Teva Announces Prescription Copay Savings Program for Generic Gleevec® Tablets in the United States
People who meet certain requirements are eligible to participate and may pay as little as $0 out-of-pocket
Teva Pharmaceuticals USA, a subsidiary of Teva Pharmaceutical Industries Ltd., (NYSE and TASE: TEVA) today announced the launch of a prescription copay assistance program in the U.S. for the Company's generic equivalent to Gleevec®1 (imatinib mesylate) tablets. Teva launched imatinib mesylate tablets in the U.S. earlier this year.
People who meet certain requirements are eligible to participate in the program and may pay as little as $0 out-of-pocket with a maximum benefit of up to $700 per fill. The program applies to eligible patients who are commercially insured. Savings are limited to copay amount and eligibility restrictions, terms and conditions apply.
In compliance with applicable laws and regulations, the program is not available to patients who are covered under Medicaid, Medicare, a Medicare Part D or Medicare Advantage plan (regardless of whether a specific prescription is covered), TRICARE, CHAMPUS, Government Health Insurance Plan ("Healthcare Reform"), or any other state or federal medical or pharmaceutical benefit program or pharmaceutical assistance program.
“This effort further reinforces Teva’s long-standing commitment to providing access to our medicines," said Andy Boyer, President & CEO, Global Generic Medicines, North America at Teva. "Given today's economic climate, programs that help alleviate the high copay costs that many patients face are increasingly important."
Eligible patients can enroll in the program and receive additional information about copay assistance by visiting www.TevaImatinibSavings.com.
Teva remains committed to strengthening its generics business with continued investment in new and diverse, high quality products. With nearly 600 generic medicines available, Teva has the largest portfolio of FDA-approved generic products on the market and holds the leading position in first-to-file opportunities, with over 100 pending first-to-files in the U.S. Currently, one in seven generic prescriptions dispensed in the U.S. is filled with a Teva generic product.
Teva Pharmaceuticals USA, Inc., a wholly-owned subsidiary of Israeli-based Teva Pharmaceutical Industries Ltd., the global leader in generics and one of the leading pharmaceutical companies in the world. Teva's extensive U.S. operations are headquartered near Philadelphia, PA. Teva Generics leverages its portfolio of more than 1,800 molecules to produce a wide range of generic products in nearly every therapeutic area. For more information, visit www.tevausa.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 , which are based on management’s current beliefs and expectations and are subject to substantial risks and uncertainties, both known and unknown, that could cause our future results, performance or achievements to differ significantly from that expressed or implied by such forward-looking statements. Important factors that could cause or contribute to such differences include risks relating to:
- commercial success of Teva's generic version of imatinib mesylate;
- our generics medicines business, including: that we are substantially more dependent on this business, with its significant attendant risks, following our acquisition of Allergan plc’s worldwide generic pharmaceuticals business (“Actavis Generics”); our ability to realize the anticipated benefits of the acquisition (and any delay in realizing those benefits) or difficulties in integrating Actavis Generics; the increase in the number of competitors targeting generic opportunities and seeking U.S. market exclusivity for generic versions of significant products; price erosion relating to our generic products, both from competing products and as a result of increased governmental pricing pressures; and our ability to take advantage of high-value biosimilar opportunities;
- our business and operations in general, including: uncertainties relating to our recent senior management changes; our ability to develop and commercialize additional pharmaceutical products; manufacturing or quality control problems, which may damage our reputation for quality production and require costly remediation; interruptions in our supply chain; disruptions of our or third party information technology systems or breaches of our data security; the failure to recruit or retain key personnel, including those who joined us as part of the Actavis Generics acquisition; the restructuring of our manufacturing network, including potential related labor unrest; the impact of continuing consolidation of our distributors and customers; variations in patent laws that may adversely affect our ability to manufacture our products; adverse effects of political or economic instability, major hostilities or terrorism on our significant worldwide operations; and our ability to successfully bid for suitable acquisition targets or licensing opportunities, or to consummate and integrate acquisitions; and
- compliance, regulatory and litigation matters, including: costs and delays resulting from the extensive governmental regulation to which we are subject; the effects of reforms in healthcare regulation and reductions in pharmaceutical pricing, reimbursement and coverage; potential additional adverse consequences following our resolution with the U.S. government of our FCPA investigation; governmental investigations into sales and marketing practices; potential liability for sales of generic products prior to a final resolution of outstanding patent litigation; product liability claims; increased government scrutiny of our patent settlement agreements; failure to comply with complex Medicare and Medicaid reporting and payment obligations; and environmental risks.
and other factors discussed in our Annual Report on Form 20-F for the year ended December 31, 2016 (“Annual Report”) and in our other filings with the U.S. Securities and Exchange Commission (the “SEC”). Forward-looking statements speak only as of the date on which they are made, and we assume no obligation to update or revise any forward-looking statements or other information contained herein, whether as a result of new information, future events or otherwise. You are cautioned not to rely on these forward-looking statements. You are advised to consult any additional disclosures we make in our reports to the SEC on Form 6-K, as well as the cautionary discussion of risks and uncertainties under “Risk Factors” in our Annual Report. These are factors that we believe could cause our actual results to differ materially from expected results. Other factors besides those listed could also materially and adversely affect us. This discussion is provided as permitted by the Private Securities Litigation Reform Act of 1995.
1 GLEEVEC® is a registered trademark of Novartis Oncology.
Teva Pharmaceuticals USA, Inc.
Denise Bradley, 215-591-8974
Elizabeth DeLuca, 484-612-5407