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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 (NYSE: ABBV) presented new analyses of its medication RINVOQ® (upadacitinib) for treating moderate to severe atopic dermatitis at the EADV Virtual Congress. Key findings include that over 61% of patients on RINVOQ 30 mg achieved EASI 75 at week 16 compared to 11% on placebo, irrespective of demographics. Additionally, RINVOQ demonstrated superior efficacy against dupilumab in four body regions at week 16. The safety profile remained consistent with previous studies, with acne as the most common adverse event.
AbbVie (NYSE: ABBV) announced FDA approval for QULIPTA™ (atogepant), the first oral CGRP receptor antagonist for preventing episodic migraines in adults. Supported by robust clinical data, QULIPTA demonstrated significant reductions in monthly migraine days and was well tolerated among nearly 2,000 patients in trials. It aims to alleviate the substantial disability caused by migraines, which affect over 39 million people in the U.S. QULIPTA will be available in October 2021, complementing AbbVie's migraine treatment portfolio.
AbbVie (NYSE: ABBV) announced it will present 27 abstracts at the 30th EADV Congress from September 29 to October 2, 2021. Highlights include analyses on RINVOQ (upadacitinib) for atopic dermatitis and new data on SKYRIZI (risankizumab) for psoriasis and psoriatic arthritis. Key findings will come from Phase 3 trials, including a head-to-head study of RINVOQ vs. dupilumab, showcasing safety and efficacy. This reinforces AbbVie's commitment to enhancing care for chronic inflammatory diseases.
AbbVie announced the submission of an application to the FDA for risankizumab-rzaa, a new treatment for moderate to severe Crohn's disease in patients aged 16 and older. This drug, an IL-23 inhibitor, is backed by data from three Phase 3 trials: ADVANCE, MOTIVATE, and FORTIFY. In these studies, patients treated with risankizumab-rzaa showed significantly greater clinical remission and endoscopic response compared to placebo. The therapy aims to address the unmet need for lasting remission in Crohn's patients, as highlighted by AbbVie’s senior VP of 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.
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