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Warren Buffett
Protalix Soars on FDA Approval of Gaucher Drug: Tel Aviv Mover
[ame=http://www.youtube.com/watch?v=IxAKFlpdcfc]Applause - YouTube[/ame]
If you go to the Middle East looking for oil, you don't need to stop in Israel. But, if you're looking for brains, for energy, for integrity, for imagination, it's the only stop you need to make"
Warren Buffet on Israel - YouTube
Protalix Soars on FDA Approval of Gaucher Drug: Tel Aviv Mover
Protalix BioTherapeutics Inc. soared in Tel Aviv trading after the biopharmaceutical companys first product won approval from the U.S. Food and Drug Administration.
The company developed the drug, Elelyso, with Pfizer Inc. (PFE) to treat the most common form of Gaucher disease, a rare genetic disorder.
Elelyso will compete with Sanofi (SAN)s Cerezyme and Shire Plcs Vpriv. Type 1 Gaucher, which can lead to spleen and liver enlargement, affects about 6,000 people in the U.S. Pfizer and Protalix will price Elelyso 25 percent less than Cerezyme, the companies said in a statement late yesterday. The approval may help Protalix cement agreements with drugmakers for its medicines in development, Chief Executive Officer David Aviezer said.
This is a validation of our technology, Aviezer said in an interview in Tel Aviv. The approval could be a harbinger for additional agreements with other companies for some of our other drugs in the near future.
Pfizer, the worlds largest drugmaker, paid Protalix $60 million for an exclusive agreement to sell the drug globally except for in Israel, according to the companys annual report. Pfizer also agreed to pay Protalix $55 million for meeting certain regulatory requirements. The U.S. company will get 60 percent of Elelyso sales while Protalix will keep 40 percent.
Protalix Soars on FDA Approval of Gaucher Drug: Tel Aviv Mover - Bloomberg
[ame=http://www.youtube.com/watch?v=IxAKFlpdcfc]Applause - YouTube[/ame]