April 3 Israel-based Teva Pharmaceutical
Industries Ltd said the U.S. Food and Drug
Administration had approved its drug to treat chorea stemming
from Huntington's disease, a fatal degenerative disorder.
Chorea is an abnormal, involuntary writhing movements
disorder that occur in 90 percent of Huntington's disease
patients at some point in the course of their illness.
The company said on Monday that the FDA approval was based
on results from a late-stage study of the drug, Austedo, in
reducing chorea in patients with Huntington's disease.
Huntington's disease is an inherited condition that causes
the progressive breakdown of nerve cells in the brain, resulting
in a gradual decline in motor control, cognition and mental
Analysts forecast annual sales reaching $850 million by 2023
for Teva's Austedo, according to Thomson Reuters data.
Teva, the world's largest generic drugmaker, said on May 31
that approval for the drug had been held up by U.S. regulators
seeking further blood study.
The company's stock was up 1.2 percent at $32.59 in U.S.
extended trading on Monday.
(Reporting by Akankshita Mukhopadhyay in Bengaluru; Editing by