Teva & Lundbeck Announce Phase III Trials Did Not Demonstrate Etilevodopa Superiority Over Standard Levodopa

Jerusalem, Israel, January 6, 2003 - Teva Pharmaceutical Industries Limited (NASDAQ: TEVA) and H. Lundbeck A/S (CSE: LUN.CO) announced today the results of two phase III clinical studies with an immediate release formulation of etilevodopa, a soluble prodrug of levodopa, in advanced Parkinson's Disease (PD) patients. Etilevodopa was found to be well tolerated and as effective as levodopa. On the primary endpoint, shortened the time to clinical effect, etilevodopa did not demonstrate statistically significant superiority over standard levodopa. The studies - RAPID, conducted in North America, and RONDO, conducted in the EU - included over 700 advanced Parkinson's disease patients with motor fluctuations, who were treated for four months with either etilevodopa/carbidopa or continued treatment with standard levodopa/carbidopa. Israel Makov, President and CEO of Teva said: "The results with etilevodopa are disappointing, however, Teva and Lundbeck will continue their joint research program in the field of Parkinson's Disease and we look forward to the successful completion of the clinical development of rasagiline in the next few months". Teva Pharmaceutical Industries Ltd., headquartered in Israel, is among the top 35 pharmaceutical companies in the world. More than 80 percent of Teva's sales are in North America and Europe. The company develops, manufacturers and markets generic and branded human pharmaceuticals and active pharmaceutical ingredients. Teva's innovative R&D focuses on developing novel drugs for diseases of the central nervous system. H. Lundbeck A/S is an international pharmaceutical company engaged in the research and development, production, marketing and sale of drugs for the treatment of psychiatric and neurological disorders. In 2001, the Company's revenue was DKK 7.7 billion. 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