EMA endorses Teva's migraine drug; Disaster prone CTI BioPharma rescinds EU application for pacritinib
→ The EMA was busy on Friday. The European drug regulator, which is currently in the process of shifting its headquarters to Amsterdam from London, recommended the approval of Teva’s migraine-prevention drug, Ajovy. A final decision is expected in the first half of this year, and if approved the treatment drug will be the first and only anti-CGRP medicine in the EU with both quarterly and monthly dosing options, the Israeli drugmaker said. CTI BioPharma, however, had bad news to report on the European front for its myelofibrosis drug pacritinib. The notoriously failure-prone drug developer announced it was withdrawing an application to market the drug in the EU, following discussions with the EMA. Last year, Shire backed away from a partnership with the ill-fated company, following a mixed data readout from a pivotal study that was previously put on a full clinical hold — under the behest of the FDA — after the death of several patients. The company’s shares $CTIC tumbled more than 15% in early Friday trading.
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