NORTH CHICAGO, Ill. - AbbVie (NYSE: NYSE:ABBV) has released interim analysis results from a Phase 3 extension study, which suggest that atogepant, an oral medication, maintains long-term safety and efficacy in preventing migraines.
The findings, to be presented at the American Academy of Neurology Annual Meeting, indicate that 70% of participants experienced a significant reduction in monthly migraine days over a 48-week treatment period.
The study involved individuals with chronic or episodic migraines who had previously completed the PROGRESS and ELEVATE trials. These participants continued to receive atogepant for an additional 156 weeks.
The interim analysis revealed an average improvement of 8.5 fewer migraine days per month after 13-16 weeks, a benefit that persisted throughout the 48-week open-label treatment phase.
No new safety concerns were identified, with the most common adverse events being COVID-19, nasopharyngitis, and constipation. The safety profile of atogepant remained consistent with previous findings.
Dr. Sait Ashina, the lead author of the study and a faculty member at Harvard Medical School, emphasized the significance of the results, stating that they build on the observed long-term safety and efficacy of atogepant, demonstrating its potential to reduce migraine days and acute medication use.
Atogepant, marketed as QULIPTA® in the U.S. and AQUIPTA® in the European Union, is approved in 45 countries as a calcitonin gene-related peptide (CGRP) receptor antagonist for the prevention of migraines in adults. AbbVie plans to continue seeking regulatory approvals in additional international markets.
Migraine, a debilitating neurological condition, affects over 1 billion people worldwide and is a leading cause of disability for individuals under 50 years of age.
Chronic migraine sufferers experience headaches for 15 or more days per month, which significantly impacts their quality of life and imposes economic burdens on healthcare systems.
AbbVie's commitment to addressing the needs of migraine patients is reflected in its portfolio of three prescription treatments designed to cater to the full spectrum of the condition.
The information in this article is based on a press release statement from AbbVie.
InvestingPro Insights
As AbbVie (NYSE: ABBV) forges ahead with its promising migraine treatment, atogepant, the company's financial health and market performance continue to be of interest to investors. With a robust market capitalization of 296.62 billion USD, AbbVie stands as a significant player in the pharmaceutical industry. The company's P/E ratio, adjusted for the last twelve months as of Q4 2023, is 22.42, indicating investor confidence in its earnings potential despite a high earnings multiple. Moreover, AbbVie's dividend yield of 3.65% as of April 2023 is a testament to its commitment to returning value to shareholders, having raised its dividend for 11 consecutive years—an InvestingPro Tip that highlights the company's stable financial returns.
Analyzing the company's performance further, the revenue for the last twelve months as of Q4 2023 stands at 54.32 billion USD, with a gross profit margin of 69.21%, showcasing the company's ability to maintain profitability. Additionally, with analysts predicting profitability for the current year, an InvestingPro Tip suggests that net income is expected to grow, which could be an encouraging sign for potential investors. For those interested in exploring more about AbbVie's financials and market performance, there are 12 additional InvestingPro Tips available on Investing.com, offering deeper insights into the company's valuation, industry standing, and liquidity concerns.
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