Shares of Teva Pharmaceutical Industries, the Israeli pharmaceutical giant, have soared more than 20% in the last period.
The upward trend in the stock market came after the announcement of positive results in the phase 2 clinical trial of its new drug, Duvakitug, a monoclonal antibody that works as an innovative treatment for inflammatory bowel diseases (IBD), such as ulcerative colitis and Crohn's disease.
Developed in collaboration with French pharmaceutical company Sanofi, the new drug demonstrated significant clinical remission rates in patients with ulcerative colitis and Crohn's disease. The results even exceeded initial expectations, reaching unprecedented clinical remission rates in patients with moderate to severe IBD.
Teva Chief Medical Officer Eric Hughes said the “results reinforce Teva’s ability to develop and deliver access to innovative medicines.”
After the 14-week trial, it was found that in patients with ulcerative colitis, 36.2% who received a low dose and 47.8% with a high dose achieved clinical remission, and in patients with Crohn's disease, 26.1% with a low dose and 47.8% with a high dose showed improvement in symptoms.