Both stocks were rising on the news, with Teva up 26%.) stocks were rising on Tuesday after the companies announced successful results of a phase 2 study involving the treatment of patients with ulcerative colitis and Crohn’s disease .
Also, 26.1% of low-dose patients and 47.8% of high-dose patients with CD treated with duvakitug achieved endoscopic response compared to 13.0% on placebo.“The results from the RELIEVE UCCD study have exceeded our expectations, and I am deeply moved by the potential for duvakitug to help treat and meaningfully improve the quality of life of people living with IBD,” Eric Hughes, MD, PhD, head of global R&D and chief medical officer at Teva, said.
Specifically, Austedo saw a 28% increase in revenue to $435 million in the quarter, while Ajovy revenue increased 21% to $137 million. Its generics business saw 30% revenue growth in the U.S., 8% in Europe, and 13% in international markets in Q3. The third quarter results enabled Teva to boost its revenue outlook for fiscal 2024.
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