Teva Just Delivered More Good News on Its Biggest Growth Driver. Is the Stock Still a Bargain?
Teva has been building its comeback, and the latest studies on Austedo and Austedo XR will help further that momentum.
Overview
Teva Pharmaceuticals (NYSE: TEVA) is morphing from a generic drug maker into one that develops more innovative -- and profitable -- drugs. The stock is up more than 10% this year, and more than 95% over the past year.
On June 8, the company released data regarding its therapies, Austedo and Austedo XR (extended relief), at the Psych Congress Elevate. The three-year study showed that while more than 50% of tardive dyskinesia patients saw symptom improvement in controlling involuntary movements within 15 weeks, an additional 23% achieved success with long-term treatment.
This means that Austedo XR may be able to expand beyond its approved use to treat the involuntary movements (chorea) of Huntington's disease. The company also released a study on June 5 showing that 60% to 71% of Huntington's disease chorea patients experienced improvement with Austedo or Austedo XR.
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Originally published at www.fool.com.