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Zpini
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B.A. in business Management and Finances, more then 15 years of experience in private investments. In the last 2 years my focus of interest is on the Biotech sector and medical devices. My Biotech portoflio consists of compnies traded in the US and in Tel-Aviv (TASE) and some of them are dual... More
  • Teva Ends Its Partnership With Mediwound 0 comments
    Dec 11, 2012 7:38 AM | about stocks: TEVA

    Following Teva's (NYSE: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

    Stocks: TEVA
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