Fri. Nov 22nd, 2019

Shares of Teva up 3% on positive migraine trial

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Shares of Teva Pharmaceutical Industries

TEVA, +4.47%

rose 3% in premarket trade Wednesday after The Lancet published results from a late-stage study showing that patients on the company’s migraine treatment Ajovy, also known as fremanezumab, experienced a significant reduction in migraine days when compared to patients on placebo. The trial, dubbed FOCUS, looked at 838 people who had unsuccessfully tried two to four other classes of preventive migraine treatments. They were randomly assigned to receive either a placebo or one of two dosing regiments of Ajovy. During the 12 weeks after the first dose, those on Ajovy saw a statistically-significant reduction in the monthly number of days with migraines, researchers found. “Migraine can be debilitating for patients — and frustrating for those who have failed multiple preventive treatments,” said Joshua M. Cohen, the head of Teva’s migraine & headache segment. “We continue our clinical trial efforts in the area of migraine research and we are very pleased with the FOCUS results.” Ajovy is already approved in the U.S. and Europe for the preventive treatment of migraines in adults. Shares of Teva have fallen 54.5% in the year to date through Monday. The S&P 500

SPX, -0.79%

has gained 15.7%.

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