Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA) has recorded another milestone of success through the Phase III HALO study of its migraine drug fremanezumab. The experimental drug used to prevent migraines brought out a fresh line-up of promising data across all its endpoints. The results put it near a possible approval by the U.S. FDA as the company raises its hopes of having it launched in the second half of 2018.
The episodic study of fremanezumab involved 1,130 patients and was run for 16 weeks while being administered once a month as an injection of different strengths. It was found to be effective in reducing the number of headaches during the trial using both monthly and quarterly doses.
The drug is seeking a differentiation from competition
From the HALO trials, Fremanezumab demonstrated efficacy for both monthly and quarterly dosing. This is a clear indication that the therapy has the ability to set a new benchmark in the relief of migraine suffering.
The drug’s success would be a much-needed boost for Israel’s biggest company and according to analysts it is likely to generate at least $1 billion in sales annually.
But the market is packed with competition
Teva will have to up its game and strategies to pull through the competition from its rivals. A few weeks ago Eli Lilly and Co (NYSE:LLY) presented positive results for the Phase III of its galcanezumab and Allergan plc Ordinary Shares (NYSE:AGN) is on its way with an oral CGRP therapy. Novartis AG (ADR) (NYSE:NVS) and Amgen, Inc. (NASDAQ:AMGN) are already credited as frontrunners in the race given that they were the first to have positive Phase III results for erenumab.
However, despite all these, Michael Hayden, Teva’s R&D chief says, “We are immensely proud to be able to bring to the migraine community the hope that they might soon have a new option that could provide a meaningful reduction in the migraine burden patients habitually suffer.”
In the meantime, Teva’s stock closed at $28.78 witnessing an increase of $0.03 or 0.10%.