Teva Pharmaceutical Up on FDA OK

U.S. regulators approve the Israeli drugmaker's generic version of a top antibiotic drug.
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Teva Pharmaceutical

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gained Tuesday after the Israeli-based company said U.S. regulators have approved its generic version of

GlaxoSmithKline's

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successful antibiotic Augmentin.

Teva said the treatment, approved by the Food and Drug Administration, combines amoxicillin and clavulanate potassium in creating a broad spectrum antibiotic.

The company has yet to set a launch date.

Though Israeli-based, about 90% of Teva's sales are in North America and Europe.

Teva shares rose $1.38, or 2.1%, to $66.87.

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