Teva Pharmaceuticals International GmbH, a subsidiary of Teva Pharmaceutical Industries Ltd. (NYSE: TEVA) today announced it has made a bid to acquire an innovative neuroscience product from BioXcel Therapeutics, Inc. through a court-supervised sale process.
The novel dexmedetomidine sublingual film is under U.S. Food and Drug Administration (FDA) review for potential at-home use for the acute treatment of agitation associated with schizophrenia or bipolar I or II disorder in adults. If approved, it could become the first FDA-approved at-home treatment for this condition. If the transaction is completed, the asset would expand Teva’s psychiatry portfolio and, pending FDA approval, could help address a meaningful unmet need for people living with complex mental health conditions.
“Business development plays a critical role in accelerating our Pivot to Growth strategy,” said Evan Lippman, Executive Vice President, Business Development at Teva. “This opportunity strengthens our neuroscience portfolio and reflects our disciplined approach to pursuing innovative assets with a clear strategic fit, the potential to make a meaningful difference for patients and attractive long-term growth potential, while balancing risk and value creation."
For people living with schizophrenia or bipolar I or II disorder, agitation episodes can be unpredictable, disruptive, and distressing for patients, families, and caregivers. In some cases, these episodes may lead to escalation of care, including emergency department visits or hospitalization. Despite this burden, acute treatment options specifically designed for agitation remain limited, particularly options that may be used outside healthcare and hospital settings.
TEVA shares parted ways with 51 cents, or 1.4%. to $37.09.
