Teva buys migraine maker

|About: Teva Pharmaceutical In... (TEVA)|By:, SA News Editor

Teva Pharmaceutical Industries (TEVA -0.7%) acquires Labrys Biologics for as much as $825M ($200M upfront and up to $625M in milestone payments). Labrys's lead product is LBR-101, an anti-CGRP mAb for the prevention of chronic and high frequency episodic migraines. Peak sales of the product could hit $2B - 3B. It is currently in a Phase 2b clinical trial.