Teva Pharmaceutical Industries Ltd. (TEVA Quick QuoteTEVA - Free Report) announced that Cinqaero (reslizumab), which is under review for use as an add-on therapy in adult patients with severe eosinophilic asthma inadequately controlled despite high-dose inhaled corticosteroids plus another medicinal product for maintenance treatment, got a positive opinion from the European Medicines Agency’s (EMA) Committee for Medicinal Products for Human Use (CHMP).

We note that Cinqaero gained FDA approval in late Mar 2016 where it was launched under the trade name Cinqair. With the CHMP issuing a positive opinion, we believe the candidate will gain EU approval, potentially in the second half of the year.

Teva has several programs ranging from phase I to registration stage in its pipeline with many of these focused on the central nervous system (CNS) and respiratory fields. As far as other therapeutic areas like women’s health and oncology are concerned, Teva is focusing on market-ready products or late-stage candidates to maximize sustainable profitability.

Meanwhile, Teva is looking to strengthen its generics business and is set to acquire Allergan plc’s generics business for $40.5 billion. Once this deal closes, potentially by the end of this month, Teva will expand its presence as well as portfolio significantly.

Teva is a Zacks Rank #3 (Hold) stock. A couple of better-ranked stocks in the medical sector include Pfizer, Inc. (PFE Quick QuotePFE - Free Report) and Amphastar Pharmaceuticals, Inc. (AMPH Quick QuoteAMPH - Free Report) , both Zacks Rank #1 (Strong Buy) stocks.

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