|
 Teva, which won U.S. approval in January to make an inhaler similar
to Advair, also launched a generic version of its own inhaler,
AirDuo RespiClick.
AirDuo is not a true generic of Advair, but contains the same two
active ingredients, fluticasone propionate and salmeterol. However,
it delivers a lower dose of salmeterol and uses Teva's RespiClick
inhaler rather than copying GSK's device.
"We imagine that there should be sufficient time window for AirDuo
to be the sole competing product to Advair," Raymond James analyst
Elliot Wilbur said in a client note.
Advair, which brought in 1.83 billion pounds ($2.35 billion) in 2016
sales, is also widely used to treat chronic obstructive pulmonary
disease, while AirDuo is only approved for asthma and is not
directly substitutable.
"Neither branded AirDuo, nor its authorized generic are
therapeutically equivalent or substitutable for Advair," GSK's
spokeswoman Sarah Alspach told Reuters.
Still, Teva's product is likely to grab some share of the asthma
market. AirDuo could capture 25 percent of the market by 2018,
Wilbur said.
However, the bigger threat to GSK will likely come from fully
substitutable generic copies of Advair that are still awaiting
approval.
Hikma Pharmaceuticals Plc and Vectura Group Plc are expecting
approval for their generic versions by May 10. Mylan NV's generic
was rejected in March.
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GSK has been preparing for the loss of Advair's exclusivity for the
past two years. But the potential launch of generics will still be a
blow since the medicine is highly profitable and has sold more than
$1 billion annually since 2001.
Teva's AirDuo will cost wholesalers or direct purchasers $285, while
the generic version will cost $90, Michelle Larkin, a spokeswoman
for the Israeli drugmaker, told Reuters.
The pricing of the branded drug was in line with that of its peers,
Bernstein analyst Erica Kazlow said.
"Teva's willingness to use generic strategy for the product is
encouraging as it relates to the company's willingness to look at a
tough reality and take appropriate action," Kazlow said.
(Reporting by Divya Grover in Bengaluru; Editing by Saumyadeb
Chakrabarty and Savio D'Souza)
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