Teva wins FDA approval for WELTRUZA

Oppenheimer raised its price target for Teva Pharmaceutical Industries to $52 from $50, maintaining an Outperform rating. The company's stock is currently trading at $41.69, up 6.22% over 5 days and 5.53% year-to-date. The adjustments are based on various composite ratings including valuation, EPS revisions, and visibility.

Teva Pharmaceutical (NYSE: TEVA) received FDA approval for WELTRUZA, a monthly schizophrenia injectable. The drug will be priced at $2,950 and launched using the existing UZEDY sales infrastructure. Teva expects initial uptake from oral olanzapine users and aims for 85% payer coverage within a year. The company forecasts combined revenue of $1.5B-$2B for UZEDY and WELTRUZA, with meaningful WELTRUZA revenue expected in the second half of the following year.

Teva Pharmaceutical Industries (TEVA) received FDA approval for Weltruza, a monthly injectable antipsychotic for schizophrenia. The drug, containing olanzapine, will be available in three doses. According to the company, this approval expands its mental health treatment portfolio.

Teva Pharmaceutical (TEVA) shares rose 5.9% today, driven by FDA approval for DEGEVMA, a biosimilar to Xgeva, and a new Buy rating with a $55 price target. The company expanded its denosumab portfolio and completed its transition to ordinary shares on the NYSE. Insider sales and hedge fund activity were also noted.

Teva Pharmaceuticals' shares increased 6% to $41.56 after the FDA approved Weltruza, an extended-release injectable for schizophrenia. The company reported positive clinical trial results, with Weltruza showing symptom improvement and reduced illness severity. It will be available in three strengths in the U.S. in the coming weeks.

Teva Pharmaceuticals' stock rose after the FDA approved Weltruza, a once-monthly injectable schizophrenia treatment. The drug is the first of its kind, requiring no loading doses. Teva's shares are up 26% year-to-date.