Actavis plc ACT announced that the FDA approved a lower dose (20 mg) of its depression drug, Viibryd. We note that Viibryd (40 mg) was approved in Jan 2011 as the first and only selective serotonin reuptake inhibitor and 5-HT1A receptor partial agonist for the treatment of adults suffering from major depressive disorder (MDD).
According to the press release issued by the company, MDD is estimated to affect 16 million people in the U.S. (approximately 7% of the adult population) in any given year.
We remind investors that Viibryd became a part of Actavis’ portfolio through its acquisition of Forest Laboratories in 2014.
We are pleased with Actavis’ progress with its branded product portfolio, following its acquisition of Forest. Last week, the FDA expanded the existing indication for Saphris. The drug can now be used as a monotherapy for acute manic or mixed episodes associated with bipolar I disorder in pediatric patients (aged 10 – 17 years). Earlier, the drug was approved for treating bipolar I disorder and schizophrenia in adult patients.
Actavis has for some time been working on expanding its branded business through acquisitions, which include the Durata Therapeutics deal completed in Nov 2014 (to boost its infectious disease portfolio) among others.
Meanwhile, Actavis is on the verge of closing the pending acquisition of Allergan AGN. Actavis, which was previously known for its strong presence in the generics market, will find itself in the company of the top 10 pharmaceutical companies across the world based on sales. The company intends to adopt Allergan as its corporate name once the acquisition is completed.
Actavis currently carries a Zacks Rank #2 (Buy). Other favorably ranked stocks in the health care sector include Akorn, Inc. AKRX and Progenics Pharmaceuticals, Inc. PGNX. Both hold a Zacks Rank #1 (Strong Buy).
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