Migraine treatment results in Japan boost Teva

Teva's Ajovy migraine treatment Photo: Company website

Teva's share price has risen about 12% in two days in Tel Aviv following its report of positive results in Phase 2/3 trials for Ajovy by its Japanese partner.

Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) has been rising strongly following its announcement yesterday of positive results from two Phase 2/3 trials evaluating Ajovy (fremanezumab) in patients in Japan. Teva rose 7.21% in New York yesterday, and is up 5.37% on the Tel Aviv Stock Exchange today following on from a 6.07% rise in yesterday's session. Ajovy is under development in Japan by Otsuka Pharmaceutical Co., Ltd. as part of a May 2017 exclusive license agreement for development and sales of Ajovy in Japan.

"This study adds to the wealth of positive Ajovy data we have in patients globally," said Joshua M. Cohen, Global Medical Lead for Migraine & Headache at Teva. "The annual prevalence of migraine in Japan is 8.4% of adults, so we are pleased to be one step closer to bringing Ajovy to patients in Japan who could benefit from a preventive treatment."

Teva says that preliminary trial results indicated that primary endpoints were achieved with both clinical and statistical significance versus placebo for subjects with chronic migraine and episodic migraine, respectively. Statistically significant improvements versus placebo were also demonstrated for all secondary endpoints. Ajovy was well tolerated with a similar adverse events profile compared to placebo. Following additional analysis, more detailed results will be presented at upcoming medical congresses and publications.

Teva adds that these are pivotal studies that will enable filing for Pharmaceuticals and Medical Devices Agency (PMDA) approval for marketing authorization in Japan.

Published by Globes, Israel business news - en.globes.co.il - on February 4, 2020

© Copyright of Globes Publisher Itonut (1983) Ltd. 2020

Teva's Ajovy migraine treatment Photo: Company website
Teva's Ajovy migraine treatment Photo: Company website
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