(CercleFinance.com) – MedinCell stock rose on the Paris Stock Exchange on Thursday following the announcement by its partner Teva of the successful launch in the United States of a treatment for schizophrenia based on its technology.
The drug, approved by the FDA in April, has been distributed since May in the United States by Teva under the trade name Uzedy and Teva is already very satisfied with the feedback received from healthcare professionals.
“We are also seeing that hospitals are asking to receive samples and to do free tests,” said Richard Francis, CEO of the Israeli laboratory.
Teva says it also has fruitful discussions with its payers, ie public and private insurers.
With these positive returns, the group estimates that it has already taken 40% of the long-acting risperidone market, a market estimated at four billion dollars.
For the record, MedinCell is eligible for the collection of commercial milestone payments of up to $105 million and royalties on net sales of the product.
Teva and MedinCell are also collaborating on olanzapine as part of a phase 3 clinical study started in January 2023, with the aim of offering a molecule in addition to Uzedy for patients with severe schizophrenia.
After jumping 8% this morning, the MedinCell title slowed down and only progressed by 1% at one hour from the close of the Paris Stock Exchange.
Copyright © 2023 CercleFinance.com. All rights reserved.
Did you like this article ? Share it with your friends with the buttons below.
