URI vs. SSD: Which Stock Should Value Investors Buy Now?
Allergan’s AGN anti-calcitonin gene-related peptide (“CGRP”) candidate, atogepant, met the primary endpoint in the phase II part of the phase IIb/III study. The CGP-MD-01 study was evaluating oral dosages of the candidate for the acute treatment of episodic migraine.
Meanwhile, the company has another anti-CGRP candidate, ubrogepant, in its pipeline that demonstrated positive results in two phase III studies, evaluating it for the treatment of single migraine attack. The positive data readouts from the CGP-MD-01 study boosts the company’s anti-CGRP pipeline. The company is currently in discussion with regulatory authorities, following which it will advance atogepant to phase III stage of development.
Allergan’s shares have increased 4.5% this year so far against the industry’s rise of 1.2%.
The CGP-MD-01 study evaluated 5 doses of atogepant — once daily 10mg, 30mg and 60mg, and twice daily 30mg and 60mg — for the prevention of episodic migraine over 12 weeks. Atogepant achieved a reduction of statistical significance in monthly migraine/probable migraine (“MPM”) headache days from baseline for all doses.
Allergan will present additional details at upcoming scientific meetings.
Moreover, a potential approval for these candidates will boost the company’s migraine product line, which includes Botox for the treatment of chronic migraine. The oral administration will also help ubrogepant and atogepant gain an advantage over other injectable drugs, if approved.
Meanwhile, the migraine space is attracting lot of interest due to its high unmet need. Several companies are developing treatments for this disease. In May, Amgen AMGN and its partner Novartis NVS received approval for commercializing their anti-CGRP drug, Aimovig, for treating episodic migraine. Other anti-CGRP candidates under development include Eli Lilly’s LLY galcanezumab, Teva Pharmaceutical’s fremanezumab and Alder BioPharmaceuticals’ eptinezumab. Galcanezumab and fremanezumab are under review in the United States.
Migarine is a multi-billion dollar market with approximately 36 million people in the United States suffering from it. Among them, five to six million patients have episodic and chronic migraine.
Allergan plc Price
Allergan plc Price | Allergan plc Quote
Allergan currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Eli Lilly and Company (LLY) : Free Stock Analysis Report
Allergan plc (AGN) : Free Stock Analysis Report
Novartis AG (NVS) : Free Stock Analysis Report
Amgen Inc. (AMGN) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research