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March 20, 2020, 7:47 a.m. EDT

Teva to donate 6 million doses of hydroxychloroquine, floated as a potential treatment for COVID-19

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By Jaimy Lee

Shares of Teva Pharmaceutical Industries Ltd. /zigman2/quotes/205657894/composite TEVA -1.26% gained 13% in premarket trading on Friday following a Thursday night announcement that the drugmaker will donate more than 6 million doses of hydroxychloroquine sulfate tablets in the U.S. this month. Chloroquine, a longtime malaria drug that is sometimes used as a treatment for rheumatoid arthritis, is being floated as a potential treatment for people sickened by the novel coronavirus by the Trump administration. Teva said in a news release that the drug, which has not received Food and Drug Administration approval as a treatment for COVID-19, has been requested by government officials in efforts to treat the disease. Bayer AG /zigman2/quotes/203424967/delayed BAYRY +1.08% and Mylan /zigman2/quotes/209413137/composite MYL +1.71% have also said they will produce chloroquine therapies as a result of the COVID-19 pandemic. Teva's stock is down 29.9% year-to-date, while the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.80% has dropped 25.4%.

/zigman2/quotes/205657894/composite
US : U.S.: NYSE
$ 11.72
-0.15 -1.26%
Volume: 5.96M
Aug. 11, 2020 4:00p
P/E Ratio
3,552
Dividend Yield
N/A
Market Cap
$13.04 billion
Rev. per Employee
$441,818
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/zigman2/quotes/203424967/delayed
US : U.S.: OTC
$ 16.80
+0.18 +1.08%
Volume: 408,548
Aug. 11, 2020 3:59p
P/E Ratio
N/A
Dividend Yield
3.16%
Market Cap
$65.40 billion
Rev. per Employee
$399,166
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/zigman2/quotes/209413137/composite
US : U.S.: Nasdaq
$ 16.64
+0.28 +1.71%
Volume: 5.81M
Aug. 11, 2020 4:00p
P/E Ratio
31.77
Dividend Yield
N/A
Market Cap
$8.46 billion
Rev. per Employee
$326,506
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/zigman2/quotes/210599714/realtime
US : S&P US
3,333.69
-26.78 -0.80%
Volume: 2.90B
Aug. 11, 2020 5:08p
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