Why Is Teva Stock Trading Higher On Tuesday?

Teva Pharmaceutical Industries Ltd (NYSE:TEVA) and Biolojic Design Ltd announced that Teva initiated IND-enabling studies with BD9, a dual-specific multibody targeting both TSLP (Thymic stromal lymphopoietin) and IL-13.

Teva has an exclusive license to develop BD9 for TH2-driven inflammatory diseases such as atopic dermatitis and asthma. 

By simultaneously blocking two key drivers of TH2-driven inflammation, BD9 can potentially improve outcomes for patients with conditions such as atopic dermatitis and asthma, where current treatments fall short.

Also Read: Teva Shares Climb On Profit Beat, $700 Million Cost Plan, Biopharma Pivot Momentum

The initiation of IND-enabling studies marks a critical milestone in translating this scientific innovation into a potential therapeutic option. It will pave the way for clinical trials and ultimately bring hope to underserved patient populations.

Under the terms of their agreement, Teva is developing BD9 worldwide.

In exchange, Biolojic is eligible to receive milestone payments based on the achievement of certain pre-clinical, clinical, regulatory, and commercial milestones, including the initiation of IND-enabling studies.

In May, the U.S. Food and Drug Administration (FDA) approved Teva and Alvotech's (NASDAQ:ALVO) Selarsdi (ustekinumab-aekn) injection as interchangeable with the reference biologic Johnson & Johnson's (NYSE:JNJ) Stelara (ustekinumab).

In January, The U.S. Food and Drug Administration (FDA) issued a warning regarding the risk of anaphylaxis, a rare but severe allergic reaction associated with glatiramer acetate, a medication used to treat relapsing forms of multiple sclerosis (MS).

Glatiramer acetate, sold under the brand name Copaxone by Teva and as generics like Glatopa, is an injectable medication designed to reduce the frequency of MS relapses.

In February, Axsome Therapeutics, Inc. (NASDAQ:AXSM) signed a settlement agreement with Teva Pharmaceuticals.

The settlement resolves all patent litigation related to Axsome's Auvelity (dextromethorphan HBr – bupropion HCl) product.

Auvelity is approved in the U.S. for major depressive disorder.

The litigation resulted from Teva submitting an Abbreviated New Drug Application to the U.S. Food and Drug Administration (FDA) seeking approval to market a generic version of Auvelity in the U.S. before the expiration of applicable Axsome patents.

Price Action: TEVA stock is up 6.01% at $17.98 at the last check Tuesday.

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