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ABBVIE INC. - ABBV STOCK NEWS

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AbbVie Inc. (NYSE: ABBV), headquartered in North Chicago, Illinois, is a leading pharmaceutical company ranked 6th on the list of largest biomedical companies by revenue. Known for their commitment to delivering innovative medicines, AbbVie focuses on several key therapeutic areas including immunology, oncology, neuroscience, and eye care. Their portfolio also includes products and services in aesthetics through Allergan Aesthetics, a company they acquired in 2020.

AbbVie’s flagship product, Humira (adalimumab), generated $21 billion in revenue in 2022, accounting for 37% of the company's total revenues. Humira is approved for the treatment of various autoimmune diseases such as rheumatoid arthritis, Crohn's disease, plaque psoriasis, and ulcerative colitis. Beyond Humira, AbbVie has developed other notable immunology drugs, including Skyrizi and Rinvoq, which have shown strong market performance.

In the oncology sector, AbbVie markets Imbruvica and Venclexta, which are critical in treating hematological malignancies. The acquisition of Allergan also brought in new products in aesthetics, including Botox, which is not only a cosmetic treatment but also used therapeutically for various conditions.

AbbVie's research and development efforts are robust, with numerous clinical trials ongoing across its therapeutic areas. Recent achievements include positive topline results from the LEVEL UP study, which demonstrated the efficacy of Rinvoq in treating atopic dermatitis. Financially, AbbVie continues to perform well, reporting first-quarter 2024 revenues of $12.310 billion, a 0.7% increase from the previous year.

Strategic partnerships are also a cornerstone of AbbVie’s growth strategy. Recent collaborations include an agreement with Gilgamesh Pharmaceuticals to develop neuroplastogens for psychiatric disorders and a partnership with Landos Biopharma to enhance their immunology portfolio.

AbbVie remains focused on its mission to address serious health issues and improve patient outcomes globally, leveraging its comprehensive pipeline and innovative solutions in biomedical research.

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AbbVie announced that the FDA has approved QULIPTA® (atogepant) for the preventive treatment of chronic migraine in adults, making it the first and only oral CGRP receptor antagonist for this purpose.

This expanded indication offers a new treatment option for those suffering from chronic migraines, defined as experiencing headaches on 15 or more days per month.

The approval follows a Phase 3 clinical trial demonstrating a statistically significant reduction in average monthly migraine days and improvements in overall functioning.

AbbVie notably holds a competitive edge with three prescription treatments for migraine, including QULIPTA, BOTOX® (for chronic migraine), and UBRELVY® (for acute migraine attacks).

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AbbVie announced the European Commission's approval of RINVOQ (upadacitinib) as the first oral Janus Kinase (JAK) inhibitor for treating adults with moderately to severely active Crohn's disease. This marks the seventh approved indication for RINVOQ in the EU and the third for AbbVie's inflammatory bowel disease portfolio within a year. RINVOQ demonstrated significant efficacy in achieving clinical and endoscopic remission in clinical trials compared to placebo, with 35%-51% of patients achieving remission at 12 weeks. Safety data indicated results consistent with RINVOQ's known profile, with no new safety concerns reported. This approval may enhance AbbVie's market position in the ongoing treatment of inflammatory bowel diseases.

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AbbVie has announced the opening of applications for the AbbVie Cystic Fibrosis Scholarship for the 2023-2024 academic year. Eligible undergraduate and graduate students living with cystic fibrosis (CF) can apply until May 24, 2023, at 11:00 a.m. U.S. Eastern Time. The scholarship awards $3,000 each to 40 students for academic excellence and community involvement. Additionally, two students will be selected as the 2023 'Thriving Students', receiving $22,000 each, with winners determined partially by public voting. Since its inception, the program has invested over $3.8 million in scholarships to support the nearly 40,000 CF patients in the U.S. This initiative demonstrates AbbVie's commitment to supporting the CF community and alleviating their financial burdens.

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AbbVie (NYSE: ABBV) is set to announce its first-quarter 2023 financial results on April 27, 2023, before the market opens. A live webcast of the earnings conference call will take place at 8 a.m. CT and will be accessible via AbbVie’s Investor Relations website. This follows the company's mission to deliver innovative medicines addressing major health issues across various therapeutic areas, including immunology, oncology, and more. For more details, investors can visit investors.abbvie.com.

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Allergan Aesthetics, an AbbVie company (NYSE: ABBV), announces the launch of the inaugural CoolMonth in April 2023, promoting body contouring through a Buy 4, Get 4 deal on CoolSculpting® Elite treatments. A survey indicates that 85% of consumers consider body fat reduction seasonal, with 40% targeting spring. Throughout April, Allē members can redeem the offer and participate in CoolEvents at select providers. With over 17 million treatments performed and a patient satisfaction rate of 89.2% after two visits, CoolSculpting aims to help individuals achieve their desired body goals in time for summer.

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Allergan Aesthetics, a subsidiary of AbbVie (NYSE: ABBV), is set to unveil its 'Discover Your 360°' initiative at the Anti-Aging and Aesthetics Medicine World Congress (AMWC) in Monaco from March 30 to April 1, 2023. This customer-centric approach focuses on supporting practitioners in all aspects of their work with patients. The event will feature two expert-led symposia, live injection demonstrations, and discussions on key topics like aesthetic individuality and ethical practices. Notably, the Future of Aesthetics Global Trends Report will guide key themes in the presentations, emphasizing innovative patient consultation techniques.

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AbbVie announced the successful topline results from the Phase 2 SLEek trial of upadacitinib (RINVOQ), achieving the primary endpoint in patients with systemic lupus erythematosus (SLE). The trial met the SLE Responder Index (SRI-4) criteria with a steroid dosage of ≤10 mg prednisone equivalent after 24 weeks. The study included 341 participants across five treatment groups, and no new safety concerns were reported. AbbVie plans to advance upadacitinib into Phase 3 trials, highlighting its commitment to addressing unmet needs in SLE treatment.

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AbbVie announced positive results from the Phase 3 INSPIRE study for risankizumab (SKYRIZI), an IL-23 inhibitor for ulcerative colitis. At week 12, 20.3% of patients on risankizumab achieved clinical remission, compared to 6.2% on placebo (p<0.00001). All secondary endpoints, including endoscopic and histologic improvements, were met, with significant differences noted: 36.5% of risankizumab patients showed endoscopic improvement versus 12.1% for placebo. The safety profile was consistent with previous studies, with no new safety risks identified. The maintenance study for ulcerative colitis is ongoing, and the drug is currently not FDA-approved for this indication.

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AbbVie (NYSE: ABBV) announced on March 22, 2023, that it received a Complete Response Letter (CRL) from the FDA regarding its New Drug Application for ABBV-951 (foscarbidopa/foslevodopa) aimed at treating motor fluctuations in adults with advanced Parkinson's disease. The FDA's letter requests additional information about the delivery device but does not require further efficacy or safety trials for the drug. AbbVie plans to resubmit the NDA promptly. The application was based on a successful Phase 3 clinical trial showing significant improvement in patient outcomes compared to existing oral treatments.

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AbbVie announced positive results from a phase 3b study of SKYRIZI (risankizumab) for treating plaque psoriasis in patients with a prior suboptimal response to IL-17A inhibitors. At week 16, 56.3% of patients achieved significant symptom reduction, with 63.0% reaching clear or almost clear skin by week 52. Additionally, 26.2% reported complete skin clearance at week 52. No new safety concerns emerged during the study. This reinforces SKYRIZI's role for difficult-to-treat psoriasis, supporting ongoing research commitments from AbbVie.

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FAQ

What is the current stock price of ABBVIE (ABBV)?

The current stock price of ABBVIE (ABBV) is $166.57 as of November 19, 2024.

What is the market cap of ABBVIE (ABBV)?

The market cap of ABBVIE (ABBV) is approximately 294.4B.

What is AbbVie's primary product?

AbbVie's primary product is Humira (adalimumab), which generated $21 billion in revenue in 2022.

What are the key therapeutic areas AbbVie focuses on?

AbbVie focuses on immunology, oncology, neuroscience, and eye care.

What significant achievement did AbbVie report in their research efforts?

AbbVie reported positive results from the LEVEL UP study, demonstrating the efficacy of Rinvoq in treating atopic dermatitis.

Who are AbbVie's notable partners?

AbbVie has strategic partnerships with companies like Gilgamesh Pharmaceuticals and Landos Biopharma.

What are some of AbbVie's key oncology products?

Key oncology products include Imbruvica and Venclexta.

How did AbbVie perform financially in the first quarter of 2024?

AbbVie reported first-quarter 2024 revenues of $12.310 billion, a 0.7% increase from the previous year.

What products did AbbVie acquire through Allergan?

Through Allergan, AbbVie acquired products in aesthetics, including Botox.

What is AbbVie's mission?

AbbVie's mission is to discover and deliver innovative medicines that solve serious health issues and improve patients' lives globally.

What percentage of revenue did Humira contribute in 2022?

Humira contributed 37% of AbbVie's total revenues in 2022.

Where is AbbVie headquartered?

AbbVie is headquartered in North Chicago, Illinois.

ABBVIE INC.

NYSE:ABBV

ABBV Rankings

ABBV Stock Data

294.35B
1.77B
0.1%
73.43%
1.03%
Drug Manufacturers - General
Pharmaceutical Preparations
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United States of America
NORTH CHICAGO