The share price of Teva Pharmaceutical Industries (TASE: TEVA; NYSE: TEVA) jumped by 4.7% on a larger than usual volume on the New York Stock Exchange on Friday, closing at an annual high of $41.1, which gives the company a market cap of $47.9 billion. In fact, Teva stock was last traded at this price almost a decade ago, in November 2016.
The jump in the share price came after the company announced approval from the US Food and Drug Administration for the sale of Weltruza (olanzapine), which is the first and only treatment for adults with schizophrenia that is administered by subcutaneous injection once a month. "Weltruza clinical trial results demonstrated improvement in symptoms, significant reduction in illness severity, as well as improvement in personal and social functioning," Teva said.
In past presentations of its original drug pipeline, Teva estimated that annual sales of Weltruza would reach $1.5-2 billion at their peak.
"This approval reflects the strength of patient-centric innovation at Teva and what our R&D organization can deliver," said Eric Hughes, executive vice president of Global R&D and Chief Medical Officer at Teva. "Weltruza combines proven science and novel formulation innovation to eliminate the need for monitoring after each injection, addressing a significant barrier to treatment and advancing care for people living with schizophrenia."
Teva is due to release its third quarter results on November 3. Analyst Dennis Ding of investment bank Jefferies expects "another good quarter" and has raised his price target for the stock from $40 to $48, representing a 16.8% premium on the current price in New York. Ding’s recommendation remains "Buy".
Published by Globes, Israel business news - en.globes.co.il - on October 11, 2026.
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