In March 11th we wrote a detailed report on Teva Pharmaceutical Inc. (TEVA) [stock_quote symbol=”TEVA”] titled: “Teva Pharmaceutical Inc. (TEVA): Possibly the most undervalued global pharmaceutical company“. Since, TEVA is up more than 30% and has outperformed the SPY by more than 35% since our initial report. Yesterday, we published an update indicating that TEVA’s bullish narrative continues and that our price target stands.
Shortly after release of our report, TEVA released news that they plan to present new data, including long-term data, at the 60th Annual Scientific Meeting of the American Headache Society which is taking place in San Francisco from June 28 – July 1st of 2018.
They are planning to present one-year data on Fremanezumab, which will include, long-term response rates, acute headache medication use, and disability, efficacy, safety, quality-of-life impact, and reversion of patients from chronic to episodic migraine. TEVA announced earlier that they will no longer be pursuing the chronic migraine market and are going to focus on the episodic instead.
Fremanezumab, is a humanized monoclonal antibody targeting calcitonin gene–related peptide (CGRP), is being investigated as a preventive treatment for migraine. Migraine is described as a complex neurological disorder that is characterized by recurrent pulsating headaches of at least moderate severity. It is estimated that there is a global prevalence of 15% – 18%. However, chronic migraine – occurrence of at least 15 days with headache per month for at least 3 months – effects approximately 2% of the population.
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About Teva Pharmaceuticals:
Teva Pharmaceutical Industries Limited, a pharmaceutical company, develops, manufactures, markets, and distributes generic medicines and a portfolio of specialty medicines worldwide. It operates through two segments, Generic Medicines and Specialty Medicines. The Generic Medicines segment offers sterile products, hormones, narcotics, high-potency drugs, and cytotoxic substances in various dosage forms, including tablets, capsules, injectables, inhalants, liquids, ointments, and creams. This segment also develops, manufactures, and sells active pharmaceutical ingredients. The Specialty Medicines segment provides specialty medicines for use in central nervous system and respiratory indications. Its products in the central nervous system area comprise Copaxone for the treatment of relapsing forms of MS; and AUSTEDO for the treatment of tardive dyskinesia and chorea associated with Huntington disease. This segment’s products in the respiratory market include ProAir, ProAir Respiclick, QVAR, Duoresp Spiromax, Qnasl, Braltus, Cinqair/Cinqaero, and Aerivio Spiromax for the treatment of asthma and chronic obstructive pulmonary disease, as well as Bendeka, Treanda, Granix, Trisenox, Lonquex, and Tevagrastim/Ratiograstim products in the oncology market. The company has collaboration arrangements with Otsuka Pharmaceutical Co. Ltd. and Regeneron Pharmaceuticals, Inc. Teva Pharmaceutical Industries Limited was founded in 1901 and is headquartered in Petach Tikva, Israel. [source: finviz.com]
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