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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 has announced a strategic alliance with iSTAR Medical to develop and commercialize the MINIject® device, a minimally invasive glaucoma surgical device. This partnership aims to enhance AbbVie's eye care portfolio and improve treatment options for glaucoma patients. The agreement includes a $60M upfront payment to iSTAR Medical, which will continue its development until the completion of the STAR-V clinical study. AbbVie holds an exclusive right to acquire iSTAR Medical, with potential contingent payments of up to $475M based on certain milestones.
Genmab A/S (Nasdaq: GMAB) announced that AbbVie (NYSE: ABBV) will submit a conditional marketing authorization application (MAA) to the European Medicines Agency for epcoritamab to treat relapsed/refractory diffuse large B-cell lymphoma (DLBCL) in H2 2022. This follows Genmab's intention to submit a biologics license application (BLA) to the FDA for the same drug. The MAA is supported by preliminary efficacy results from the EPCORE™ NHL-1 trial, emphasizing the significant medical need for new treatment options for patients with DLBCL.
AbbVie has submitted a marketing authorization application (MAA) to the European Medicines Agency for atogepant, an oral calcitonin gene-related peptide (CGRP) receptor antagonist aimed at preventing migraines in adults experiencing at least four migraine days per month. This follows two pivotal Phase 3 studies indicating atogepant's efficacy; the ADVANCE trial showed significant reductions in mean monthly migraine days, while the PROGRESS study confirmed similar success for chronic migraine patients. If approved, atogepant would be the first daily oral CGRP receptor antagonist in Europe.
AbbVie (NYSE: ABBV) will announce its second-quarter 2022 financial results on July 29, 2022, before market opens. A live webcast of the earnings conference call will take place at 8 a.m. CT and will be accessible on AbbVie's Investor Relations website. An archived version will be available later that day. AbbVie aims to address serious health issues through innovative medicines across various therapeutic areas including immunology, oncology, and more.
AbbVie kicks off its seventh Week of Possibilities on June 27, 2022, engaging around 15,000 employees in global volunteer efforts spanning over 50 countries. This event, running from June 27 to July 1, aims to strengthen local communities through projects like renovating schools and playgrounds. Notable initiatives include creating STEM Labs and supporting Ukrainian refugees. The company's commitment to community service underscores its corporate citizenship, previously recognized as a top "Companies that Care" by Great Place to Work®.
AbbVie announced the positive opinion from the European Medicines Agency's CHMP for upadacitinib (RINVOQ) to treat adults with active non-radiographic axial spondyloarthritis (nr-axSpA). This decision is based on the successful results from the Phase 3 SELECT-AXIS 2 study, where RINVOQ met its primary endpoint of ASAS40 response at week 14 versus placebo. The European Commission's decision is anticipated in Q3 2022. Upadacitinib is currently approved for various conditions, but its use in nr-axSpA remains under review in both the EU and U.S.
AbbVie Inc. (NYSE: ABBV) has declared a quarterly cash dividend of $1.41 per share, payable on August 15, 2022, for stockholders of record by July 15, 2022. Since its inception in 2013, AbbVie has increased its dividend by over 250% and is part of the S&P Dividend Aristocrats Index, recognized for consistent annual dividend increases for over 25 years. This marks a continued commitment to returning value to shareholders while focusing on innovative therapeutic solutions.
AbbVie has submitted a supplemental New Drug Application (sNDA) for atogepant (QULIPTA) to the FDA, aiming to expand its indication for preventing chronic migraines in adults. This follows the pivotal Phase 3 PROGRESS trial, which demonstrated a statistically significant reduction in mean monthly migraine days compared to placebo. If approved, atogepant will be the first gepant available for chronic migraine treatment, positioning AbbVie as the only company with two preventive treatments for chronic migraines, alongside BOTOX.
Allergan Aesthetics, part of AbbVie, launched 'The Future of Aesthetics' global trends report to help the industry navigate evolving consumer needs. The report, developed with Wunderman Thompson Intelligence, involved extensive research and interviews with leading practitioners. It highlights a surge in dermal filler treatments, growing consumer diversity in aesthetics, and ten major trends expected to shape the industry over the next five years. Carrie Strom emphasized the importance of understanding these trends for future growth and innovation in aesthetics.
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