Teva Wins FDA Approval for Monthly Schizophrenia Injection
TEVA has more than doubled off its 52-week low of $18.825.
Summary
Teva received FDA approval for a monthly olanzapine injection to treat schizophrenia. This is a new product approval in the company's innovative medicines portfolio, which has been a growth driver—Q2 innovative brands revenue surged 43% to over $1 billion. The approval adds a differentiated long-acting injectable option in a large psychiatric market. No sales figures or launch timeline were disclosed. The stock is trading near its 52-week high, suggesting the market may have partially anticipated this outcome.
At the time of this announcement, TEVA was trading at $41.62 on NYSE in the Life Sciences sector, with a market capitalization of approximately $48.5B. The 52-week trading range was $18.83 to $42.02. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Seeking Alpha.