Teva rises on FDA approval for generic obesity drug

U.S.-listed shares of Israeli drugmaker Teva Pharmaceuticals TEVA.N rise 3.2% to $18.63 premarket

Co says the US FDA has approved its generic version of Novo Nordisk's NOVOb.CO older weight loss drug Saxenda

"We will provide patients in the U.S. the first ever generic GLP-1 product specifically indicated for weight loss"- TEVA

Saxenda is approved for adults with obesity, who also have weight-related medical problems, and for certain pediatric patients

Up to last close, TEVA down 25.5% YTD