Overview of Axert
Axert, also known as almotriptan malate, is a prescription medication used for the acute treatment of migraine attacks in adults. It belongs to the class of triptan drugs, which work by constricting blood vessels and blocking pain pathways in the brain.
Market Size and Growth
The migraine therapeutics market, within which Axert operates, is experiencing significant growth. The global migraine therapeutics market is projected to reach USD 6.16 billion by 2024 and grow at a CAGR of 6.84% to reach USD 8.58 billion by 2029[1].
Regional Performance
- North America: This region holds the largest market share in the migraine therapeutics market, driven by the high prevalence of migraines and the adoption of novel therapeutics. In the United States, for example, 17.1% of women and 5.6% of men report having migraine symptoms, which significantly contributes to the market size[1].
- Asia Pacific: This region is expected to be the fastest-growing market over the forecast period, driven by increasing awareness and healthcare spending[1][3].
Generic Market Impact
Teva's Generic Launch
Teva Pharmaceutical Industries Ltd. was the first to receive approval and launch generic Axert (almotriptan malate) tablets in the United States. This move was significant as it marked the first generic version of Axert, providing a more affordable alternative to the brand-name drug. The generic launch was facilitated by Teva's submission of an Abbreviated New Drug Application (ANDA) with a Paragraph IV certification, which allowed them to challenge the patents associated with the brand drug[4].
Financial Impact of Generic Competition
The introduction of generic Axert has likely impacted the financial trajectory of the brand-name drug. Generic versions typically reduce the market share and revenue of the original brand due to their lower pricing. For instance, the annual sales of brand-name Axert were approximately $31 million in the United States as of March 2015. The launch of the generic version would have reduced these sales figures as patients and healthcare providers opt for the more cost-effective generic alternative[4].
Pricing and Revenue
Pre-Generic Pricing
Before the generic launch, Axert was priced as a brand-name drug, which generally commands a higher price point compared to generics. This pricing strategy allowed the original manufacturer to capture significant revenue from the market.
Post-Generic Pricing and Revenue
With the entry of generic Axert, the pricing dynamics have changed. Generic drugs are typically priced lower than their brand-name counterparts, which can lead to a reduction in revenue for the original manufacturer. However, the overall market size for migraine therapeutics continues to grow, driven by increasing prevalence and new treatment options, which can offset some of the revenue loss due to generic competition[1][3].
Competitive Landscape
Key Players
The migraine therapeutics market is highly competitive, with several key players including Amgen, Teva Pharmaceutical Industries Ltd, GlaxoSmithKline, Eli Lilly and Company, and Bausch Health. These companies are involved in various strategic activities such as product launches, approvals, and mergers and acquisitions to maintain their market position[1].
Recent Developments
Recent developments in the market include the approval and launch of new migraine treatments. For example, Lundbeck's VYEPTI (eptinezumab-jjmr) and Biohaven's NURTEC ODT (rimegepant) have been approved by the FDA for the preventive and acute treatment of migraines, respectively. These new treatments further intensify the competition in the market[1].
Regulatory Environment
FDA Approvals and Certifications
The regulatory environment plays a crucial role in the market dynamics of Axert. The FDA approval process, including the ANDA with Paragraph IV certification, allows generic manufacturers to enter the market. This process ensures that generic drugs meet the same safety and efficacy standards as the brand-name drugs, providing patients with affordable alternatives[4].
Patient and Market Trends
Increasing Prevalence and Awareness
The growing prevalence of migraines and increasing awareness about treatment options are driving the market growth. Telemedicine and remote consultations, personalized medicine approaches, and healthcare policy changes are also contributing to the expansion of the migraine therapeutics market[3].
Targeted Therapies and Digital Therapeutics
The market is shifting towards targeted therapies, such as CGRP receptor antagonists, and digital therapeutics. These advancements are improving treatment outcomes and patient satisfaction, further driving the market's financial trajectory[3].
Key Takeaways
- The global migraine therapeutics market is expected to grow significantly, driven by increasing prevalence and new treatment options.
- The launch of generic Axert has impacted the revenue of the brand-name drug but has also expanded access to migraine treatment.
- North America dominates the market, while Asia Pacific is the fastest-growing region.
- Key players are engaging in strategic activities to maintain market share.
- Regulatory approvals and certifications are crucial for market entry.
FAQs
What is Axert used for?
Axert (almotriptan malate) is used for the acute treatment of migraine attacks in adults.
Who launched the generic version of Axert in the United States?
Teva Pharmaceutical Industries Ltd. was the first to receive approval and launch the generic version of Axert in the United States.
How has the generic launch affected the brand-name Axert?
The generic launch has likely reduced the market share and revenue of the brand-name Axert due to the lower pricing of the generic version.
What is the current market size of the global migraine therapeutics market?
The global migraine therapeutics market is expected to reach USD 6.16 billion by 2024.
Which region is expected to be the fastest-growing in the migraine therapeutics market?
The Asia Pacific region is expected to be the fastest-growing in the migraine therapeutics market over the forecast period.
Sources
- Mordor Intelligence: Migraine Therapeutics Market Size & Share Analysis
- Antares Pharma, Inc.: FORM 10-K
- The Business Research Company: Migraine Drugs Market Report 2024, Research And Forecast
- Teva Pharmaceutical Industries Ltd.: Teva First to Receive Approval and Launch Generic Axert® Tablets in the United States
- Colorado Department of Health Care Policy and Financing: Drug Utilization Review Board Minutes, February 2024