Teva will donate 6 Million tablets through wholesalers to hospitals by March 31, and more than 10 Million within a month
TEL AVIV, Israel & PARSIPPANY, N.J.-(BUSINESS WISE) - Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVוA) announced today the immediate donation of more than 6 million doses of hydroxychloroquine sulfate tablets through wholesalers to hospitals across the U.S. to meet the urgent demand for the medicine as an investigational target to treat COVID-19. The company is also looking at additional ways to address the global need.
“We are committed to helping to supply as many tablets as possible as demand for this treatment accelerates at no cost,” said Brendan O’Grady, Teva Executive Vice President, North America Commercial. “Immediately upon learning of the potential benefit of hyroxychloroquine, Teva began to assess supply and to urgently acquire additional ingredients to make more product while arranging for all of what we had to be distributed immediately.”
Additional production of hydroxychloroquine sulfate tablets is also being assessed and subsequently ramped up with materials that are being sent to Teva from our ingredient supplier. Teva will ship 6 Million tablets through wholesalers to hospitals by March 31, and more than 10 Million within a month.
Hydroxychloroquine sulfate tablets manufactured by Teva are approved by U.S. Food and Drug Administration (FDA) for the treatment of malaria, lupus erythematosus and rheumatoid arthritis. Although the product is not currently approved for use in the treatment of COVID-19, it is currently under investigation for efficacy against the coronavirus and has been requested by US government officials to be made available for use immediately. The Company is also reviewing supply of both hydroxychloroquine and chloroquine globally to determine whether there are additional supply and access opportunities for patients.
Teva is also actively looking across its expansive range of products to determine if the company can help to provide any other products that may be relevant in addressing acute and substantial need during the COVID-19 crisis.
Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) has been developing and producing medicines to improve people’s lives for more than a century. We are a global leader in generic and specialty medicines with a portfolio consisting of over 3,500 products in nearly every therapeutic area. Around 200 million people around the world take a Teva medicine every day, and are served by one of the largest and most complex supply chains in the pharmaceutical industry. Along with our established presence in generics, we have significant innovative research and operations supporting our growing portfolio of specialty and biopharmaceutical products. Learn more at www.tevapharm.com.
FORWARD LOOKING STATEMENT
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 which are based on management’s current beliefs and expectations and are subject to substantial risks and uncertainties, both known and unknown, that could cause our future results, performance or achievements to differ significantly from that expressed or implied by such forward-looking statements. Factors that could cause or contribute to such differences are discussed in our Quarterly Reports on Form 10-Q for the first, second and third quarter of 2019 and in our Annual Report on Form 10-K for the year ended December 31, 2018, including in the sections captioned “Risk Factors.” Forward-looking statements speak only as of the date on which they are made, and we assume no obligation to update or revise any forward-looking statements or other information contained herein, whether as a result of new information, future events or otherwise. You are cautioned not to put undue reliance on these forward-looking statements.