Teva Pharmaceutical Industries Limited (TEVA) stock was up slowly by 14% over the past six months. But today, the company announced it has received EU Marketing Authorisation for Seffalair Spiromax and its duplicate BroPair Spiromax. So, can this news push its stock to rise sharply?
Source: Teva Pharmaceutical website
Seffalair Spiromax and BroPair Spiromax are indicated as a regular treatment for asthma in adults and adolescents aged 12 years and older not adequately controlled with inhaled corticosteroids and ‘as needed’ inhaled short-acting β2 agonists.
The company is planning to launch its drugs in Portugal, Switzerland, Spain and the UK. The company said that there are an estimated 28 million asthma patients in the European Union.
Raymond James analyst Elliot Wilbur gave a buy rating on the stock three days ago but did not assign any price target.
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