US biotech Intra-Cellular Therapies (Nasdaq: ITCI) saw its shares gain 6.3% to $48.20, after it revealed that the US Food and Drug Administration has approved Caplyta (lumateperone tosylate) for the treatment of depressive episodes associated with bipolar I or II disorder in adults, as monotherapy and as adjunctive therapy with lithium or valproate.
This adds to the drug’s approval two year ago for the treatment of schizophrenia. Sales so far this year reached $56.2 million, but analysts at BTIG see the added indication offering much more commercial potential.
Data and analytics company GlobalData notes that the MDD market in the eight leading markets (8MM: the USA, France, Germany, Italy, Spain, UK, Japan and China is expected to reach $7.87 billion by 2029, up from $3.39 billion in 2019, with eight new pipeline products set to address the unmet needs of a growing patient population.
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