CHICAGO (Reuters) – Allergan Inc said on Thursday that its popular Botox wrinkle-smoother worked as a treatment for adults suffering from chronic migraines, according to late-stage clinical data.
Shares of Allergan rose nearly 13 percent as the broad market stumbled.
Botox, or botulinum toxin type A, is the first therapy being investigated for chronic migraine, which affects an estimated 1.2 million to 3.6 million people in the United States, according to the company.
The Irvine, California-based company, which also makes breast implants and eye care products, said data from its phase III clinical trials showed a significantly greater decrease in headache days among patients receiving Botox, compared with those receiving a placebo. The treatment was well tolerated in patients suffering from chronic migraine, it said.
Based on this top-line analysis of its studies, Allergan hopes to file a supplemental biologics license application with the U.S. Food and Drug Administration for the use of Botox in chronic migraine by mid-2009.
The company expects full data results to be published or presented by mid-2009.
Allergan shares were up $7, or 12.8 percent, at $61.58 in morning New York Stock Exchange trade.
(Reporting by Debra Sherman; Editing by Lisa Von Ahn)