Will a Migraine Drug Save This Debt-Ridden Giant?

Teva Pharmaceutical Industries (NYSE: TEVA) has been plagued by material declines in its core portfolio due to patent expirations, opioid litigation, and price erosion of generic drugs. Will a new growth catalyst signal a turnaround for the company's falling sales?

In 2018, Teva's Ajovy was approved by the Food and Drug Administration as a subcutaneous injection for the treatment of migraine headaches. This was Teva's only branded product approval in the past two years, and expectations have been running high.