Teva Pharmaceuticals (TEVA) Shares Surge Over 15% on Positive Drug Study Results

Dec 17, 2024

Teva Pharmaceuticals (TEVA, Financial) saw its stock price rise by more than 15%, reaching $19.135. The increase followed an announcement that a study on their drug Duvakitug, developed with French pharmaceutical company Sanofi (SNY), met its primary goals. The drug targets ulcerative colitis and Crohn's disease. Last year, the two companies announced their collaboration to develop treatments for inflammatory bowel disease (IBD), with hopes that the drug could achieve blockbuster status, generating at least $1 billion in annual sales.

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