Following Teva's (NASDAQ:TEVA) decision to focus on certain areas of development, it announced today to Clal Biotech (Israeli traded company CBI 629014) that curing wounds is no longer a field where it wishes to participate. Hence, Teva will end it's cooperation agreement with Clal's subsidiary Mediwound.
This comes as a big surprise to Clal Biotech investors as Mediwound has already received this September a FDA approval for its NixoBrid - a drug for treatment of level 3 burns. It is a unique gel treatment based on enzymes from pineapple cells for a rapid healing.
Adding this to the sale of its 30% stake in Proteologics (Israeli traded company PRTL 1118116) a couple of weeks ago and the question is where does Teva heading in it's growth plans?
Disclosure: I am long TEVA.
Additional disclosure: I am long Clal Biotech and Proteologics