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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 reported a first-quarter diluted EPS of $2.51, up 26.1% year-over-year, with an adjusted diluted EPS of $3.16, a 9.3% increase. Total net revenues reached $13.538 billion, a 4.1% rise. The immunology portfolio generated $6.141 billion, representing a 6.9% growth. Humira sales dropped 2.7%, reflecting biosimilar competition. The company updated its 2022 adjusted diluted EPS guidance to $13.92 - $14.12, accounting for an $0.08 unfavorable impact from acquired IPR&D. Overall, AbbVie emphasized strong performance across its growth drivers.
Allergan, part of AbbVie (NYSE: ABBV), announced presentations of new data on its eye care treatments, VUITY and DURYSTA, at the ARVO Annual Meeting in Denver from May 1-4, 2022. VUITY is the first FDA-approved eye drop for presbyopia, aiding near vision in adults, while DURYSTA is a biodegradable implant for glaucoma management. Presentations will highlight key research findings, including results from the GEMINI studies on VUITY and IOP control duration with DURYSTA. Approximately 128 million Americans are affected by presbyopia.
AbbVie and Plexium have announced a strategic partnership to develop Targeted Protein Degradation (TPD) therapeutics aimed at neurological conditions. This collaboration leverages AbbVie's neuroscience expertise and Plexium's innovative TPD technology platform. Plexium will handle preclinical research, receiving upfront payments and potential royalties upon commercialization. AbbVie will oversee global development and commercialization of the outcomes from this partnership. This venture is designed to tackle complex neurological diseases, expanding the capabilities of both companies in this challenging therapeutic area.
Dragonfly Therapeutics and AbbVie are expanding their collaboration to develop new drug candidates targeting autoimmune and fibrotic diseases using Dragonfly's TriNKET™ platform. AbbVie licensed its first TriNKET™ candidate in January 2021 as part of a multi-target collaboration that began in November 2019. Under the new agreement, AbbVie will pay an upfront fee, plus future milestone payments and royalties to Dragonfly for exclusive worldwide rights to multiple new candidates. Both companies aim to deliver innovative treatments to patients.
On April 19, 2022, Allergan, an AbbVie company (NYSE: ABBV), announced new data to be presented at the upcoming ASCRS Annual Meeting in Washington, D.C., from April 22-26, 2022. Key highlights include updates on VUITYTM, the first FDA-approved eye drop for presbyopia, and the XEN® Gel Stent for glaucoma management. Presentations will showcase data on VUITY's safety, efficacy, and usage in various populations, as well as analyses regarding the XEN® Gel Stent's effectiveness for refractory glaucoma. The commitment to innovation in eye care is emphasized by Michael R. Robinson, M.D.
AbbVie (NYSE: ABBV) will release its first-quarter 2022 financial results on April 29, 2022, before the market opens. A live webcast of the earnings conference call will take place at 8 a.m. CT, accessible via AbbVie's Investor Relations website. An archived edition will be available later that day. AbbVie aims to address serious health issues through innovative medicines across various therapeutic areas, including immunology, oncology, and virology. For more details, visit abbvie.com.
AbbVie and Genmab announced topline results from the EPCORE™ NHL-1 clinical trial for epcoritamab (DuoBody®-CD3xCD20), targeting relapsed/refractory large B-cell lymphoma (LBCL). The trial involved 157 patients with a confirmed overall response rate (ORR) of 63.1% and a median duration of response (DOR) of 12 months. Common adverse events included cytokine release syndrome (49.7%) and neutropenia (21.7%). The companies plan to engage global regulatory authorities and present data at a future medical conference.
Genmab (NASDAQ: GMAB) and AbbVie (NYSE: ABBV) announced positive topline results from the EPCORE™ NHL-1 clinical trial for epcoritamab, a bispecific antibody targeting large B-cell lymphoma (LBCL). The trial, involving 157 patients, demonstrated an overall response rate (ORR) of 63.1%, surpassing efficacy benchmarks, with a median duration of response (DOR) of 12 months. The companies will engage global regulatory authorities to determine next steps and plan to present detailed data at an upcoming medical meeting.
AbbVie has announced promising results from a Phase 2 trial of navitoclax combined with ruxolitinib for myelofibrosis, a challenging blood cancer. The exploratory analysis included 34 patients, with a 100% survival estimate for those showing grade improvement in bone marrow fibrosis after over two years. Importantly, 38% of patients had a significant improvement in fibrosis, while 23% showed a reduction in variant allele frequency. Presented at AACR 2022, these findings support ongoing Phase 3 studies and suggest navitoclax may enhance patient outcomes in myelofibrosis.
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