Teva Receives FDA Approval for Migraine Autoinjector
Teva’s anti-migraine injection was approved in late 2018 but struggled to establish a market share due to both Amgen and Eli Lilly offering a similar drug with an autoinjector
Teva Pharmaceutical Industries Ltd. has received approval from the U.S. Food and Drug Administration for an autoinjector for its migraine-treatment drug Ajovy, the company announced Tuesday. Teva is set to start selling the new version by the end of the current quarter, or by the start of the next quarter. The company has yet to set a price for the autoinjector and therefore did not provide a revenue forecast.
Ajovy is one of the two new brand name drugs Teva introduced into the market a little over a year ago, the other one being Austedo for Huntington's disease and tardive dyskinesia. Teva has tapped the two drugs as its main future money makers in the face of Copaxone’s dropping revenues. To date, however, Ajovy struggled to establish itself in the market due to rivals Amgen Inc. and Eli Lilly and company both offering a similar drug in an autoinjector.
Teva CEO Kåre Schultz. Photo: Bloomberg