Teva Receives FDA Approval for Monthly Schizophrenia Injection Weltruza
Teva Pharmaceutical Industries (TEVA) announced it has received U.S. Food and Drug Administration approval for its once-monthly schizophrenia injection, Weltruza. The drug is the second product from Teva's collaboration with French biotech company Medincell following 2023’s FDA-approved antipsychotic medication Uzedy. Weltruza utilizes Medincell’s long-acting injectable technology to release medicine over an extended period, potentially improving treatment adherence for chronic psychiatric conditions. Teva plans to launch the drug in the United States soon and has exclusive rights to its development and commercialization. Under their agreement, Medincell could receive up to $112 million in milestone payments plus royalties on sales. Teva shares rose 2% following the announcement while Medincell’s stock was suspended ahead of the news release.
Tickers: $TEVA
Topics: long-acting injectables mental health pharmaceuticals