NEW YORK — Teva Pharmaceutical Industries Ltd. and Antares Pharma Inc. said Monday the companies received Food and Drug Administration approval for use of the human growth hormone Tev-Tropin in a needle-free injection system.
The drug is already approved as an injection.
The approval gives the company's authorization to use the already approved drug in Antares' system, which does not involve a syringe injection. The companies will market the device as the Tev-Tropin Tjet Injector system.
Shares of Ewing, N.J.-based Antares skyrocketed 34 cents, or 47 percent, to reach $1.06 in afternoon trading. The stock earlier hit $1.21, its highest point in more than a year.
Shares or Israel-based Teva rose 55 cents to $49.15.
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