FDA approves Teva’s Ajovy (migraine)

Teva Pharmaceuticals yesterday announced that FDA has approved Ajovy (fremanezumab) for the prevention of migraine. Ajovy is an anti-peptide monoclonal antibody that binds to calcitonin gene-related peptide (CGRP), designed for episodic migraine and chronic migraine prevention in adults. Fremanezumab is an injection drug administered monthly or every three months.  The news surprised the market, because Credit Suisse some days ago stated in a report that an approval was unlikely. Teva’s shares have positively reacted by increasing 2.88% during the trading day and 6% in after-market trading (Wall Street). Ajovy will be sold in the US at $575 per monthly dose and $1,725 per quarterly dose. It has potential to generate up to $1bn pa before 2022, according to consultancy EvaluatePharma.