Teva is claiming that Abbott Israel, a local entity which imports Similac, is behind a “mendacious and covert slur campaign” on social media.
Only a handful of hospitals have requested access to the hydroxychloroquine stockpile, according to the report.
Teva’s CEO Kare Schultz said the drug would be priced somewhat lower in China than in the United States.
Shares in the world’s largest generic drugmaker jumped nearly 20% in late Tel Aviv trade as the company also reaffirmed its 2020 outlook, despite disruption to the global economy from the coronavirus
Hydroxychloroquine sulfate tablets are used against malaria, lupus erythematosus and rheumatoid arthritis but could be effective against COVID-19.
Teva completed its two-year major restructuring plan in 2019, reducing its cost base by over $3 billion and net debt by more than $9b.
Researcher Hila Flayev has for years been conducting research on computational models of the coronavirus structure and interactions it can create.
In 2019, Teva Naot sold about 100,000 pairs of shoes in its stores and to retailers, and through the website in the Canadian market.
Israel-based Teva is looking to reach a nationwide settlement over its role in selling opioid painkillers, together with drugmaker Johnson & Johnson and the three largest U.S. drug distributors.
Teva stocks also closed up 8.67% on the New York Stock Exchange on Monday amid growing optimism.