In lat­est blow to Te­va, CGRP mi­graine med could be de­layed while ri­vals race to­wards the fin­ish line

It’s start­ing to feel like Te­va $TE­VA can’t catch a break. Af­ter an in­cred­i­bly rough se­ries of events that led to mas­sive lay­offs, re­struc­tur­ing, and po­lit­i­cal up­heaval, now Te­va has qui­et­ly sig­naled to in­vestors that the launch of its CGRP mi­graine med could be de­layed.

Te­va’s stock has tum­bled near­ly 10% in pre-mar­ket trad­ing on the news.

Te­va’s drug, called fre­manezum­ab (TEV-48125), came up with some im­pres­sive Phase III da­ta last fall, with 41% of pa­tients on their CGRP drug see­ing their mi­graine days cut in half, com­pared to 18% on the place­bo. The dou­ble blast of da­ta un­der­scores the late-stage race to reg­u­la­tors as some big and small play­ers an­gle for a slice of the new CGRP mi­graine mar­ket.

Unlock this article instantly by becoming a free subscriber.

You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.

SIGN UP LOG IN BECOME A PREMIUM SUBSCRIBER