Teva Pharmaceutical Up on FDA OK
U.S. regulators approve the Israeli drugmaker's generic version of a top antibiotic drug.
Shares in
Teva Pharmaceutical
(TEVA) - Get Teva Pharmaceutical Industries Ltd. Report
gained Tuesday after the Israeli-based company said U.S. regulators have approved its generic version of
GlaxoSmithKline's
(GSK) - Get GlaxoSmithKline Plc Report
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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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