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MarketScreener Homepage  >  Equities  >  TEL AVIV STOCK EXCHANGE  >  Teva Pharmaceutical Industries Limited    TEVA   IL0006290147

TEVA PHARMACEUTICAL INDUSTRIES LIMITED (TEVA)
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Teva Pharmaceutical Industries : FDA Approves Teva's Migraine Drug Ajovy -- Update

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09/15/2018 | 02:21am CEST

By Maria Armental

The U.S. Food and Drug Administration has approved for sale Teva Pharmaceutical Industries Ltd.'s (TEVA, TEVA.TV) migraine drug Ajovy, the latest in a new class of drugs that target a brain chemical known as CGRP.

Researchers have found that CGRP, which stands for calcitonin gene-related peptide, is involved in the brain's pain-signaling during migraines.

Ajovy should be available in about two weeks, Teva said, and its wholesale-acquisition cost--an industry term for the price drug companies charge wholesalers--will be about $575 for a 225 mg monthly dose and $1,725 for a 675 mg quarterly dose.

The most common adverse reactions in clinical trials were injection-site reactions, the company said.

Amgen Inc. and Novartis AG's Aimovig, the first of the new type of migraine drugs to hit the U.S. market, was approved in May with a list price of $6,900 a year.

Teva, the world's biggest seller of generic drugs, had been counting on the approval of Ajovy, or fremanezumab, to boost sales.

"The way we recover is Ajovy," Chief Executive Kåre Schultz said last month.

The Israeli drugmaker reported a 14% revenue decline for the first half of the year, which the company has attributed in part to continued pricing pressure in its U.S. generics business and generic competition to multiple-sclerosis drug Copaxone.

Shares, which have outperformed the market with a 21% gain this year, rose 6% to $24.25 in after-hours trading.

Write to Maria Armental at maria.armental@wsj.com

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09/17PREMARKET GAINERS AS OF 9 : 05 am (09/17/2018) 
Financials ($)
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 1
Average target price 22,0 $
Spread / Average Target -11%
Managers
NameTitle
Kåre Schultz President, Chief Executive Officer & Director
Sol J. Barer Chairman
Carlo de Notaristefani Executive Vice President-Global Operations
Michael McClellan Chief Financial Officer & Executive Vice President
Amir Elstein Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
TEVA PHARMACEUTICAL INDUSTRIES LIMITED25 245
JOHNSON & JOHNSON2.26%376 847
PFIZER21.29%257 522
NOVARTIS-0.63%217 697
ROCHE HOLDING LTD.-5.48%209 212
MERCK AND COMPANY26.36%188 241