Teva announces success chronic migraine headache drug

Teva Pharmaceutical Industries announced strong results of a late-stage Phase 3 trial with its drug to treat patients with chronic migraines.

Patients given the monoclonal antibody, known as fremanezumab, had a "statistically significant" reduction in monthly migraine days "of at least moderate severity" compared to placebo over a 12-week treatment period, said the Israel-based drug maker with North America headquarters in North Wales, Montgomery County.

Teva said it plans to file a biologics license application with the Food and Drug Administration this year. The drug met all primary and secondary endpoints, the company said.

Teva shares rose 5.41 percent, or $1.49, to $29.01 in trading Thursday.