Amgen Inc.’s drug Aimovig has received Food and Drug Administration approval for the prevention of migraines in adults, the first drug of its kind to do so.
Aimovig was developed in collaboration with the neuroscience division of Swiss drugmaker Novartis International, which holds co-commercialization rights to the medication in the U.S. It was discovered in Amgen’s labs at its Thousand Oaks headquarters, according to a company spokeswoman.
The medication is part of a new class of drugs that prevent migraines by blocking a compound called calcitonin gene-related peptide, or CGRP, from binding to its receptor on the surface of cells. CGRP is involved in the dilation of blood vessels and signal transmission between nerves, processes that are thought to be the basis of migraine pathophysiology.
Aimovig is priced at $6,900 a year, according to the company.
Amgen stock (AMGN) rose $1.65, or about 1 percent, on Friday to close at $176.30 on the Nasdaq.