The stock of Biohaven Pharmaceutical Holding Company Ltd. (NYSE: BHVN) has risen on strong sales for a new migraine drug. The price of BHVN stock increased 13.56% on July 7 to $112.25 and rose 2.24% to $114.77 on Thursday, July 8.
Biohaven Pharmaceutical Holding Company Ltd. (BHVN) recently announced that its Nurtec Odt drug has generated $200 million in revenues since it began selling the product in the US in March 2020, while drug sales are growing and its potential commercially hasn’t been exhausted. Hence, the drug brought in $93 million in the second quarter of 2021.
The optimism of the company’s management and shareholders is based on Nurtec Odt’s capabilities. The drug is intended to prevent attacks of severe headache, not only to relieve symptoms once they appear. There are obvious benefits for patients in using this approach.
The target market for Nurtec Odt is very large since migraine has grown to become the world’s third-most prevalent disease. There are 40 million patients diagnosed with it in the United States alone, and it is one of the ten most common causes of disability.
The new drug provides the BHVN with an opportunity to grow its sales as more doctors and patients become aware of a new product. Currently, Nurtec Odt is the only migraine medication approved both for the prevention of migraines and for the treatment of acute attacks. One dose can relieve a patient’s pain in just an hour, and the effect lasts for two days in many cases. In prophylaxis, 18 doses of drugs are taken per month on average. There are also different options that can be taken such as reducing the number of attacks during a given month.
In addition to advancing the lives of patients with debilitating neurological disorders and neuropsychiatric disorders, Biohaven offers best-in-class medicines in clinical trial stages.