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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 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.
Genmab A/S (NASDAQ: GMAB) announced that the FDA has granted orphan-drug designation to epcoritamab (DuoBody®-CD3xCD20) for treating follicular lymphoma (FL). This designation aids the development of treatments for rare diseases affecting fewer than 200,000 people annually. FL is the second most common form of non-Hodgkin’s lymphoma, impacting approximately 2.7 per 100,000 people in the U.S. Epcoritamab is currently in multiple clinical trials, providing hope for patients who are refractory to conventional therapies.
AbbVie (NYSE: ABBV) will participate in the Cowen 42nd Annual Health Care Conference on March 8, 2021, presenting virtually at 11:50 a.m. Central Time. Key executives include Robert A. Michael, Michael E. Severino, M.D., and Jeffrey R. Stewart. A live audio webcast will be available on AbbVie's Investor Relations website, with an archived edition accessible later that day. AbbVie focuses on innovative medicines across various therapeutic areas, including immunology, oncology, and neuroscience, aimed at addressing serious health challenges.
AbbVie (NYSE: ABBV) has successfully completed the acquisition of Syndesi Therapeutics for an upfront payment of $130 million, with potential milestone payments up to $870 million. This strategic move enhances AbbVie's neuroscience portfolio, particularly focusing on the development of the lead molecule SDI-118, aimed at treating cognitive impairments linked to neuropsychiatric disorders and neurodegenerative diseases. SDI-118 is currently undergoing Phase 1b clinical trials, targeting synaptic efficiency to address unmet medical needs in patients.
AbbVie has announced that the FDA has extended its review of SKYRIZI (risankizumab-rzaa) for treating moderate to severe Crohn's disease by three months. This extension is to assess additional data concerning the on-body injector for this new indication. Previously, SKYRIZI was approved for treating moderate to severe plaque psoriasis and active psoriatic arthritis. This ongoing FDA review does not affect existing approved indications.
On February 28, 2022, AbbVie announced the submission of a supplemental New Drug Application (sNDA) to the FDA for IMBRUVICA (ibrutinib) to treat pediatric patients aged one year and older with chronic graft versus host disease (cGVHD). A New Drug Application for an oral suspension formulation was also submitted, aiming to provide a more suitable dosage form for younger patients. The iMAGINE clinical trial, which included 59 participants, showed an overall response rate of 78%. If approved, it would be the first FDA-approved treatment option for pediatric cGVHD.
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