Teva Receives FDA Approval for Schizophrenia Injection, Stock Rises
Translated & summarized from TheMarker by baba
Teva Pharmaceutical Industries announced Friday that the FDA approved its schizophrenia injection, WELTRUZA. The approval supports Teva's strategy of focusing on proprietary drugs. The company forecasts annual sales of 1.5 to 2 billion shekels for the treatment. Teva's stock rose 3% in pre-market trading.
The story in 4 lines · by baba
- The FDA approved Teva's schizophrenia injection, WELTRUZA, on Friday.
- The approval strengthens Teva's strategy of focusing on proprietary drugs.
- The company forecasts annual sales of 1.5 to 2 billion shekels for the treatment.
- Teva's stock rose 3% in pre-market trading following the announcement.
Teva Pharmaceutical Industries announced Friday that the U.S. Food and Drug Administration (FDA) has approved its injectable drug, WELTRUZA (olanzapine), for the treatment of schizophrenia. The approval strengthens Teva's strategy of focusing on its proprietary drugs. The company presented a forecast to investors suggesting that its long-acting injectable schizophrenia treatment for adults could generate annual sales of 1.5 to 2 billion shekels. Teva's stock saw a 3% increase in pre-market trading following the announcement.
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