Teva Pharmaceutical Industries Ltd. said Monday it altered the terms of a partnership on a potential multiple sclerosis drug, and now has the right to market the product in the Nordic and Baltic regions.
Since 2004, Teva has worked with Active Biotech of Sweden to develop laquinimod, an oral treatment for multiple sclerosis. Teva said it agreed to pay greater royalties to Active in those regions compared to what Active will get from sales in other parts of the world.
The Food and Drug Administration agreed to conduct an expedited review on laquinimod a year ago, and Teva said the drug could reach the U.S. market by late 2011.
Shares of the Israeli company rose 29 cents to $57.05.