Active Biotech gains as EMA begins review of laquinimod

Active Biotech AB (SSE:ACTI) gained SEK6.05 (14%) to SEK50.25 on Tuesday after EMA accepted for review an MAA for laquinimod to treat relapsing-remitting multiple sclerosis (RRMS). The acceptance triggers a $5 million payment to Active Biotech from partner Teva Pharmaceutical Industries Ltd. (NASDAQ:TEVA), which has exclusive, worldwide rights to the oral quinoline-3-carboxamide immunomodulator. The MAA includes data from the Phase III ALLEGRO and BRAVO trials. Teva was up $1.20 to $42.34 on Tuesday. ...