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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 positive results from the Phase 3 VIRGO trial, evaluating the investigational twice-daily administration of VUITY, an eye drop for presbyopia. The study demonstrated significant improvement in near vision without compromising distance vision. A total of 230 participants were involved, with results indicating that participants gained three lines or more in near visual acuity at Day 14. These findings will support a supplemental New Drug Application to the FDA in Q2 2022. While VUITY is FDA-approved for once-daily use, twice-daily administration is not yet approved.
Allergan Aesthetics, part of AbbVie (NYSE: ABBV), has entered a groundbreaking partnership with Resorts World Las Vegas to become the preferred aesthetics and rewards partner at the resort. This multiyear agreement grants Allergan exclusive branding rights to the Allē Lounge on 66 and the Allē Backstage space at the Resorts World Theatre. The partnership aims to enhance consumer engagement and introduce millions of visitors to Allergan’s product portfolio. This marks Allergan's first branding of a dedicated area at a major resort.
AbbVie (NYSE: ABBV) will present 30 abstracts at the 2022 American Academy of Neurology Annual Meeting, showcasing its leadership in neuroscience. Key highlights include ongoing research on migraine treatments, particularly the newest migraine medicine, atogepant (QULIPTA™), and advancements in therapies for advanced Parkinson's disease. Notable studies will also focus on spasticity and cervical dystonia with data on onabotulinumtoxinA (BOTOX®). The meeting will take place in Seattle from April 2-7, 2022, with virtual presentations from April 24-26.
AbbVie and Allergan Aesthetics will present 12 abstracts and two late-breaking presentations at the 2022 AAD Annual Meeting, showcasing their commitment to dermatologic research. Key highlights include new findings on RINVOQ® and SKYRIZI® in treating atopic dermatitis and psoriasis. Notably, a post-hoc analysis indicates RINVOQ's superior efficacy compared to DUPIXENT® in moderate to severe atopic dermatitis. Allergan will introduce a novel hydrating serum and present data on HA injectable gel for jawline definition. These presentations emphasize the companies' dedication to enhancing patient care in dermatology.
AbbVie announced that the FDA approved RINVOQ (upadacitinib) for treating adults with moderately to severely active ulcerative colitis (UC) who have not adequately responded to TNF blockers. This indicates AbbVie's expansion into gastroenterology with RINVOQ now approved for four indications. In clinical trials, RINVOQ showed higher rates of clinical remission and response, achieving significant outcomes at weeks 8 and 52 compared to placebo. The treatment may cause serious side effects, including infections and cardiovascular risks, warranting careful patient monitoring.
AbbVie announced that LASTACAFT (alcaftadine ophthalmic solution 0.25%) is now available over-the-counter, previously requiring a prescription. This antihistamine eye drop provides relief from itchy allergy eyes caused by seasonal and year-round allergens, working within three minutes and lasting for 16 hours. With an estimated 40% of Americans affected by ocular allergies, this move expands AbbVie's retail eye drop portfolio, alongside the REFRESH product line. LASTACAFT is available in a 5 mL bottle with a 60-day supply or a twin pack for 120 days, enhancing accessibility for allergy sufferers.
AbbVie and Scripps Research have announced a global collaboration to develop new antiviral treatments for COVID-19, aimed at addressing the evolving needs due to new virus variants. The partnership leverages Scripps' expertise and resources, with initial funding support from the Bill & Melinda Gates Foundation. This initiative represents AbbVie's commitment to enhancing access to innovative oral antiviral treatments. The collaboration's success hinges on regulatory approvals and customary closing conditions.
AbbVie and Gedeon Richter have announced a new collaboration to develop novel dopamine receptor modulators targeting neuropsychiatric diseases. This partnership, extending their 15-year relationship, involves shared R&D financing and includes preclinical efforts for new chemical entities. AbbVie will maintain global commercialization rights, with Richter receiving an upfront payment and potential milestone payments. The deal is expected to close in Q2 2022, pending regulatory approvals. This collaboration aims to enhance treatment options for patients with complex neuropsychiatric conditions.
AbbVie announced that the Phase 3 PROGRESS trial for atogepant (QULIPTA™) met its primary endpoint, showing significant reductions in mean monthly migraine days in adults compared to placebo. Patients receiving 60 mg once daily or 30 mg twice daily reported decreases of 6.88 and 7.46 days, respectively. The trial included 778 patients and demonstrated significant improvements across all secondary endpoints. AbbVie plans to submit a supplemental New Drug Application to expand atogepant's use for chronic migraine prevention in the U.S. Safety profiles were consistent with prior studies, with the most common side effects being constipation and nausea.
AbbVie has successfully resolved all patent litigation in the U.S. regarding its HUMIRA (adalimumab) product with Alvotech. Starting July 1, 2023, AbbVie will grant Alvotech a non-exclusive license for HUMIRA-related patents, with Alvotech agreeing to pay royalties. No payments will be made from AbbVie to Alvotech, and the litigation has been dismissed, affirming the validity of AbbVie's patents. This resolution marks a significant milestone in AbbVie's litigation strategy concerning HUMIRA.
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