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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 presented late-breaking data from two Phase 3 studies, ADVANCE and MOTIVATE, at the DDW 2021 Conference, showcasing the efficacy of investigational drug risankizumab in treating moderately to severely active Crohn's disease. Patients receiving 600 mg or 1200 mg of risankizumab demonstrated significantly higher rates of clinical remission and endoscopic response compared to placebo, with p-values <0.001. The safety profile was consistent with previous trials, showing lower rates of serious adverse events compared to placebo. Results are submitted for publication, with ongoing studies for maintenance therapy.
On May 24, 2021, AbbVie announced that The Lancet published primary analysis results from pivotal Phase 3 clinical trials (Measure Up 1, Measure Up 2, and AD Up) assessing RINVOQ (upadacitinib) for treating moderate to severe atopic dermatitis in adults and adolescents. The studies demonstrated that RINVOQ met all primary and secondary endpoints, showcasing its efficacy and safety when compared to placebo. The results indicate potential advancements in treatment options for atopic dermatitis, affecting a significant percentage of the population.
AbbVie will participate in the UBS Global Healthcare Virtual Conference on May 25, 2021, at 11:00 a.m. Central time. Key executives participating include Michael Severino, Robert A. Michael, and Jeffrey R. Stewart. A live audio webcast will be available on AbbVie’s Investor Relations website, with an archived version accessible later the same day. AbbVie is dedicated to developing innovative medicines across various therapeutic areas such as immunology, oncology, and neuroscience.
AbbVie (NYSE: ABBV) will present results from 43 abstracts across 12 cancers at the ASCO Annual Meeting (June 4-8) and EHA Congress (June 9-17). Key presentations include data on the CAPTIVATE study concerning chronic lymphocytic leukemia (CLL) patients treated with an ibrutinib and venetoclax combination. Notable highlights include long-term data from various trials such as CLL14 and MURANO. These presentations aim to advance blood cancer treatment and showcase AbbVie's expanding oncology portfolio, reflecting its commitment to improving patient outcomes.
AbbVie (NYSE: ABBV) will present at the RBC Capital Markets Global Healthcare Conference on May 18, 2021, at 3:50 p.m. Central time. Key executives, including Michael Severino, Robert A. Michael, and Jeffrey R. Stewart, will participate in the virtual event. A live audio webcast will be available on AbbVie's Investor Relations website, with an archived version accessible later that day. AbbVie focuses on innovative medicines in immunology, oncology, neuroscience, and more.
Allergan Aesthetics, a division of AbbVie (NYSE: ABBV), announced the acquisition of Soliton (NASDAQ: SOLY) for $22.60 per share, valuing the deal at approximately $550 million. The acquisition includes Soliton's FDA-cleared RESONIC™ device, which offers a non-invasive treatment for cellulite. This technology enhances Allergan’s body contouring portfolio, complementing its existing products like CoolSculpting®. The transaction is subject to regulatory approvals and shareholder consent.
Allergan Aesthetics, a subsidiary of AbbVie (NYSE: ABBV), has announced an agreement to acquire Soliton (NASDAQ: SOLY) for $22.60 per share in cash, valuing the transaction at approximately $550 million. This acquisition aims to enhance Allergan's portfolio with Soliton's RESONICTM device, which has received FDA 510(k) clearance as a non-invasive cellulite treatment. The deal, approved by both companies' boards, is subject to customary closing conditions. Allergan's established market presence is expected to maximize the commercial potential of Soliton's technology.
AbbVie reported strong first-quarter results for 2021, with worldwide GAAP net revenues of $13.010 billion, up 51%. Adjusted net revenues increased 5.2% to $12.935 billion. The immunology portfolio contributed $5.744 billion. Notable products include Humira with revenues of $4.867 billion, and Skyrizi at $574 million. AbbVie anticipates multiple product approvals in 2021, raising full-year GAAP diluted EPS guidance to $6.89-$7.47 and adjusted EPS to $12.37-$12.57.
Allergan, a subsidiary of AbbVie (NYSE: ABBV), will present new data on its eye care portfolio at the 2021 ARVO Annual Virtual Meeting from May 1-7. This includes patient-reported outcomes for AGN-190584, an investigational treatment for presbyopia, for which a New Drug Application has been submitted to the FDA. Key presentations will cover the effectiveness of DURYSTA™ in lowering intraocular pressure and real-world data from the multicenter EXPAND study involving the XEN® Gel Stent. The meeting will showcase advancements in treating challenging eye conditions.
AbbVie (NYSE: ABBV) received a positive opinion from the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency for VENCLYXTO® (venetoclax) combined with hypomethylating agents to treat adults with newly diagnosed acute myeloid leukemia (AML) ineligible for intensive chemotherapy. This recommendation supports AbbVie’s mission to enhance treatment options for patients facing this aggressive cancer. The final decision from the European Commission is anticipated in the first half of 2021, following promising trial results indicating improved survival rates.
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