Gephardt Group is working Washington for Israel’s Teva Pharmaceuticals, the globe’s No. 1 producer of generic drugs.
The firm of former House majority leader and presidential hopeful Dick Gephardt handles the U.S. unit (North Wales, PA) of Teva as it tackles Food & Drug Administration/healthcare policies and international trade agreements.
Teva earned a major court victory on Jan. 14 as a federal judge ruled that it did not infringe on patents related to the painkiller OxyContin, which is marketed by Purdue Pharma.
Its executives on the same day told a financial analyst session that the company expects to win U.S. regulatory approval for a new less-frequent dosing of its multiple sclerosis drug Copaxone, which accounts for about 20 percent of overall sales and half of its profit.
That news sparked a nearly seven percent jump in Teva's stock price.
The former Congressman leads Team Teva, which includes Tom O'Donnell (Gephardt's former chief of staff), Robert Epplin (ex-legislative director to Sen. Susan Collins) and Michael Messmer (ex-staffer at the House Democratic Policy Committee).