By Dean Seal
Teva Pharmaceuticals and Sanofi report that the latest trial of their jointly developed treatment for inflammatory bowel disease met its primary endpoints.
The companies said Tuesday that patients with ulcerative colitis who were treated with duvakitug achieved a higher rate of clinical remission compared with a placebo group. A group of patients with Crohn's disease who were treated with duvakitug achieved a higher rate of remission than those treated with a placebo.
The treatment effect was consistent across subgroups, the companies said.
Teva's shares surged 18% to $19.53 in premarket trading. Sanofi's American depositary receipts were up 3.7% at $47.57.
Duvakitug was generally well tolerated across both patient groups and showed similar rates of treatment-emergent adverse events.
Teva Chief Medical Officer Eric Hughes said the results exceeded expectations.
"I am deeply moved by the potential for duvakitug to help treat and meaningfully improve the quality of life of people living with IBD," Hughes said.
The companies are working together on the next phase of development.
Teva and Sanofi said in November 2023 that they had closed a collaboration deal to co-develop and co-commercialize duvakitug. The companies will equally share the global development costs and net profits and losses in major markets, while other markets are subject to a royalty arrangement.
Sanofi agreed to lead the development of the Phase 3 program. Teva is leading commercialization of the product in Europe, Israel and specified other countries, while Sanofi will lead commercialization in North America, Japan, other parts of Asia and the rest of the world.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
December 17, 2024 08:30 ET (13:30 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
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