Teva Cites Biosimilar Strength in Third-Quarter Earnings

Israel-based Teva Pharmaceutical Industries reported revenues of $4 billion for the third quarter of 2020 and said earnings were driven in part by rituximab biosimilar (Truxima), which it launched on the US market in 2019 in partnership with Celltrion Healthcare.

Celltrion developed the product, which became the first rituximab biosimilar approved by the FDA in November 2018.

The company reported combined biosimilar and generic product revenues of $928 million for the third quarter, which is up 2% vs the year-ago quarter. “This increase was mainly due to higher revenues from Truxima and from our ProAir (albuterol inhaler) authorized generic, partially offset by lower volume of other generic products,” a Teva statement said. Specific product revenues for Truxima, Teva’s first biosimilar offering, were not provided.

Also in conjunction with Celltrion, Teva launched the trastuzumab biosimilar Herzuma in the United States in March 2020. In August, the company announced a partnership with Alvotech to commercialize 5 unnamed biosimilars in the United States.