Axsome Therapeutics rises on settlement with Teva for depression drug

Axsome Therapeutics

10/02/2025 12:51

** Shares of drugmaker Axsome Therapeutics  AXSM.O  rise
13.5% to $119.99 premarket
    ** Co says it has entered into a settlement agreement with
Teva Pharmaceuticals  TEVA.TA , resolving all patent litigation
related to AXSM's depression drug Auvelity 
    ** Under terms of agreement, AXSM to grant Teva license to
sell generic version of Auvelity beginning on or after March 31,
2039, if pediatric exclusivity is granted for Auvelity
    ** If no pediatric exclusivity is granted, AXSM to grant
Teva license six months earlier - on or after September 30, 2038
    ** "This outcome is better than our base case, which assumed
exclusivity through 2037"- brokerage Truist Securities
     ** Litigation resulted from regulatory submission by Teva
to FDA seeking approval to market a generic version of Auvelity
in the U.S. before expiration of applicable Axsome patents
    ** Stock had risen 6.3% in 2024  

 (Reporting by Sneha S K)
 ((Sneha.SK@thomsonreuters.com;))