Teva Pharmaceutical Industries Ltd. won U.S. regulatory approval to sell a new treatment for migraines, a key part of the company’s turnaround strategy. The U.S. Food and Drug Administration approved Ajovy, an injection administered every few months to relieve migraines in adults, the Israeli drug maker said in a statement late Friday. More than 36 million people in the U.S. suffer from these debilitating episodes, and the medicine could generate around $500 million of sales by 2022, according to analyst estimates compiled by Bloomberg. Ajovy’s launch could help Teva, the world’s largest generic drug maker, eventually replace declining sales of Copaxone, its aging star product.
