TORONTO, Nov. 17, 2015 /CNW/ - Teva Canada Limited, a subsidiary of Teva Pharmaceutical Industries Ltd., announced that Health Canada has approved its application for the generic version of PrTecta®. This medication is indicated for the treatment of conditions where a reduction of gastric acid secretion is required, including duodenal ulcer, gastric ulcer, reflux esophagitis and symptomatic gastro-esophageal reflux disease (such as acid regurgitation and heartburn).
PrTecta® had annual sales of approximately $138.8 million in Canada, based on IMS Brogan sales data as of September 2015. PrTeva-Pantoprazole Magnesium is available immediately in pharmacies across Canada.
"Proton pump inhibitor medications are used to treat a number of significant conditions affecting millions of Canadians," said Doug Sommerville, Senior Vice President and General Manager, Teva Canada Limited. "We are very pleased to be able to offer our more affordable, bioequivalent version of Tecta to patients today. By using lower cost generic prescription medicines, our government, employers and consumers saved nearly $14.8 billion in 2014 alone. It is our ongoing commitment to play a critical role in ensuring the sustainability of the healthcare system."
According to the Canadian Digestive Health Foundation, more than 1.3 million Canadians are living with stomach ulcers, and since 2006 the number of Canadians with ulcers has increased 1.5 times. One in every ten Canadians will develop a stomach ulcer at some point in their lifetime.i
About Teva Canada Limited
Teva Canada Limited, headquartered in Toronto, has provided affordable healthcare solutions for 50 years, with nearly 200,000ii prescriptions filled with our products every day. Originally Novopharm Limited, Teva Canada specializes in the development, production and marketing of high-quality generic prescription pharmaceuticals and through our branded division, Teva Canada Innovation, focuses on a diverse line of innovative products in a variety of therapeutic areas. Teva Canada employs more than 1,300 individuals, markets more than 400iii products in Canada and is a subsidiary of Teva Pharmaceutical Industries Ltd., the world's largest generic drug maker. For more information, visit: www.tevacanada.com or www.tevamakesmedicines.ca.
About Teva Pharmaceutical Industries Ltd.
Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) is a leading global pharmaceutical company that delivers high-quality, patient-centric healthcare solutions to millions of patients every day. Headquartered in Israel, Teva is the world's largest generic medicines producer, leveraging its portfolio of more than 1,000 molecules to produce a wide range of generic products in nearly every therapeutic area. In specialty medicines, Teva has a world-leading position in innovative treatments for disorders of the central nervous system, including pain, as well as a strong portfolio of respiratory products. Teva integrates its generics and specialty capabilities in its global research and development division to create new ways of addressing unmet patient needs by combining drug development capabilities with devices, services and technologies. Teva's net revenues in 2014 amounted to $20.3 billion. For more information, visit www.tevapharm.com.
i Canadian Digestive Health Foundation. Statistics. http://www.cdhf.ca/en/statistics. Accessed October 2015.
ii IMS Compuscript TRx MAT September 2015
iii IMS CD&H MAT September 2015
SOURCE Teva Canada Limited
For further information: PR Contact: Teva Pharmaceutical Industries Ltd., Denise Bradley, Sr. Vice President, Global Corporate Reputation, Teva Pharmaceuticals, p. +1.215.591.8974, firstname.lastname@example.org