Teva will doubtless be pleased with the reaction to its latest first-quarter results. In the days that followed the firm’s 8 May announcement of its Q1 2024 financials – coupled with a simultaneous disclosure of positive trial data, ahead of schedule, for its TEV-’749 long-acting injectable olanzapine candidate developed with partner MedinCell – the firm’s share price jumped by around 15% to more than $16 per share.
Analyst interest was focused on the olanzapine results, with Teva president and CEO Richard Francis explaining: “we had the data readout on the efficacy of this [SOLARIS Phase III pivotal] study, and it met its primary and secondary endpoints on all dose groups versus placebo
Key takeaways:
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Teva has released earlier-than-expected positive trial results for its MedinCell-partnered TEV-’749 olanzapine long-acting injectable.
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Meanwhile, the firm’s Uzedy long-acting injectable risperidone is on track to hit sales estimates of $80m this year.
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Teva’s generics business grew by 9% in Q1, including 8% growth in the US
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