Biohaven's Rimegepant Named To Cortellis 2020 Potential Blockbuster "Drugs to Watch" List
NEW HAVEN, Conn., Feb. 10, 2020 /PRNewswire/ -- Biohaven Pharmaceutical Holding Company Ltd. (NYSE: BHVN) today announced that Clarivate Analytics plc (NYSE: CCC; CCC.WS), a global leader in providing trusted insights and analytics to accelerate the pace of innovation, has named rimegepant to its annual Cortellis "Drugs to Watch" list, which identifies 11 new drugs scheduled to enter the market in 2020 and predicted by Cortellis to achieve annual sales of $1 billion or more (i.e., blockbuster status) by 2024.
William 'BJ' Jones, Biohaven's Chief Commercial Officer of Migraine and Common Diseases commented, "We are appreciative of this recognition for rimegepant. We believe in its promise to help many patients with migraine who don't respond to current therapies." Mr. Jones added, "We have spent the past year building a well-prepared, modern technology-driven and impressive commercial organization that is ready to transform Biohaven from an R&D organization into an organization that can deliver important medicines to patients."
The Cortellis list and corresponding analyses focus on the treatment and possible cure for chronic, progressive and often debilitating diseases and conditions, including drugs which target the indications of migraine, breast cancer, multiple sclerosis (MS), and type 2 diabetes.
About Rimegepant
Rimegepant is the first and only calcitonin gene-related peptide (CGRP) receptor antagonist developed in an orally disintegrating tablet (ODT) formulation that is currently under review by the U.S. Food and Drug Administration (FDA) for the acute treatment of migraine in adults. The activity of a molecule called CGRP is thought to play a causal role in migraine pathophysiology by surging during a migraine attack. Rimegepant works by blocking neurogenic inflammation, decreasing artery dilation (without active vasoconstriction) and inhibiting pain transmission on the CGRP receptor.
CGRP Receptor Antagonism
CGRP receptor antagonists represent a novel class of drug candidates for the treatment of migraine. This unique mode of action potentially offers an alternative to current agents, particularly for patients who have contraindications to the use of triptans, such as those with underlying cardiovascular diseases, or who either do not respond or have inadequate or inconsistent response to triptans or are intolerant to them.
About Migraine
Migraine is a debilitating and recurrent disease characterized by attacks lasting four to 72 hours with multiple symptoms, including pulsating headaches of moderate to severe pain intensity that can be associated with nausea or vomiting, and/or sensitivity to sound (phonophobia) and sensitivity to light (photophobia). Nearly 40 million people in the U.S. suffer from migraine and the World Health Organization classifies migraine as one of the 10 most disabling medical illnesses. There is a significant unmet need for new acute treatments as more than 90 percent of migraine sufferers are unable to work or function normally during an attack.
About Biohaven
Biohaven is a clinical-stage biopharmaceutical company with a portfolio of innovative, late-stage product candidates targeting neurological diseases, including rare disorders. Biohaven has combined internal development and research with intellectual property licensed from companies and institutions including Bristol-Myers Squibb Company, AstraZeneca, Yale University, Catalent, Rutgers, and ALS Biopharma LLC. Currently, Biohaven's lead development programs include multiple compounds across its CGRP receptor antagonist, glutamate modulation, and myeloperoxidase inhibitor platforms. Biohaven's common shares are listed on the New York Stock Exchange and traded under the ticker symbol BHVN. More information about Biohaven is available at www.biohavenpharma.com.
Forward-Looking Statements
This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve substantial risks and uncertainties, including statements that are based on the current expectations and assumptions of the Company's management. All statements, other than statements of historical facts, included in this press release regarding the Company's business and product candidate plans and objectives are forward-looking statements. Forward-looking statements include those related to: the expected timing, commencement and outcomes of the Company's planned and ongoing clinical trials, the timing of planned interactions and filings with the FDA, the timing and outcome of expected regulatory filings, including the need for any REMS or Advisory Committee meetings, the potential commercialization of the Company's product candidates, the potential for the Company's product candidates to achieve any specified level of revenues, the potential for the Company's product candidates to be first in class or best in class therapies and the effectiveness and safety of the Company's product candidates. The use of certain words, including "believe", "promise", "may", "possible" and "will" and similar expressions, are intended to identify forward-looking statements. Various important factors could cause actual results or events to differ materially from those that may be expressed or implied by our forward-looking statements. Additional important factors to be considered in connection with forward-looking statements are described in the "Risk Factors" section of the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission on February 28, 2019 and the Company's Quarterly Report on Form 10-Q for the quarter ended September 30, 2019, filed with the Securities and Exchange Commission on November 1, 2019. The forward-looking statements are made as of this date and the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
For further information, contact:
Dr. Vlad Coric
Chief Executive Officer
[email protected]
SOURCE Biohaven Pharmaceutical Holding Company Ltd.
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