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Stock Alert: Teva Pharma Up 12% In After-Hours Session

Shares of Teva Pharmaceutical Industries Ltd. (TEVA) rallied more than 12% in after-hours trading on March 19, following a 7.17% rise in the regular trading session to close at $7.17. The stock has been trading in the range of $6.07 - $17.13 for the past one year.

Teva Pharma announced the immediate donation of more than 6 million doses of hydroxychloroquine sulfate tablets through wholesalers to hospitals across the U.S. to meet the urgent demand for the medicine as an investigational target to treat COVID-19.

Additional production of hydroxychloroquine sulfate tablets is also being assessed and subsequently ramped up with materials that are being sent to Teva from the ingredient supplier. Teva noted that it would ship 6 million tablets through wholesalers to hospitals by March 31, and more than 10 million within a month.

The company is also actively looking at additional ways to address acute and substantial need during the COVID-19 crisis.

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