Teva’s Ajovy Claims 28%-30% New Prescription Share In Competitive CGRP Race
The company said it has captured a roughly 28%-30% share of new prescriptions in the CGRP market with the initial launch of Ajovy, a key future growth driver to offset declining Copaxone sales.
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Q1 revenue was roughly in line with expectations, but product sales were lower than consensus as multiple blockbusters faced generic competitors and biosimilars – a scenario the company prepared investors for earlier this year.
As the company's turnaround plan matures, 2019 will remain a year of cost-cutting and focus as it looks to pay down debt and stabilize its financials. "We'll be focused on optimizing our own business rather than adding new businesses," CEO Schultz said.
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.