Abbvie Inc Stock Price, News & Analysis

AbbVie has announced positive results from its Phase 3 ELEVATE study of atogepant, evaluating its effectiveness for preventing episodic migraines in patients who have previously failed multiple oral medications. The study showed a statistically significant reduction in mean monthly migraine days (MMDs) of 4.20 days for those taking atogepant 60 mg once daily, compared to a 1.85-day reduction in the placebo group (p<0.0001). This study included 309 participants, with 56% having failed two classes of preventive medications, and demonstrated that atogepant was well tolerated, consistent with its safety profile. The results will be presented at the American Academy of Neurology Annual Meeting on April 25, 2023.

AbbVie announced that the FDA has approved QULIPTA® (atogepant) for the preventive treatment of chronic migraine in adults, making it the first and only oral CGRP receptor antagonist for this purpose.

This expanded indication offers a new treatment option for those suffering from chronic migraines, defined as experiencing headaches on 15 or more days per month.

The approval follows a Phase 3 clinical trial demonstrating a statistically significant reduction in average monthly migraine days and improvements in overall functioning.

AbbVie notably holds a competitive edge with three prescription treatments for migraine, including QULIPTA, BOTOX® (for chronic migraine), and UBRELVY® (for acute migraine attacks).

AbbVie announced the European Commission's approval of RINVOQ (upadacitinib) as the first oral Janus Kinase (JAK) inhibitor for treating adults with moderately to severely active Crohn's disease. This marks the seventh approved indication for RINVOQ in the EU and the third for AbbVie's inflammatory bowel disease portfolio within a year. RINVOQ demonstrated significant efficacy in achieving clinical and endoscopic remission in clinical trials compared to placebo, with 35%-51% of patients achieving remission at 12 weeks. Safety data indicated results consistent with RINVOQ's known profile, with no new safety concerns reported. This approval may enhance AbbVie's market position in the ongoing treatment of inflammatory bowel diseases.

AbbVie has announced the opening of applications for the AbbVie Cystic Fibrosis Scholarship for the 2023-2024 academic year. Eligible undergraduate and graduate students living with cystic fibrosis (CF) can apply until May 24, 2023, at 11:00 a.m. U.S. Eastern Time. The scholarship awards $3,000 each to 40 students for academic excellence and community involvement. Additionally, two students will be selected as the 2023 'Thriving Students', receiving $22,000 each, with winners determined partially by public voting. Since its inception, the program has invested over $3.8 million in scholarships to support the nearly 40,000 CF patients in the U.S. This initiative demonstrates AbbVie's commitment to supporting the CF community and alleviating their financial burdens.

AbbVie (NYSE: ABBV) is set to announce its first-quarter 2023 financial results on April 27, 2023, before the market opens. A live webcast of the earnings conference call will take place at 8 a.m. CT and will be accessible via AbbVie’s Investor Relations website. This follows the company's mission to deliver innovative medicines addressing major health issues across various therapeutic areas, including immunology, oncology, and more. For more details, investors can visit investors.abbvie.com.

Allergan Aesthetics, an AbbVie company (NYSE: ABBV), announces the launch of the inaugural CoolMonth in April 2023, promoting body contouring through a Buy 4, Get 4 deal on CoolSculpting® Elite treatments. A survey indicates that 85% of consumers consider body fat reduction seasonal, with 40% targeting spring. Throughout April, Allē members can redeem the offer and participate in CoolEvents at select providers. With over 17 million treatments performed and a patient satisfaction rate of 89.2% after two visits, CoolSculpting aims to help individuals achieve their desired body goals in time for summer.

Allergan Aesthetics, a subsidiary of AbbVie (NYSE: ABBV), is set to unveil its 'Discover Your 360°' initiative at the Anti-Aging and Aesthetics Medicine World Congress (AMWC) in Monaco from March 30 to April 1, 2023. This customer-centric approach focuses on supporting practitioners in all aspects of their work with patients. The event will feature two expert-led symposia, live injection demonstrations, and discussions on key topics like aesthetic individuality and ethical practices. Notably, the Future of Aesthetics Global Trends Report will guide key themes in the presentations, emphasizing innovative patient consultation techniques.

AbbVie announced the successful topline results from the Phase 2 SLEek trial of upadacitinib (RINVOQ), achieving the primary endpoint in patients with systemic lupus erythematosus (SLE). The trial met the SLE Responder Index (SRI-4) criteria with a steroid dosage of ≤10 mg prednisone equivalent after 24 weeks. The study included 341 participants across five treatment groups, and no new safety concerns were reported. AbbVie plans to advance upadacitinib into Phase 3 trials, highlighting its commitment to addressing unmet needs in SLE treatment.