- Teva has reached an agreement with AstraZeneca allowing it to market a generic copy of the injectable diabetes drug Byetta by late next year, the Israeli drugmaker said Thursday.
- Under the deal, Teva will be able to commercialize Byetta in the U.S. starting on October 15, 2017, although a statement alluded to certain circumstances by which sales could begin earlier.
- While a generic competitor will crimp sales, AstraZeneca has already switched its focus to the extended release version of the GLP-1 drug, called Bydureon.
Byetta and Bydureon earned nearly $900 million for AstraZeneca last year, but the lions share of that revenue was driven by growing sales of Bydureon, which jumped 32% year over year.
Sales of Byetta dropped slightly by 3% in 2015, before plunging 31% in the first quarter (compared to the same period a year prior).
The settlement between Teva and AstraZeneca involved seven different patents on the drug and will give Teva the rights to both manufacture and sell Byetta in the U.S.