TORONTO, Sept. 10, 2014 /CNW/ - Teva Canada Limited, a subsidiary of Teva Pharmaceutical Industries Ltd., announced today that Health Canada has approved its application for the generic version of PrCipralex® for the symptomatic relief of Major Depressive Disorder (MDD).
PrCipralex® had annual sales of approximately $260 million in Canada, based on IMS Brogan sales data as of July 10, 2014. PrTeva-Escitalopram is available immediately in pharmacies across Canada.
"Teva Canada works on behalf of patients, provinces and payers to bring more affordable, safe medications to the market as soon as possible, leaving value in the system for innovation into the next generation of medicines," said Doug Sommerville, Senior Vice President and General Manager, Teva Canada Limited. "New generic launches in Canada over the last three years have saved patients and payers more than $2.3 billion versus the cost of the equivalent brand name drug product – and with today's launch, we are demonstrating our ongoing commitment to playing a critical role in ensuring the sustainability of the healthcare system."
Mental illness is a serious condition indirectly impacting all Canadians through family members, friends or colleagues. The Canadian Mental Health Association estimates that approximately 8 per cent of adults will experience major depression at some time in their lives.i Effective treatments are available; however, stigma and discrimination attached to mental illness plays a role in the fact that almost half (49 per cent) have never seen a doctor about their self-diagnosed depression or anxiety.ii
About Teva Canada Limited
Teva Canada Limited, headquartered in Toronto, has provided affordable healthcare solutions for almost 50 years, with nearly 200,000iii 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 1,400 individuals, markets more than 400iv 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: TEVA) is a leading global pharmaceutical company, committed to increasing access to high-quality healthcare by developing, producing and marketing affordable generic drugs, as well as innovative and specialty pharmaceuticals and active pharmaceutical ingredients. Headquartered in Israel, Teva is the world's leading generic drug maker, with a global product portfolio of more than 1,000 molecules and a direct presence in approximately 60 countries. Teva's Specialty Medicines businesses focus on CNS, respiratory, oncology, pain, and women's health therapeutic areas, as well as biologics. Teva currently employs approximately 45,000 people around the world and reached $20.3 billion in net revenues in 2013.
i Canadian Mental Health Association. Fast Facts about Mental Illness. http://www.cmha.ca/media/fast-facts-about-mental-illness/#.U_varfldW_G. Accessed August 25th, 2014.
iii IMS Compuscript TRx MAT June 2014.
iv IMS CD&H MAT June 2014.
SOURCE: Teva Canada Limited
For further information: PR Contact: Teva Pharmaceutical Industries Ltd., Denise Bradley, Vice-President, Head of Global Corporate Reputation, P. 215.591.8974, F. 215.591.8826, [email protected]