Migraine Drug Atogepant Delivers Good News When Allergan Needs It Most
Oral CGRP inhibitor atogepant delivers strong Phase IIb/III results in episodic migraine prevention less than a week after activist investors went public with their push for a management shakeup to reverse Allergan's falling stock price.
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Allergan was expected to announce soon that it would follow its shareholders' advice and split the company in two, but it's being acquired by AbbVie for $63bn instead, finally giving investors a big boost in their Allergan holdings after years of decline.
CGRP inhibitors were a hot topic during third quarter earnings calls, with Amgen and Teva talking about reimbursement progress, while Lilly marked progress for its add-on treatment, Allergan calmed fears about Botox's migraine sales, and Alder said its intravenous drug is on track.
Agreement between Amgen/Novartis and Eli Lilly with Express Scripts on new migraine drugs could spur more demand by payers for simple, value-based outcomes deals.