Why Teva's Stock Is Trading Higher Today

Teva Pharmaceutical Industries TEVA shares were trading higher on Friday.

On Thursday, U.S. President Trump said during the White House's daily coronavirus task force press conference that malaria treatments have shown promise on affecting a coronavirus infection.

The compound being targeted by health researchers is called hydroxychloroquine and is sold by Teva under the brand name Plaquenil.

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On Thursday, Teva disclosed it has donated 6 million doses of hydroxychloroquine sulfate to hospitals around the U.S.

Teva is a multinational pharmaceutical company which develops, manufactures, markets, and distributes generic medicines.

Shares were trading up 9.9% at $7.88 at time of publication on Friday. The stock has a 52-week high of $17.13 and a 52-week low of $6.07.