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After a three-month delay, Teva Pharmaceutical (TEVA) finally won U.S. regulatory approval to sell its new preventive migraine treatment, which the company is counting on to help turn around its fortunes. The move cheered investors, since the Teva drug, which is called Ajovy, is a new type of medicine called a CGRP inhibitor that studies indicate can appreciably reduce the frequency at which migraines appear.

Teva stock, in fact, was up around 5 percent in early trading on Monday, reflecting optimism that the migraine treatment can help the drug maker overcome three problems: generic competition to its Copaxone brand-name multiple sclerosis drug, which has been a big seller; pricing pressure on its all-important generic business; and a $28 billion debt load.

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