Teva Pharma Ran A Migraine Trial — And Lilly, Amgen Benefited

 

New Delhi, June 05, 2017: Eli Lilly (LLY) and Amgen (AMGN) stocks got a boost Wednesday after rival Teva Pharmaceutical (TEVA) unveiled strong results of a Phase 3 trial in treating chronic migraines.

On the stock market today, Lilly stock rose 1.6% to 79.57. Lilly, however, also benefited from a strong late-stage trial in advanced bladder cancer. Meanwhile, Amgen stock popped 0.9% to 155.24.

But shares of Alder Biopharmaceuticals (ALDR), another player in migraine treatments, fell 4.05% to 15.40. Teva, which conducted the results, edged up 0.1% to 27.86.

All four are working on anti-calcitonin gene-related peptides, known as anti-CGRPs, to tackle migraines. Mounting evidence has linked an increase in CGRPs to the onset of a migraine. Knocking down CGRPs is thought to prevent migraines.

Teva is aiming to reduce migraines over monthly and quarterly periods with its drug known as fremanezumab. Alder already has a quarterly infusion for migraines. This could be important for competitive positioning, Evercore analyst Umer Raffat said.

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IBD’S TAKE: IBD’s 17-company Generic-Drugs industry group is ranked No. 154 out of 197 groups tracked, trailing its sister industry groups Ethical Drugs and Biomed/Biotech, which are ranked Nos. 66 and 46, respectively. For a closer look at the industry layout, visit IBD’s Biotech And Pharma Industry And Stock News page.

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“Amgen and Lilly never developed their antibodies for quarterly dosing,” he said. “Recall (that the drug from) Teva also has a longer half-life than all competitors.”

The half-life is how long it takes for the amount of drug in the body to be reduced by 50%.

In a Phase 3 study of patients with chronic migraines, Teva’s drug cut monthly headache days of at least moderate severity by 4.6 days. Over a quarter, the drug reduced headache days by 4.3 days.

But making an apples-to-apples comparison is difficult, Raffat wrote in a note to clients. In a separate study of chronic migraine patients, Lilly’s drug showed a 2.7-day reduction in monthly migraine days, not just moderate to severe headaches.

Investors.com