- Teva Pharmaceuticals (NYSE:TEVA -1.2%) has announced the U.S. launch of CANASA (mesalamine) suppository medicine for the treatment of adults with active ulcerative proctitis (ulcerative rectal colitis).
- Mesalamine has an estimated annual sale of $74M in the U.S., the company said citing IQVIA data as of February 2021. Canasa was developed by Aptalis Pharma Canada, an AbbVie company.
- “Teva’s generic mesalamine suppository is an important treatment option for the 1 million people in the U.S. affected with ulcerative colitis,” noted Christine Baeder, chief operating officer of US Generics, Teva USA.
- With a neutral view on Teva, Seeking Alpha contributor Bashar Issa thinks that the company is unlikely to reinstate dividends due to, among other things, its weak financial position.