FDA Rejects Teva - MedinCell's Schizophrenia Candidate

• Teva Pharmaceutical Industries Ltd's (NYSE:TEVA) U.S. affiliate and MedinCell SA (OTC:MDCLF) have received FDA Complete Response Letter (CRL) regarding TV-46000/mdc-IRM for schizophrenia.
• The drug candidate is risperidone extended-release injectable suspension for subcutaneous use.
• Teva is reviewing its next steps based on the letter and will work closely with FDA to address their recommendations.
• Related: Teva Reports Encouraging Data From Late-Stage Schizophrenia Trial.
• The application included Phase 3 data from two pivotal studies that evaluated the efficacy, long-term safety, and tolerability of TV-46000 as a treatment for patients with schizophrenia.
• Price Action: TEVA shares are down 4.42% at $9.73 during the premarket session on the last check Wednesday.