Teva Pharmaceutical Industries (TEVA) shares increased after the Food and Drug Administration (FDA) approved the company’s new drug distribution plan.
The FDA approved Teva’s plan to distribute its multiple sclerosis drug Copaxone in a new way. The new drug dose plan allows for patients to take 40 mg doses of Copaxone three times a week. Previously, the only dose for the drug was 20 mg and it had to be taken daily, reports Reuters.
Teva plans to move around 30,000, 35% of patients, to the thrice-weekly version of Copaxone by June. The company also plans to move 57% of patients to the new dosage by the end of the year, Reuters notes.
The new version of Copaxone will have patent protection until 2030 and is available for shipping straightaway. This new drug dose may help the company keep patients when generic versions of the once-a-day dose start appearing later this year, reports Businessweek.
TEVA stock was up 2% as of Wednesday morning.