Vlad Coric, CEO of Biohaven, told CNBC on Tuesday that a recent approval of the company’s migraine drug will “change the paradigm” of migraine prevention and treatment.
The US Food and Drug Administration approved the drug Nurtec ODT for the preventive treatment of migraines last week. This came about a year after Nurtec was launched to treat the symptoms of debilitating headaches. According to Coric, this is the first pill approved for both acute treatment and prevention.
“This is a monumental approval for Biohaven and patients with migraines,” 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’ve had a single migraine drug that can do both,” Coric said. “This will change the paradigm in which migraines are treated.”
The New Haven, Connecticut-based pharmaceutical company has recruited celebrities such as actress Whoopi Goldberg and model Khloe Kardashian to promote therapy.
Biohaven stock closed at $ 95.36 on Tuesday, up 6.5% from the last trade before the announcement.