Teva's downsizing efforts squeeze out women's health and cancer R&D
- After a strategic review, Teva has decided to discontinue 14 pipeline projects, including women's health and cancer R&D.
- Teva will increase its investment in two core therapeutic areas, including respiratory health and central nervous system (CNS) therapeutics.
- Total cost savings for Teva between 2015 and 2017 are projected to hit $550 million.
The decision to divest resources from women's health and cancer R&D does not mean that Teva is completely abandoning all projects in these areas, although it is not currently initiating any new pre-clinical or phase I projects.
Teva has a solid market presence in both women's health and cancer and is committed to focusing on "market-ready" or "close-to-market" assets, with the goal of maximizing profitability. Because of the $550 million in anticipated savings, the increased investment in R&D activities related to CNS and respiratory health will not raise the company's overall research budget.
Going forward, Teva is looking to launch more than 30 new products within the next five years, resulting in more than $4 billion in aniticipated new revenues.
- Pharma Times Teva ends cancer and women's health R&D