Teva stock jumps on Q1 earnings, successful trial results

Teva Pharmaceutical (TEVA) stock is trading higher on Wednesday, following the company's beat in its first quarter earnings report. Contributing further to the rally, Teva unveiled encouraging results from a clinical study evaluating its Schizophrenia treatment, Olanzapine, driving shares higher.

Yahoo Finance's health reporter Anjalee Khemlani breaks down the details.

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This post was written by Angel Smith

Video Transcript

Let's talk about Teva as well.Those shares are trending and the stock is surging today after the pharmaceutical maker unveiled positive results from its schizophrenia treatment study for more, we're bringing in Yahoo finances and came on so numbers.And also this study, yes, so a lot going on for we know that, of course, the stock has been one that's been under pressure for quite some time because of the opioid settlements, and they are finally looking like they're coming out under that reporting at 3.8 billion in revenues for the quarter, up 5% year over year.And that's a really good sign.In addition to that, uh, they're looking at the results of their schizophrenia drug olanzapine.That is, uh, could be a $1 billion product for the company.Uh, it is.It would be a long acting injectable once monthly compared to the current pill form that is on the market.And so is looking at, you know, being able to provide a product that's easier for patients to use.And so that is what the company is looking at.Currently, the account for 19 or the product accounts for 19% of the US market for the drug.So it's good market potential market for the company there.Meanwhile, the company is also looking at launching their Humira biosimilar.So they're gonna be in the same market as the what is it now?Half dozen that are on the market, uh, competing with Abby.We've already talked on this show before about how Abby has managed to maintain the market share when it comes to Humira.But we are seeing that other companies have been able to gain just a little bit of that share and looking like is looking to play in that market as you see on your screen.That is the market share of Humira right now, whether or not the way that the formularies those pharmacy benefits managers handle how these biosimilars are sold to patients or rather to the to the pharmacies will determine whether or not, uh to a can also break through and get some of that market share.All right, Thank you.Appreciate it.