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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 FDA approval for SKYRIZI (risankizumab-rzaa) as the first specific interleukin-23 (IL-23) inhibitor for moderately to severely active Crohn's disease in adults. Supported by data from three clinical trials, SKYRIZI showed significant improvement in clinical response and remission at various intervals. The treatment involves an initial intravenous infusion followed by subcutaneous injections. This approval marks a significant advancement in options for Crohn's disease patients, which affects daily life due to unpredictable symptoms.

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AbbVie reports positive results from the EPCORE NHL-1 phase 2 trial of epcoritamab for relapsed/refractory large B-cell lymphoma (LBCL). The study showed an overall response rate (ORR) of 63% with a complete response (CR) of 39%. Notably, CAR T-naïve patients had a 69% ORR and 42% CR. The safety profile was consistent with prior data, with most adverse effects occurring in the initial treatment phase. These findings were presented at the EHA's Presidential Symposium, highlighting a significant advancement in treatment options for LBCL.

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AbbVie announced preliminary data from the Phase 2 REFINE study, showing positive early results for navitoclax combined with ruxolitinib in treating JAK inhibitor naïve myelofibrosis (MF) patients. Data revealed a 63% spleen volume reduction of ≥35% at week 24. Additionally, 41% of evaluable patients reported a ≥50% reduction in symptom scores. No new safety signals were identified, though 97% of patients reported adverse events, with thrombocytopenia being the most common. These findings could support further exploration of navitoclax as a treatment to modify disease progression.

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AbbVie announced five-year follow-up results from the Phase 3 CLL14 trial, revealing that over 60% of patients with untreated chronic lymphocytic leukemia (CLL) who received a one-year treatment of venetoclax plus obinutuzumab maintained longer progression-free survival (PFS) compared to those treated with chlorambucil plus obinutuzumab. The median PFS was not reached for the venetoclax group versus 36.4 months for the chlorambucil group (p<0.0001). Moreover, 18.1% of patients treated with venetoclax showed undetectable minimal residual disease after four years, demonstrating the regimen's effectiveness in CLL treatment.

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AbbVie announced it will showcase data from its migraine portfolio at the 2022 AHS Annual Scientific Meeting in Denver, June 9-12. The highlights include findings from the Phase 3 PROGRESS trial for atogepant (QULIPTA) in preventing chronic migraine. This research may support a supplemental New Drug Application with the FDA to expand atogepant’s indication. AbbVie will also present data on ubrogepant (UBRELVY) and onabotulinumtoxinA (BOTOX), enhancing its commitment to treating migraine sufferers. A total of 29 abstracts will provide insights into ongoing research in migraine therapies.

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AbbVie announced positive outcomes from the Phase 3 SELECT-AXIS 2 trials of upadacitinib (RINVOQ) aimed at treating non-radiographic axial spondyloarthritis (nr-axSpA) and ankylosing spondylitis (AS) in patients with inadequate responses to existing therapies. Both studies met the primary endpoint, achieving the ASAS40 response at week 14—45% for nr-axSpA compared to 23% placebo, and 45% for AS compared to 18% placebo. Safety profiles remained consistent with previous studies, with no new risks identified. Regulatory applications to the FDA and EMA for nr-axSpA are ongoing.

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AbbVie announced that The Lancet published results from three pivotal Phase 3 trials of upadacitinib (RINVOQ) for treating moderately to severely active ulcerative colitis. The U-ACHIEVE (induction), U-ACCOMPLISH, and U-ACHIEVE (maintenance) studies demonstrated the efficacy and safety of upadacitinib in patients with inadequate responses to prior therapies. The studies focused on clinical remission and endoscopic improvement over 8 weeks and 52 weeks. While RINVOQ is not yet approved in the EU, it is currently under review by global health authorities.

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AbbVie (NYSE: ABBV) announced results from three pivotal Phase 3 clinical trials published in The Lancet, focusing on risankizumab (SKYRIZI) for treating moderately to severely active Crohn's disease. The ADVANCE and MOTIVATE studies evaluated induction therapy efficacy, while the FORTIFY study assessed maintenance therapy. Results showed significant improvements in clinical remission and endoscopic response. However, risankizumab's approval for Crohn's disease is pending, as safety and efficacy are under regulatory review.

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Genmab (Nasdaq: GMAB) announced the acceptance of multiple abstracts for presentation at the 2022 ASCO Annual Meeting, showcasing investigational medicines from its pipeline. Key highlights include data from the phase 1b/2 EPCORE™ NHL-2 trial evaluating epcoritamab (DuoBody-CD3xCD20) in B-cell non-Hodgkin lymphoma and an oral presentation of tisotumab vedotin in recurrent or metastatic cervical cancer. The findings reinforce Genmab's commitment to delivering innovative therapies, with partnerships alongside AbbVie (ABBV) and Seagen (SGEN).

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AbbVie (NYSE: ABBV) will participate in the Bernstein 38th Annual Strategic Decisions Conference on June 1, 2022, at 10:00 a.m. Central Time. Richard A. Gonzalez, chairman and CEO, will present. A live audio webcast will be available on AbbVie's Investor Relations website, with an archived version accessible later the same day.

AbbVie focuses on discovering and delivering innovative medicines across various therapeutic areas, including immunology, oncology, and neurology. For more information, visit www.abbvie.com.

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FAQ

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

The current stock price of ABBVIE (ABBV) is $175.17 as of January 10, 2025.

What is the market cap of ABBVIE (ABBV)?

The market cap of ABBVIE (ABBV) is approximately 309.5B.

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

309.55B
1.77B
0.1%
73.43%
1.05%
Drug Manufacturers - General
Pharmaceutical Preparations
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United States of America
NORTH CHICAGO