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Teva teams up with Nuvelution Pharma to accelerate development of Austedo for Tourette syndrome; shares up 1%

  • Teva Pharmaceutical Industries (TEVA +0.7%) inks an agreement with privately held Nuvelution Pharma aimed at accelerating development of AUSTEDO (deutetrabenazine) for the treatment of a movement disorder called Tourette syndrome.
  • Under the terms of the agreement, Nuvelution will fund and manage clinical development while Teva will be responsible for the regulatory process and commercialization. Upon FDA approval, Teva will pay Nuvelution a pre-agreed return on its invested capital. A Phase 3 study should start in Q4.
  • AUSTEDO is currently approved in the U.S. for tardive dyskinesia and chorea associated with Huntington's disease.

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