Teva Pharmaceutical (NASDAQ: TEVA) was up 2.9% in the last trading day amid news that a more concentrated version of its patented Copaxone drug would not be approved by the FDA. Copaxone is Teva's biggest product and fears of a generic version has caused the stock to stumble from the mid 60's. An extrapolation from the rejected version of its drug could mean that it would make it more difficult for other generic drugs to enter the market. This comes as great news for Teva and a small sigh of relief for investors who do not want to see a generic version of Copaxone.
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