Adds trial details in paragraph 2, disease background in paragraph 3 and share movement in paragraph 4
Dec 17 (Reuters) - Sanofi SASY.PA and Teva Pharmaceuticals TEVA.TA said on Tuesday that their drug, duvakitug, met the main goals in a mid-stage trial when tested in patients with inflammatory bowel disease $(IBD)$.
The drug met the main goals of disease remission and effectiveness for the treatment of ulcerative colitis and Crohn's disease, respectively.
These are the two most common forms of IBD, which affects between 2.4 million and 3.1 million people in the U.S.
U.S.-listed shares of Teva rose nearly 14%, while U.S.-listed shares of Sanofi climbed 4% premarket.
(Reporting by Christy Santhosh in Bengaluru; Editing by Shailesh Kuber)
((Christy.Santhosh@thomsonreuters.com;))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.