Israeli Pharma Giant Teva wins FDA approval for monthly schizophrenia injection Weltruza
Weltruza is Teva's second U.S.-approved product made in partnership with French biotech company Medincell. It uses long-acting injectable technology, designed to release medication over an extended period
Teva Pharmaceutical Industries Ltd., an Israeli pharma giant, announced on Friday that the U.S. Food and Drug Administration (FDA) had approved Weltruza, a once-monthly injection for adults with schizophrenia. Weltruza is the second product to receive U.S. approval under Teva's collaboration with French biotech company Medincell, following Uzedy, a long-acting injectable form of antipsychotic drug risperidone, which the FDA approved in 2023. Teva is overseeing the development and commercialization of Weltruza.
The new drug employs Medincell's long-acting injectable technology to release medication over an extended period. This innovation aims to tackle treatment-adherence issues prevalent among patients with chronic psychiatric conditions. Long-acting olanzapine formulations have shown promise in managing schizophrenia, according to analysts. In the agreement, Medincell stands to earn up to $112 million in development and commercial milestone payments, along with royalties on sales.
Teva's shares surged 2 percent higher in Tel Aviv, while Medincell's shares climbed 16.9 percent in Paris following the FDA's approval.
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