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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 has submitted applications to the FDA and EMA for upadacitinib (15 mg, 30 mg, and 45 mg) for treating adults with moderately to severely active ulcerative colitis. These submissions are based on positive results from two Phase 3 induction studies and one maintenance study, where upadacitinib showed significant improvement in clinical remission compared to placebo. Additionally, the safety profile was consistent with existing data, with no new risks identified. This treatment could provide a new option for patients who have not responded adequately to current therapies.
AbbVie and REGENXBIO announced a partnership to develop RGX-314, a gene therapy for wet age-related macular degeneration (AMD) and diabetic retinopathy (DR). REGENXBIO will complete ongoing trials, while AbbVie leads global development and commercialization. AbbVie will pay REGENXBIO $370 million upfront, with potential total payments of up to $1.38 billion based on milestones. They will share profits from U.S. sales equally, with AbbVie paying tiered royalties internationally. The deal is expected to close by the end of 2021, contingent on regulatory approvals.
AbbVie Inc. (NYSE: ABBV) has declared a quarterly cash dividend of $1.30 per share, payable on November 15, 2021, to stockholders of record by October 15, 2021. Since its inception in 2013, AbbVie has increased its dividend by 225% and is recognized as a member of the S&P Dividend Aristocrats Index, highlighting its commitment to consistent annual dividend increases over at least 25 consecutive years.
AbbVie (NYSE: ABBV) will showcase over 20 abstracts from its neuroscience portfolio at the MDS Virtual Congress 2021, scheduled for September 17-22. This includes long-term data on DUODOPA® for advanced Parkinson's disease and BOTOX® for spasticity and cervical dystonia. The research aims to address unmet needs in movement disorders, enhancing standards of care. The data will be accessible as virtual e-posters starting September 10, with a focus on real-world effectiveness and comparative studies related to patient outcomes.
AbbVie will participate in the Morgan Stanley Virtual 19th Annual Global Healthcare Conference on September 15, 2021, at 9:15 a.m. Central time. Key executives including Richard A. Gonzalez and Michael Severino will be presenting.
A live audio webcast will be available on AbbVie's Investor Relations website, with an archived version accessible later that day. AbbVie focuses on developing innovative medicines in areas such as immunology, oncology, and neuroscience, emphasizing impactful health solutions.
Genmab (Nasdaq: GMAB) and AbbVie (NYSE: ABBV) announced the publication of results from the phase 1/2 EPCORE™ NHL-1 clinical trial in The Lancet. The trial evaluated the investigational therapy epcoritamab for B-cell non-Hodgkin’s lymphoma (B-NHL). Findings indicate a maximum tolerated dose of 48mg, with an overall response rate (ORR) of 88% and a complete response (CR) of 38% in patients treated with the RP2D. The results were presented at multiple medical congresses, highlighting the drug's potential in hematologic malignancies.
AbbVie and Genmab announced the publication of results from the dose escalation part of the Phase 1/2 EPCORE NHL-1 trial for epcoritamab, an investigational therapy targeting relapsed/refractory B-cell non-Hodgkin's lymphoma. The trial identified a recommended Phase 2 dose of 48mg with an overall response rate of 88% and a complete response rate of 38% in patients with DLBCL. Epcoritamab demonstrated a favorable safety profile, with common adverse events being primarily grade 1-2. The results underline significant interest in new treatment options for patients with hematologic malignancies.
AbbVie (NYSE: ABBV) announced the presentation of data from its migraine portfolio at the International Headache Congress 2021 from September 8-12. The company will share 23 abstracts, including clinical findings on atogepant, an investigational CGRP receptor antagonist for preventive migraine treatment. Key studies include a 40-week evaluation of atogepant's safety and efficacy, and real-world data on ubrogepant for acute migraine treatment. AbbVie aims to further advance its commitment to migraine research and improve patient outcomes.
On August 24, 2021, the European Commission approved RINVOQ (upadacitinib), a selective JAK inhibitor, for treating moderate to severe atopic dermatitis in patients aged 12 and older. The recommended doses are 15 mg or 30 mg daily for adults and 15 mg daily for adolescents. This approval follows robust Phase 3 clinical trials involving over 2,500 participants, which demonstrated a significant reduction in eczema symptoms. RINVOQ is already approved in several countries and is under review in the U.S. The treatment option aims to improve the quality of life for affected individuals.
AbbVie announced that the New England Journal of Medicine published results from the Phase 3 ADVANCE trial of atogepant for preventing migraines in adults with episodic migraine. The study showed all dose groups (10 mg, 30 mg, 60 mg) significantly reduced mean monthly migraine days compared to placebo, with reductions of 3.7, 3.9, and 4.2 days, respectively. Atogepant is under FDA review and aims to be the first oral treatment for episodic migraine prevention. The study included 910 patients and demonstrated significant efficacy across multiple endpoints.
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