Theratechnologies pulls of out Europe, taking ibalizumab with it

Biotech company Theratechnologies, which develops innovative therapies, has announced that it is withdrawing from the European market and will now focus its activities solely in North America. Accordingly, the company will be ceasing the sale of their monoclonal antibody based HIV treatment ibalizumab (trade name Trogarzo) in Europe.

The company stated that the rationale behind their actions was financial, saying that pricing conditions and reimbursement of the drug “did not satisfy Theratechnologies”.

"Although Trogarzo is an important and effective means of treating people living with HIV, further commercial sale of the drug at the proposed prices and conditions of reimbursement by European governments would lead to constant losses for Theratetechnologies," the statement reads.

The company stated that it intends to comply with regulatory obligations towards European patients “for the necessary period of time”.