Teva Pharmaceutical Shares Surge Over 15% as Duvakitug Meets Primary Endpoint in Ulcerative Colitis and Crohn’s Disease Trial

Intelligent Finance APP learned on Tuesday that the share price of Teva Pharmaceutical Industries (TEVA.US) rose. As of press time, the stock surged over 15%, trading at $19.135. In terms of news, the company and French pharmaceutical manufacturer Sanofi (SNY.US) stated that a study on the ulcerative colitis and Crohn's disease drug Duvakitug showed that the drug had achieved its primary goal. Last year, the two companies announced their collaboration to develop a treatment for inflammatory bowel disease (IBD), hoping the drug would become a blockbuster with annual sales reaching at least $1 billion.