TEL AVIV - Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) has presented a new sub-analysis from its PEARL study at the 10th European Association of Neurology (EAN) congress in Helsinki, suggesting that pauses in migraine prevention treatment with its drug AJOVY (fremanezumab) could lead to increased migraine days and reduced effectiveness upon treatment reinitiation.
The analysis of real-world data examined the effects of stopping and restarting treatment with fremanezumab among adults with episodic or chronic migraine. Findings indicated that over 40% of patients experienced a significant worsening of their condition immediately after pausing treatment. Furthermore, the efficacy of the treatment was lower after it was restarted, compared to its initial use.
Professor Dimos Mitsikostas, from the Medical School of the National & Kapodistrian University of Athens, highlighted the importance of the study for clinicians. He pointed out that the evidence suggests a need for personalized treatment approaches rather than a one-size-fits-all strategy for long-term migraine management.
Currently, there is a lack of robust evidence to guide the discontinuation of migraine prophylactic therapies. While the European Headache Federation (EHF) guidelines suggest considering a treatment pause after 12-18 months, they also recommend continuing treatment if necessary. Different reimbursement policies across Europe further complicate the issue, with some countries mandating treatment breaks despite limited data to support such practices.
Dr. Pinar Kokturk, Vice President & Head of Medical Affairs Europe at Teva, emphasized that the study underscores the benefits of continuous treatment and individualized patient management strategies. The PEARL study has shown the long-term effectiveness and safety of fremanezumab in preventing both episodic and chronic migraine in a real-world setting.
AJOVY, available as a single dose injection, is prescribed for the prophylaxis of migraine in adults who experience at least four migraine days per month. It offers two dosing options: a monthly dose of 225 mg or a quarterly dose of 675 mg.
The information in this article is based on a press release statement from Teva Pharmaceutical Industries Ltd.
In other recent news, Teva Pharmaceutical Industries has settled a long-standing tax dispute with the Israeli Tax Authority, agreeing to a payment of $750 million to be made from 2024 to 2029. This resolution allows Teva to move forward, focusing on its "Pivot to Growth" strategy, without the overhang of past tax litigation. Additionally, the company has launched the first generic version of the diabetes drug Victoza, providing a more affordable option for patients and healthcare providers.
Teva has also initiated an antitrust lawsuit against Corcept Therapeutics (NASDAQ:CORT), alleging a monopoly over the Korlym market, a treatment for Cushing's syndrome. On the analyst front, both Piper Sandler and Barclays have maintained an Overweight rating on Teva shares, with Piper Sandler's optimism based on positive views on TEV-749, Teva's long-acting antipsychotic medication.
Teva is implicated in opioid crisis settlements exceeding $46 billion, resulting from lawsuits accusing pharmaceutical manufacturers, including Teva, of contributing to the opioid addiction epidemic. Lastly, Teva has appointed Matthew Shields as the Executive Vice President of Teva Global Operations, bringing over 25 years of experience in the biopharmaceutical and animal health industries to his new role.
InvestingPro Insights
As Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) continues to make strides in migraine prevention with its drug AJOVY, the company's financial health and market performance provide additional context for investors. Teva's market capitalization currently stands at a robust $18.4 billion, reflecting investor confidence in its business model and product pipeline. An important metric for shareholders, the price to earnings (P/E) ratio, is at 16.5 on an adjusted basis for the last twelve months as of Q1 2024, suggesting that investors are expecting future earnings growth despite recent challenges.
From the perspective of company performance, Teva has demonstrated a strong return over the last year, with a 116.8% price total return. This impressive uptrend is also seen in the short term, with a 15.24% price total return over the last three months, indicating a positive reaction from the market to Teva's recent developments and potentially its strategic focus on drugs like AJOVY.
InvestingPro Tips highlight that Teva is a prominent player in the Pharmaceuticals industry and analysts predict the company will be profitable this year. These insights align with the company's recent medical findings and suggest that Teva's strategic direction may continue to garner positive results. For investors seeking a deeper analysis, there are additional tips available on InvestingPro, and using coupon code PRONEWS24 can secure an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
With the next earnings date set for August 7, 2024, investors will be watching closely to see if the positive momentum can be sustained. For those interested in further company insights, there are 10 additional InvestingPro Tips listed on: https://www.investing.com/pro/TEVA, which can provide valuable guidance for making informed investment decisions.
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