Teva Pharmaceutical Shares Rise

Teva Pharmaceutical Industries said it launched generic Glumetza 500 mg and 1000 mg – metformin hydrochloride extended-release tablets – in the U.S. The company’s American Depositary Rights (ADRs) climbed less than 1% intraday.

The tablets are used with diet and exercise to help control high blood sugar in adults with type 2 diabetes mellitus, the company said in a statement. Metformin hydrochloride extended-release tablets are not for people with type 1 diabetes or for people with diabetic ketoacidosis. Teva claimed it has the largest portfolio of FDA-approved generic products on the market and holds the “leading position in first-to-file opportunities,” with over 100 pending first-to-files in the U.S.

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