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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.
AbbVie announced the launch of a new documentary titled "Under My Skin: Untold Stories of Life with Eczema," which debuted at SXSW 2023 in Austin, Texas. The film aims to highlight the physical and emotional struggles of individuals living with eczema, a chronic skin disease affecting over 31 million Americans. Directed by Redglass Pictures, the documentary presents real-life stories to inspire viewers to seek help. It will be available for U.S. audiences to stream on The Roku Channel starting April 1, 2023. The initiative reflects AbbVie’s commitment to supporting the eczema community and raising awareness about the disease's deeper impacts.
AbbVie (NYSE: ABBV) will present over 20 abstracts at the 2023 American Academy of Dermatology Annual Meeting from March 17-21 in New Orleans. The highlights include a late-breaking presentation on the long-term efficacy and safety of risankizumab in moderate to severe plaque psoriasis, with over 256 weeks of follow-up data. AbbVie emphasizes its commitment to improving outcomes for patients with immune-mediated skin conditions, showcasing research on psoriatic disease, atopic dermatitis, and hidradenitis suppurativa. These presentations reflect AbbVie's strong investment in its dermatology portfolio.
On March 8, 2023, Allergan Aesthetics, part of AbbVie (NYSE: ABBV), announced a partnership with IFundWomen to support women entrepreneurs on International Women's Day. The initiative provides 20 grants of
AbbVie (NYSE: ABBV) will present at the Barclays Global Healthcare Conference on March 15, 2023, at 12:35 p.m. Central time. Key executives including Robert A. Michael and Scott Reents will be featured in the presentation. A live audio webcast will be available on AbbVie's Investor Relations website, with an archived version accessible later the same day. AbbVie is focused on innovative therapies across multiple therapeutic areas, such as immunology and oncology. For more details, visit www.abbvie.com.
AbbVie (NYSE: ABBV) will present at the Cowen 43rd Annual Health Care Conference on March 7, 2023, at 8:10 a.m. Central time. Key executives, including Robert A. Michael, Scott Reents, Jeffrey R. Stewart, and Roopal Thakkar, will participate in the event. Investors can access a live audio webcast on AbbVie's Investor Relations website, with an archived version available later that day.
AbbVie aims to develop innovative medicines across various therapeutic areas, including immunology, oncology, neuroscience, and others. For more information, visit www.abbvie.com.
AbbVie will showcase 24 abstracts related to inflammatory bowel diseases (IBD) at the 18th ECCO Congress from March 1-4, 2023, in Copenhagen, Denmark. This includes six oral presentations focusing on SKYRIZI® (risankizumab) for Crohn's disease and RINVOQ® (upadacitinib) for ulcerative colitis. Notable presentations will cover efficacy outcomes and clinical responses from multiple studies, including ADVANCE, MOTIVATE, and FORTIFY. AbbVie emphasizes its commitment to advancing treatment options for IBD patients, with crucial analyses set to impact standards of care.
AbbVie announced a positive recommendation from the European Medicines Agency's CHMP for upadacitinib (RINVOQ) to treat adults with moderately to severely active Crohn's disease. This recommendation is based on results from two induction studies and one maintenance study, which showed significant improvements in clinical remission and endoscopic response compared to placebo. If approved by the European Commission, this will be the seventh indication for upadacitinib in the EU and the first JAK inhibitor for Crohn's disease. Upadacitinib's safety profile was consistent with previous findings, with no new significant risks identified.
AbbVie (NYSE: ABBV) has expanded its strategic collaboration with Capsida Biotherapeutics to develop genetic medicines targeting eye diseases. This collaboration enhances their existing partnership from 2021 focused on neurodegenerative diseases. Under the agreement, Capsida will receive $70 million which includes upfront payments and a potential equity investment. Capsida could earn up to $595 million in additional option fees and research milestones, along with royalties on future product sales. The partnership aims to leverage AbbVie's drug development expertise and Capsida's AAV engineering capabilities to advance three therapeutic programs.
The board of directors of AbbVie (NYSE: ABBV) has declared a quarterly cash dividend of $1.48 per share, payable on May 15, 2023, to stockholders of record by the close of business on April 14, 2023.
Since its inception in 2013, AbbVie has increased its dividend by over 270% and is recognized as a member of the S&P Dividend Aristocrats Index, which includes companies that have consistently raised dividends for at least 25 consecutive years.
AbbVie (NYSE: ABBV) reported full-year diluted EPS of $6.63, a 2.8% increase, and adjusted diluted EPS of $13.77, up 16.4%. Net revenues reached $58.054 billion, a 3.3% increase. Immunology portfolio revenues soared by 14.4%, totaling $28.924 billion, with Humira revenues at $21.237 billion. In contrast, hematologic oncology revenues fell 9.0% to $6.577 billion. For Q4, diluted EPS was $1.38, down 38.9%, while adjusted EPS rose 16.9% to $3.60. The company projects 2023 adjusted EPS guidance between $10.70 and $11.10, not accounting for acquired IPR&D expenses. AbbVie continues to enhance its portfolio and pipeline, including a major approval for Skyrizi in Crohn's disease.
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