Biohaven CEO Vlad Coric told CNBC Tuesday a recent approval of the company’s migraine drug will “change the paradigm” of migraine prevention and treatment.
The U.S. Food and Drug Administration last week approved the medicine, Nurtec ODT, for preventative treatment of migraines. That comes about a year after Nurtec was first launched to treat the symptoms of debilitating headaches, making it the first pill approved for both acute treatment and prevention, according to Coric.
“This is a monumental approval for Biohaven and patients with migraine,” Coric said in a “Mad Money” interview with Jim Cramer.
“I’ve been practicing medicine for 25 years, and this is the first time we have a single migraine medication that can do both of these things,” Coric said. “This is going to change the paradigm in which migraine is treated.”
The New Haven, Connecticut-based pharmaceutical company has recruited celebrity names like actress Whoopi Goldberg and model Khloe Kardashian to promote the therapy.
Biohaven shares closed at $95.36 apiece Tuesday, up 6.5% from where it last traded before the announcement.