Phase II Data on Teva Candidate - Analyst Blog
May 19 2011 - 6:45AM
Zacks
Teva Pharmaceutical Industries Ltd. (TEVA) and
CureTech recently presented preliminary top-line results on their
oncology candidate, CT-011. Results from a phase II study showed
that CT-011 met the primary endpoint of improved progression-free
survival (PFS) in patients with diffuse large B cell lymphoma
(DLBCL) following autologous stem cell transplantation.
CT-011 also achieved statistical significance in the secondary
endpoint of overall survival. Results showed that about 70% of
patients treated with CT-011 achieved progression-free survival
compared to 47% of patients in the historical control. Besides
this, about 84% of patients treated with CT-011 achieved overall
survival compared to 62% in the historical control.
Full results from the phase II study, which was conducted with
72 patients across the US, Asia, South America, and Israel, will be
available in the third quarter of 2011. CT-011 is expected to move
into phase III studies later this year. DLBCL, an aggressive form
of non-Hodgkin's lymphoma (NHL), is estimated to affect about 40%
of all NHL patients.
Teva currently holds 33% of CureTech and has the option to
invest further in the company. Teva has been pretty active on the
acquisition front in the past few quarters. So far in 2011, the
company has struck several deals, including the upcoming
acquisition of biopharma company, Cephalon, Inc.
(CEPH).
The Cephalon deal, which is scheduled to close in the third
quarter of 2011, will not only strengthen Teva’s pipeline, it
should also help the company achieve its goal of increasing its
branded revenues from $4.6 billion in 2010 to more than $9 billion
in 2015.
We currently have a Neutral recommendation on Teva, which
carries a Zacks #3 Rank (short-term Hold rating).
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