Investors in the pharma/biotech sector eagerly wait for pipeline updates as they play an important role in deciding whether or not to invest in a particular company. These updates provide information on experimental drugs and at times give an insight into the commercial potential of the candidate once it is successfully developed and commercialized.
Last week, Teva Pharmaceutical Industries Ltd. (TEVA) announced that an additional administration option for Granix injection has been approved by the FDA. The FDA has approved Granix for self-administration by patients and caregivers.
Teva plans to launch a new Granix syringe for self-administration in early 2015. The currently available Granix syringe is indicated only for administration by a health care professional.
Granix is approved for the reduction in the duration of severe neutropenia in patients with nonmyeloid malignancies receiving myelosuppressive anticancer drugs associated with a clinically significant incidence of febrile neutropenia.
Our Take
We are pleased with the FDA approving Granix injection for self-administration by patients and caregivers. It will provide a convenient option for patients who have an issue with visiting physicians multiple times.
Other approved neutropenia drugs include Amgen Inc.’s (AMGN) Neupogen indicated for the reduction of the risk of infection in patients with tumors, who are receiving strong chemotherapy that may cause severe neutropenia with fever.
Teva currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the health care sector include Allergan (AGN) and Actavis (ACT), both carrying a Zacks Rank #2 (Buy).
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