Teva Pharmaceutical Industries Ltd. said Thursday its developing oral treatment for multiple sclerosis will receive a special "Fast Track" review from the Food and Drug Administration.
Israel-based Teva and Swedish partner Active Biotech are developing oral laquinimod as a treatment for multiple sclerosis, a neurological condition where patients suffer a range of symptoms from fatigue to problems with vision, speech, coordination, and the bladder. The FDA's "Fast Track" designation expedites the review process for the drug, which is now in late-stage development.
The designation is given to treatments being developed for serious and life-threatening conditions for which there is a lack of therapy. Teva said the FDA designation could allow the drug to reach the market in 2011.
Shares of Teva rose 73 cents to $43.86 in afternoon trading. Active Biotech's stock is traded over-the-counter.