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Israeli pharmaceutical giant Teva Pharmaceuticals has had major success with the US Food and Drug Administration this week, enjoying the approval of two of its drugs for the U.S. market.

Teva, the world's largest maker of generic pharmaceuticals, has had its generic version of AstraZenca's breast cancer drug Arimidex approved for sale in the US, to treat breast cancer in post-menopausal women.

The FDA also approved Venlafaxine HC1 ER capsules, Teva's new generic version of antidepressant Effexor XR. Effexor treats anxiety, panic attacks, and depression.  Teva has been awarded a 180-day exclusivity period, as the first to file an Abbreviated New Drug Application (ANDA).

On June 29, Teva stocks rose on the 1.73% on the NASDAQ.