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Biohaven (BHVN) Q3 Nurtec Preliminary Sales Top Expectations

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Biohaven Pharmaceutical BHVN announced preliminary third-quarter 2021 sales for its oral CGRP-targeting drug, Nurtec ODT, of $136 million. As Nurtec ODT is the sole marketed drug of the company, its sales constitute the company’s total revenues.

Preliminary sales of Nurtec ODT comprehensively beat the Zacks Consensus Estimate of $114.1 million and increased 46% from the previous quarter. Sales of Nurtec ODT from the product launch till September 2021, as reported by the company, were approximately $336 million.

The company also mentioned that total prescriptions of the drug were more than 1,000,000 from the product launch till September 2021, with approximately 46,000 unique prescribers.

In the year so far, Biohaven has rallied 66.5% against the industry’s decline of 10.6%.

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Migraine is the third most prevalent illness in the world. Per the company, approximately 40 million people in the United States and close to a billion individuals worldwide suffer from migraine.

Nurtec ODT is the first and only CGRP-targeting migraine medication approved by the FDA to treat both acute migraine attacks as well as help prevent future migraine attacks. With the drug serving as medication for both treatment and prevention of acute migraine, it anticipates exploiting the market opportunity by catering to this population.

Nurtec ODT was first approved by the FDA in February 2020 to treat acute migraine and received label expansion from the FDA for the preventive treatment of episodic migraine in May 2021.

We remind investors that the figures released by the company are preliminary and unaudited. Final results will be issued upon completion of its closing procedures and may vary from these preliminary estimates.

Per the company, the drug presently accounts for approximately 61% of new-to-brand prescriptions for oral CGRP-targeting drugs. It faces stiff competition from other anti-CGRP drugs, which are also approved for similar indications. These include Amgen’s AMGN Aimovig and Eli Lilly’s LLY Emgality, which are currently approved for preventive treatment of migraine.

Last week, AbbVie ABBV announced that the FDA has approved its oral CGRP receptor antagonist Qulipta as a preventive treatment of episodic migraine in adults. Impel NeuroPharma also received approval for its lead product, Trudhesa nasal spray, for acute treatment of migraine in adult patients in September.

Biohaven Pharmaceutical Holding Company Ltd. Price

Biohaven Pharmaceutical Holding Company Ltd. Price
Biohaven Pharmaceutical Holding Company Ltd. Price

Biohaven Pharmaceutical Holding Company Ltd. price | Biohaven Pharmaceutical Holding Company Ltd. Quote

Zacks Rank

Biohaven currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.


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