ABBVIE INC. - ABBV STOCK NEWS

AbbVie announced that its drug, upadacitinib (45 mg daily), achieved significant results in the Phase 3 U-ACCOMPLISH study for treating moderate to severe ulcerative colitis. 33% of patients reached clinical remission by week 8, compared to 4% on placebo (p<0.001). All primary and ranked secondary endpoints were met, demonstrating effective clinical response and endoscopic improvements. Common adverse events included acne and increased blood creatine phosphokinase, but no new safety risks were observed. Full results will be shared at a future meeting.

AbbVie (NYSE: ABBV), Evolus (NASDAQ: EOLS), and Medytox have settled all litigation related to Jeuveau®, resolving a case filed by Medytox against Evolus. Under the agreement, AbbVie and Medytox release claims against Evolus and allow the commercialization of Jeuveau® in the U.S. and Nuceiva™ elsewhere. Evolus will pay milestone and royalty fees and issue stock to Medytox. This settlement follows an ITC decision from December 16, 2020, that found misappropriation of Medytox's trade secrets but does not affect ongoing legal matters with Daewoong.

AbbVie (NYSE: ABBV) will participate in the Cowen 41st Annual Health Care Conference on March 3, 2021, at 10:40 a.m. CT. Key executives including Michael Severino, Robert A. Michael, and Jeffrey R. Stewart will present virtually. A live audio webcast will be available on AbbVie's Investor Relations website, with an archived version accessible later the same day.

AbbVie focuses on delivering innovative medicines across multiple therapeutic areas, including immunology, oncology, and neuroscience.

AbbVie declared a quarterly cash dividend of $1.30 per share, payable on May 14, 2021, to stockholders of record as of April 15, 2021. Since its inception in 2013, AbbVie has increased its dividend by 225%. The company is part of the S&P Dividend Aristocrats Index, recognizing firms that have consistently raised dividends for at least 25 years. AbbVie focuses on innovative therapeutics across various areas, including immunology and oncology.

AbbVie (NYSE: ABBV) will participate in the 10th Annual SVB Leerink Global Healthcare Conference on February 26, 2021. Key executives, including Michael Severino, Robert A. Michael, and Jeffrey R. Stewart, will present virtually at 9:40 a.m. CT. A live audio webcast will be available on AbbVie's Investor Relations website, with an archived session accessible later the same day. AbbVie focuses on developing innovative medicines across several therapeutic areas, including immunology, oncology, and neuroscience.

AbbVie and Caribou Biosciences have entered a multi-year collaboration to develop chimeric antigen receptor (CAR)-T cell therapies. Utilizing Caribou's CRISPR genome editing technology, AbbVie aims to create allogeneic, 'off-the-shelf' CAR-T therapies that can overcome immune rejection. The agreement includes a $40 million upfront payment to Caribou and potential milestone payments totaling $300 million. AbbVie will oversee clinical development, and has the option to expand the collaboration for additional CAR-T therapies.

The FDA has approved BOTOX^® (onabotulinumtoxinA) for treating detrusor overactivity due to neurological conditions in pediatric patients aged 5 and older. This marks the 12^th approval for BOTOX, enhancing its pediatric indications. The approval is based on a Phase 3 study involving over 100 children, demonstrating significant reductions in urinary incontinence episodes and improved bladder function. Common adverse effects include bacteriuria (20%) and urinary tract infections (7%). BOTOX now provides a crucial alternative for children unable to tolerate anticholinergics.

AbbVie reported significant financial results for Q4 2020, with worldwide net revenues reaching $13.858 billion, a 59.2% increase. Notably, the immunology portfolio generated $5.958 billion, and Humira net revenues were $5.152 billion. Adjusted diluted EPS stood at $2.92. The company expects strong performance in 2021, projecting GAAP diluted EPS between $6.69 and $6.89 and adjusted diluted EPS between $12.32 and $12.52. Recent approvals for Rinvoq and positive clinical trial results for Skyrizi bolster confidence in future growth.

On January 26, 2021, Allergan Aesthetics, a subsidiary of AbbVie (NYSE: ABBV), launched CoolSculpting® Elite, an advanced fat reduction system designed to target and eliminate visible fat bulges in nine areas of the body. This innovative system features new C-shaped applicators that provide a better fit and comfort, along with a larger cooling area for enhanced efficacy. The product is FDA-cleared for various treatment areas and aims to address consumer concerns about excess body fat as people transition back to in-person interactions.