Teva
Teva Pharmaceutical Industries Ltd. (nyse and tase:TEVA) is a leading global pharmaceutical company that delivers high-quality, patient-centric healthcare solutions to millions of patients every day. Headquartered in Israel, Teva is the world’s largest generic medicines producer, leveraging its portfolio of more than 1,000 molecules to produce a wide range of generic products in nearly every therapeutic area. In specialty medicines, Teva has a world-leading position in innovative treatments for disorders of the central nervous system, including pain, as well as a strong portfolio of respiratory products. Teva integrates its generics and specialty capabilities in its global research and development division to create new ways of addressing unmet patient needs by combining drug development capabilities with devices, services and technologies. Teva's net revenues in 2014 amounted to $20.3 billion. For more information, visit www.tevapharm.com.
Teva's Safe Harbor Statement under the U. S. Private Securities Litigation Reform Act of 1995:
Looks like Teva finally has put it on the market
http://www.zecuity.com/
Move...drop me a PM if you got my message.
Best Wishes
we r on the right path
I want in, but at what price?
Teva has been on an acquisition spree of late. The company acquired NuPathe Inc. in Feb 2014, which added to its portfolio the only FDA-approved migraine patch, Zecuity, for the treatment of acute migraine (with or without aura) in adults. The LBR-101 development program coupled with Zecuity will boost Teva's pain portfolio.
Freshcoat,
The way I understand the tender offer from ENDO was that they would pay $2.85 per share and promise to pay additional amounts given future sales goals were reached. There is a new offer on the table from TEVA for $3.65 (if memory serves) with the same promise of additional payments based on meeting future sales goals. I guess the market believes there will be an increase in the takeover price. I hope the market is right.
Tom
that feels goooooood! making me weeeeeeeeeeeee
So How Does That Feel???
GLTA
A1
Path "skyrocketed 36% in pre-market trading on Wednesday as the company has received an acquisition offer from Israel’s Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA) for $114 million plus milestone payments related to NuPathe’s Zecuity migraine treatment. The offer of $3.65 per share has been made less than a month after U.S. specialty pharmaceutical company Endo Health Solutions Inc (ENDP) said it would acquire NuPathe for about $105 million, or $2.85 per share. The new bid represents a premium of 13 percent to NuPathe shares’ Tuesday close, excluding milestone payments."
http://www.istreetwire.com/stocks-rallying-on-good-news-nupathe-inc-path-catalyst-pharmaceutical-cprx-biomarin-bmrn-oclaro-inc-oclr-teva-pharmaceutical-industries-teva/143119/
Tom
Well so much for my genius plan of selling. Congrats to those who held
I sold mine at 3.21. Took my profit and moved on. It's just a deal that smells fishy to me. JMO. GLTA
To accept ENDO tender offer or not?
What have other stock owners decided to do with the offer from Endo to pay $2.15 per share with a possibility of future distributions of up to $3.15? Does it pay to wait to "see" if the friendly tender offer is accepted or should I just bail and move on?
Any and all suggestions would be appreciated.
Tom
I'm full out, but still keeping an eye on her. Can't get my mind fully around the upcoming events. (a) potential for new bidder (b) turning in stock for 2.85/share + promise payments on goals-met (c) how the short-covering may affect the share price as the closing deadline approaches. It's the potential for short covering which keeps me around/interested.
Today WSJ reports that Path has 3.1m shares short (rpt date mid dec) out of a 13.6m float (~22% of the float). The stock close up a nickle even on selling pressure and money outflow. Aprox 2% of the shorts covered (this may be from the last reported date in Nov)... so this is possibly what short covering looks like... if one had daily short data... (price up with MF out, price up 5 cents). Can the shorts keep this up slow and steady and keep a (relative) lid on the price... anyone want to weigh in?
CONGRAT$$$$$$$$$$ PATH
8:15AM Gapping up (SCANX) : M&A news: PATH +60.9% (NuPathe to be acquired by Endo Health Solutions (ENDP) for $2.85 per share in cash; in addition, shareholders will receive rights to receive additional cash payments of up to $3.15 per share if specified net sales of NuPathe's migraine treatment ZECUITY are achieved over time)
7:38AM NuPathe resumes trading up 61% (PATH) 2.30 : (NuPathe to be acquired by ENDP for $2.85 per share in cash; in addition, shareholders will receive rights to receive additional cash payments of up to $3.15 per share if specified net sales of NuPathe's migraine treatment ZECUITY are achieved over time)
will the shorts drive the price today trying to cover?
So realistically we should be seeing about 5$
Thx 4 that!
http://www.4-traders.com/NUPATHE-INC-6464319/news/NuPathe-Inc--Endo-to-Acquire-Specialty-Pharmaceutical-Company-NuPathe-17615931/
This part.. where we consider the likelihood of either 100 million to 300 million in sells from the aqusition date through the following 4 qtrs. From Yahoo board (if I remember correctly) one of the key posters (who also was right about the buy-out and called ENDO a leading candidate a couple months back) said 100 m is no prob; tifwiw.
"Under the terms of the merger agreement, an affiliate of Endo will promptly commence a tender offer to acquire all of the outstanding shares of NuPathe's common stock for $2.85 per share in cash and the right to receive contingent cash consideration payments of up to $3.15 per share if specified net sales milestones for NuPathe's migraine treatment ZECUITY are achieved. The contingent cash consideration payments will not be publicly traded. The contingent cash consideration payments can be summarized as follows:
·
$2.15 per share if net sales of ZECUITY exceed $100 million during any four-quarter period prior to the ninth anniversary of the first commercial sale of ZECUITY; and
·
An additional $1.00 per share if net sales of ZECUITY exceed $300 million during any four-quarter period prior to the ninth anniversary of the first commercial sale of ZECUITY.
The affiliate of Endo that consummates the tender offer will enter into a separate Contingent Cash Consideration Agreement with American Stock Transfer & Trust Company as Paying Agent to provide for the payment of the contingent cash consideration payments. The stockholders of NuPathe will be third party beneficiaries under this agreement. Pursuant to the terms of the Contingent Cash Consideration Agreement, Endo will guarantee the obligations of its affiliate to make the contingent cash consideration payments.
Following the successful completion of the tender offer, Endo will acquire all remaining shares not tendered in the tender offer through a second-step merger at the same price and the obligation to make the same contingent cash consideration payments as was deliverable to those stockholders tendering their shares in the tender offer. The tender offer and withdrawal rights are expected to expire at 12:00 midnight, New York City time on the 20th business day after the launch of the tender offer, unless extended in accordance with the merger agreement and the applicable rules and regulations of the Securities and Exchange Commission.
The consummation of the tender offer is subject to various conditions, including a minimum tender of a majority of outstanding NuPathe shares on a fully diluted basis, the expiration or termination of any applicable waiting periods under applicable competition laws, and other customary conditions. The board of directors of NuPathe unanimously approved the transaction.
The transaction is expected to be completed in early 2014.
Thx for that... I miss understood the whole thing
Why trading @ 3.70???
The buyout was for 2.85 with the possibility of getting 3.15 based on sales... Am I miss reading something ???
Patience pays (finally), so what's she going to trade to today, can guess ENDO's napkin valuation 2.85+ 3.15 = 6.00 a share; somebody chime in on todays trading guesstimate.
1 noticeable difference in this buyout is the "halted" status... Will it be paid out right away?
No share holders vote?
Strange...
Lmao!!!
I've never bought a stock which the company gets bought out & wammo, I'm apart of 2 buyouts in less than a week at least with the other (PTIX) I made some $$$
I had hopes I may actually end up in the green on this one... My average buy price is 3.44
Oh well, hope a few of you guys actually cleared a few $$$ on this
Cheers,
Thai
BUY OUT POSTED...
achieved over time (PATH) : Endo Health Solutions (ENDP) announced it has entered into a definitive agreement under which Endo will acquire NuPathe for $2.85 per share in cash, or ~ $105 mln. In addition to the upfront cash payment, NuPathe shareholders will receive rights to receive additional cash payments of up to $3.15 per share if specified net sales of NuPathe's migraine treatment ZECUITY are achieved over time. The contingent cash consideration payments will not be publicly traded. Endo expects meaningful cost synergies from the transaction, which is expected to be accretive to Endo's adjusted diluted earnings per share within the first 12 months of closing.
Following the successful completion of the tender offer, Endo will acquire all remaining shares not tendered in the tender offer through a second-step merger at the same price and the obligation to make the same contingent cash consideration payments as was deliverable to those stockholders tendering their shares in the tender offer. The tender offer and withdrawal rights are expected to expire at 12:00 midnight, New York City time on the 20th business day after the launch of the tender offer, unless extended in accordance with the merger agreement and the applicable rules and regulations of the Securities and Exchange Commission.
...lets light this candle!
Any thing significant about the 6th?
I Feel Something Is Coming...
By the 6th of January...
If not sooner...
GLTA
Based on that article alone I don't believe it puts that much fear into investors....again I only breezed over it