Teva Creates Parkinson’s Breakthrough Drug

Once again Israel has demonstrated that what it lacks in natural resources it more than makes up for in brainpower. Lucky for the world that it’s a renewable resource. News that Azilect, a drug that is co-developed by Teva Pharmaceuticals (TEVA), has been successful in the treatment of Parkinson’s Disease, is another in the long-line of cutting edge innovations produced in Israel, and exported to the the rest of the world.

According to a report in Haaretz: “Azilect, which is the brand name for rasagiline, was tested in 1 milligram tablets as a treatment for Parkinson’s Disease. Teva said yesterday that the drug can actually slow the disease’s progression, which can’t be said for any other therapy for the so-far incurable nervous system condition.”

For Teva, this drug has the potential to generate $1billion is sales, and be a mega-drug. Teva, biggest generic drug company in the world, has also turned into a R&D powerhouse focusing on neurological diseases. Copaxone, another Teva product which treats Multiple Sclerosis, has turned into the number 1 global treatment in the fight against MS.

For the more than 4 million Parkinson’s sufferers, this breakthrough could be life changing. Teva hopes to get regulatory permits to sell the drug not only as a treatment of the disease but also as a way to slow down the progression of the disease. They are shooting for the end of ‘09 to get the permits. For both investors and Parkinson’s sufferers, let’s hope they get the permits sooner rather than later.

Disclosure: Author’s fund has a position in TEVA as of 6/17/08.

Posted in Categories: Contributor, External Research, Stocks.

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