Industry Trend Analysis - Adamas' Gocovri Will Face Competition From Generic Amantadine - OCT 2017
BMI View: Adamas Pharmaceuticals ' Gocovri will address an unmet need in the management of Parkinson ' s disease and has further potential in multiple sclerosis. Risks include the company's ability to launch Gocovri effectively and the availability of cheaper generic amantadi ne .
As anticipated by BMI ( see ' H217 CNS Drug Decisions Will Focus On New Delivery/Dosing Options ' , July 18 2017), the FDA has approved Adamas Pharmaceuticals' Gocovri (amantadine) extended release capsules (previously ADS-5102) for treatment of dyskinesia in patients with Parkinson's disease receiving levodopa-based therapy, with or without concomitant dopaminergic medications. Gocovri, previously granted orphan drug status by the FDA, is the first and currently only medicine approved by the Agency for this indication. It is expected to be available in Q417, and formally launched with the full deployment of Adamas' sales force in January 2018.
Following this news, Adamas' share price soared, closing at USD19.93 on August 25 2017, a 40% increase versus the previous day's closing value of USD14.23.
|Adamas Soars On FDA Approval|
|Relative Share Price Versus Nasdaq Biotechnology Index|
|Source: Bloomberg, BMI|