Teva Flying On Drug Launch (TEVA)

Shares of Teva Pharmaceuticals TEVA are rising on heavy volume on Wednesday after the company announced the commercial launch of Gemcitabine HCI for Injection in 200mg and 1g single dose vials. The drug is the generic version of Gemzar. Under the agreement, APP Pharmaceuticals, Inc. will manufacture Gemcitabine HCI for Injection and will receive a license from the Company to market the product within Company's 180-day exclusivity. In return, the Company will receive a royalty during the manufacturing term. Shares of TEVA have surged 3.83% to $56.66. Volume has been heavy with nearly 7 million shares already trading hands compared to a 3-month daily average of around 6 million.