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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 promising top-line results from the Phase 3 U-EXCEED study of upadacitinib for moderate to severe Crohn's disease. At week 12, 39% of patients achieved clinical remission via CDAI, and 40% showed remission via SF/AP, significantly outperforming the placebo (21% and 14%, respectively; p<0.0001). Endoscopic response was seen in 35% of the upadacitinib group versus 4% in placebo (p<0.0001). The safety profile remains consistent with previous studies, with common adverse events predominantly mild. Full data will be presented at medical conferences soon.
AbbVie has updated the U.S. prescribing information for RINVOQ (upadacitinib) for moderate to severe rheumatoid arthritis (RA) treatment. This follows an FDA Drug Safety Communication on Sept. 1, 2021, which flagged risks like malignancy and major adverse cardiac events (MACE) associated with JAK inhibitors. The updated label now emphasizes these risks in the warnings section. RINVOQ is now indicated for patients with an inadequate response or intolerance to TNF blockers. The FDA is also reviewing supplemental applications for RINVOQ for several additional conditions.
AbbVie has submitted an application to the European Medicines Agency (EMA) for risankizumab (SKYRIZI) as a treatment for moderate to severe active Crohn's disease in patients aged 16 and older. This application is based on results from three pivotal Phase 3 studies: ADVANCE, MOTIVATE, and FORTIFY, which demonstrated significant improvements in clinical remission and endoscopic response. No new safety risks were identified compared to the existing safety profile. Approval is still pending, and risankizumab's use for Crohn's disease has not yet been established by regulatory authorities.
AbbVie (NYSE: ABBV) will participate in the 4th Annual Evercore ISI Virtual HealthCONx Conference on December 2, 2021, at 11:10 a.m. CT. Key executives, including Michael Severino, Robert A. Michael, and Jeffrey R. Stewart, will present. A live audio webcast will be available on AbbVie’s Investor Relations website, with an archived edition accessible later that day. AbbVie aims to discover innovative medicines to address serious health issues across various therapeutic areas, including immunology and oncology.
AbbVie (NYSE: ABBV) will participate in the Piper Sandler 33rd Annual Virtual Healthcare Conference on December 1, 2021, at 9:30 a.m. CT. Key executives, including Michael Severino, Robert A. Michael, and Jeffrey R. Stewart, will present during the event. The presentation can be accessed via a live audio webcast on AbbVie's Investor Relations website, with an archived version available later that day. AbbVie is dedicated to discovering innovative treatments across various therapeutic areas, including immunology, oncology, and neuroscience.
On November 19, 2021, AbbVie announced that its Allergan Aesthetics division will present six abstracts at the virtual American Society for Dermatologic Surgery meeting from November 19-21. The presentations will highlight innovative findings on aesthetic treatments, particularly featuring BOTOX® Cosmetic. Two abstracts received recognition as 'Best of Cosmetic Oral Abstracts.' One of the sessions, led by Dr. Arisa Ortiz, will showcase the SkinMedica® TNS® Advanced+ Serum's efficacy in enhancing skin appearance. This meeting reinforces Allergan's commitment to advancing aesthetic medicine.
On November 18, 2021, AbbVie published a literature review in Advances in Therapy, outlining the economic benefits of achieving clinical remission in rheumatoid arthritis (RA). The review indicates that remission is linked to substantial cost savings: 19%-52% in direct medical costs and 37%-75% in indirect costs. Patients with sustained remission experience fewer disease flares and require less medical intervention. The findings emphasize the importance of treatment strategies aimed at reaching remission, as recommended by clinical guidelines. The review analyzed 16 studies from various countries, emphasizing the crucial role of remission in enhancing patient quality of life.
AbbVie announced that the European Commission has approved SKYRIZI® (risankizumab) for treating adults with active psoriatic arthritis who have not responded adequately to other treatments. This approval, based on Phase 3 clinical trials KEEPsAKE-1 and KEEPsAKE-2, marks the second indication for SKYRIZI in the EU. The studies reported significant improvements in patient outcomes, with 57.3% and 51.3% of participants achieving the primary efficacy endpoint at week 24, compared to placebo. The safety profile aligns with previous data, showing no new risks.
AbbVie has extended its collaboration with the University of Chicago through 2025 to bolster preclinical oncology research. This partnership has yielded insights into biomarkers and novel drug delivery strategies enhancing anti-tumor immune responses. The extension aims to further accelerate medical research in oncology, with AbbVie gaining exclusive licensing rights to certain discoveries. AbbVie emphasizes the collaboration's potential impact on public health and aims to leverage findings for developing innovative cancer therapies.
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