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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.
Allergan Aesthetics, an AbbVie company (NYSE: ABBV), has launched the next phase of its 2024 BOTOX® Cosmetic grant program for women entrepreneurs. The program includes crowdfunding campaigns for 20 grant recipients, each awarded $25,000. Participants received training through a bootcamp led by BOTOX® Cosmetic and Deepica Mutyala, founder of Live Tinted, focusing on brand building, strategic planning, and marketing.
The initiative aims to address the funding gap for women-owned businesses, which receive less than 3% of venture capital funding. Grant recipients also gained access to coaching through a partnership with IFundWomen. The program builds on last year's success, where crowdfunding significantly boosted business growth for participants.
Supporters can contribute to the campaigns at IFundWomen.com/BOTOXCosmetic, with no minimum donation required. The initiative seeks to empower women entrepreneurs and close the "Confidence Gap" in business.
AbbVie (NYSE: ABBV) has received a positive opinion from the European Medicines Agency's Committee for Medicinal Products for Human Use (CHMP) for mirvetuximab soravtansine (ELAHERE®). This recommendation is for the treatment of adult patients with folate receptor alpha (FRα)-positive, platinum-resistant and high-grade serous epithelial ovarian, fallopian tube or primary peritoneal cancer who have received one to three prior treatment regimens.
The CHMP's opinion is based on results from the Phase 3 MIRASOL clinical trial. A European Commission decision on this indication is expected later this year. ELAHERE® received full FDA approval in the United States in March 2024, and marketing authorization submissions are under review in multiple other countries.
Allergan Aesthetics, an AbbVie company (NYSE: ABBV), has launched BOTOX® Cosmetic for treating masseter muscle prominence (MMP) in adults in China. This marks the first neurotoxin approved for MMP in China, the largest global market for this treatment. The approval is based on a robust safety profile and clinical trials demonstrating effectiveness in reducing masseter muscle prominence.
Key highlights:
- BOTOX® Cosmetic showed a 5.2mm greater average reduction in facial width compared to placebo
- Results typically lasted 6-9 months
- Improvements were seen in psychosocial impact, attractiveness, and confidence
- Treatment-emergent adverse events were mild to moderate
- 87.3% of study subjects identified as Asian
Allergan Aesthetics plans to expand BOTOX® Cosmetic use for MMP in additional global markets.
AbbVie (NYSE: ABBV) announced new data from its antibody-drug conjugate (ADC) platform to be presented at the European Society for Medical Oncology (ESMO) Congress 2024. Key highlights include:
1. PICCOLO trial: Mirvetuximab soravtansine showed a 51.9% objective response rate in platinum-sensitive ovarian cancer patients.
2. LUMINOSITY trial: Patient-reported outcomes for telisotuzumab vedotin (Teliso-V) in non-small cell lung cancer (NSCLC) patients.
3. Phase 1 study: ABBV-400 showed promising results in pre-treated NSCLC and gastroesophageal cancer patients.
AbbVie plans to submit Teliso-V for accelerated approval in Q3 2024 for previously treated c-Met overexpressing, EGFR wild-type non-squamous NSCLC.
AbbVie Inc. (NYSE: ABBV) has announced a quarterly cash dividend of $1.55 per share. The dividend will be payable on November 15, 2024, to stockholders of record as of October 15, 2024. Since its inception in 2013, AbbVie has increased its dividend by more than 285 percent. The company is a member of the S&P Dividend Aristocrats Index, which includes companies that have consistently increased their dividends for at least 25 consecutive years.
NImmune Biopharma has announced a research collaboration with BioTherapeutics, Inc. to advance precision medicines for inflammation and immunology. This partnership will provide NImmune access to BioTherapeutics' preclinical services, regulatory capabilities, and proprietary animal models of disease. The collaboration complements NImmune's existing partnership with NIMML Institute, creating a unique scientific ecosystem for drug development.
This ecosystem has already demonstrated success with the development of NX-13 and its acquisition by AbbVie, Inc. (NYSE: ABBV). The collaboration aims to accelerate the development of NImmune's immunoregulatory drug pipeline, leveraging BioTherapeutics' computational modeling and NIMML Institute's TITAN-X A.I.-powered precision medicine platform.
AbbVie (NYSE: ABBV) has announced the 2024-2025 recipients of its Immunology Scholarship, supporting 45 U.S. students living with chronic immune-mediated diseases. The scholarship, established in 2016, has benefited over 400 undergraduate and graduate students to date. Recipients are equally split among dermatology, gastroenterology, and rheumatology therapeutic areas.
The initiative aims to address the lower graduation rates among young adults with childhood-onset chronic illnesses by providing financial support and empowerment. Applicants are selected based on academic excellence, community leadership, essay submissions, and recommendation letters. The scholarship is open to students pursuing associate, bachelor's, master's, or doctorate degrees who are living with immune-mediated conditions.
SkinMedica®, a brand under Allergan Aesthetics (an AbbVie company, NYSE: ABBV), has launched its new HA5® Hydra Collagen Replenish + Restore Hydrator. This innovative product, designed for all skin types, features:
- Double the amount of hyaluronic acid compared to the original formula
- Hydra Collagen and Advanced VITISENSCE® Technology
- Up to 48 hours of hydration
- Support for the skin's natural moisture retention
The product can be complemented with an in-office DiamondGlow® facial using SkinMedica® HA5® Hydra Collagen Pro-Infusion Serum. Clinical studies show this combination results in skin appearing three times more radiant, hydrated, and visibly plumper after one use.
AbbVie (NYSE: ABBV) announced that the European Commission has granted conditional marketing authorization for TEPKINLY® (epcoritamab) as a monotherapy for treating adult patients with relapsed or refractory (R/R) follicular lymphoma (FL) after two or more lines of prior therapy. TEPKINLY is now the first and only subcutaneous T-cell engaging bispecific antibody approved to treat both R/R FL and R/R diffuse large B-cell lymphoma (DLBCL) in the European Union, European Economic Area countries, and Northern Ireland.
The approval is based on data from the Phase 1/2 EPCORE® NHL-1 clinical trial, which showed an overall response rate of 83% and a complete response rate of 63% in R/R FL patients treated with TEPKINLY. The median duration of response was 21.4 months. The safety profile was consistent with previous reports, with cytokine release syndrome being the most common adverse reaction.
AbbVie (NYSE: ABBV) has completed its acquisition of Cerevel Therapeutics (NASDAQ: CERE), strengthening its neuroscience portfolio. The acquisition brings multiple clinical-stage assets, including emraclidine, a potential best-in-class antipsychotic for schizophrenia, and tavapadon, a first-in-class treatment for Parkinson's disease. AbbVie expects the acquisition to be accretive to adjusted diluted EPS beginning in 2030.
The company reaffirms its 2024 full-year adjusted diluted EPS guidance range of $10.71-$10.91, which includes a $0.19 per share dilutive impact from the Cerevel acquisition. AbbVie also maintains its third-quarter adjusted diluted EPS guidance range of $2.92-$2.96. The acquisition is expected to contribute to AbbVie's long-term performance and complement its existing neuroscience pipeline.
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