Teva gets a badly needed win: FDA OKs their runner-up CGRP migraine drug, with Eli Lilly trailing behind
The FDA has come through with a delayed OK for Teva’s new migraine drug. And this one represents a badly needed win for the new management team as they look to regain some lost respect.
Teva put out the word about the approval late Friday. Its shares $TEVA were up 6% in after-market trading.
This new drug fremanezumab — to be marketed as Ajovy — comes in as the second approval for the batch of CGRP drugs in the pipeline. Amgen scored bragging rights, as well as an opportunity to set the bar on the price, as first mover with Aimovig. Now Eli Lilly remains in its familiar position towards the end of the line, with a PDUFA date set for next month. Alder remains at the back of the pack after delays pushed back any decision into next year.
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