Welcome to our dedicated page for Abbvie news (Ticker: ABBV), a resource for investors and traders seeking the latest updates and insights on Abbvie stock.
AbbVie Inc. reports pharmaceutical developments across immunology, neuroscience, oncology and Allergan Aesthetics. Recurring updates include financial results by product portfolio, clinical and real-world data for therapies such as SKYRIZI and RINVOQ, FDA regulatory submissions and response letters, and medical-conference presentations in inflammatory bowel disease and other immune-mediated conditions.
Company news also covers pipeline spending, acquired in-process research and development, manufacturing capacity for medicines in core therapeutic areas, and investor conference appearances. AbbVie’s product references commonly include SKYRIZI, RINVOQ, Botox Therapeutic, Vraylar, Ubrelvy, Qulipta, Venclexta, Imbruvica and Elahere.
AbbVie (NYSE: ABBV) advises shareholders to reject Tutanota 's unsolicited "mini-tender" offer to purchase up to 250,000 shares of AbbVie common stock at $165.00 per share. The offer, dated May 28, 2024, is conditioned on the stock's market price exceeding the offer price before the offer's expiration on June 28, 2024. AbbVie warns that accepting the offer could result in selling shares at below-market prices and highlights the lack of investor protections in mini-tender offers, as noted by the SEC. Shareholders who have already tendered their shares can withdraw them by following the instructions in Tutanota's offer documents. AbbVie emphasizes the importance of consulting financial advisors and reviewing current stock quotes before making any decisions.
AbbVie and FutureGen Biopharmaceutical announced a global license agreement to develop FG-M701, a next-generation TL1A antibody for treating inflammatory bowel disease (IBD). FG-M701 is in preclinical development and aims to offer improved efficacy and less frequent dosing compared to first-generation therapies. AbbVie will receive exclusive rights to develop, manufacture, and commercialize FG-M701. FutureGen will receive $150 million in upfront and near-term milestone payments, with the potential for up to $1.56 billion in additional payments and tiered royalties up to low-double digits on net sales. The collaboration aims to advance treatment options for patients with IBD.
Allergan Aesthetics, an AbbVie company (NYSE: ABBV), announced the 2024 recipients of the BOTOX® Cosmetic Women Entrepreneur Grant. Twenty women entrepreneurs will receive $25,000 each, mentorship, and community support. This year's program saw nearly 11,000 applicants, almost double from 2023. The grant aims to address funding disparities, particularly for BIPOC women, and includes enhanced coaching and networking opportunities. The recipients' support began with a bootcamp in New York City and will continue with a ten-week Crowdfunding Coaching Accelerator program. This initiative highlights AbbVie's commitment to empowering women entrepreneurs.
AbbVie (NYSE: ABBV) has announced positive topline results from its Phase 2 PICCOLO trial of mirvetuximab soravtansine (ELAHERE®) for folate receptor-alpha (FRα) positive, platinum-sensitive ovarian cancer (PSOC). The trial met its primary endpoint, achieving an objective response rate (ORR) of 51.9% (95% CI 40.4 – 63.3%).
Additionally, the median duration of response (DOR), a key secondary endpoint, was reported at 8.25 months. The safety profile was consistent with previous studies, with no new safety concerns identified. Full data will be presented at an upcoming medical meeting.
Dr. Angeles Alvarez Secord from the Duke Cancer Institute highlighted the need for new treatment options in PSOC, emphasizing the trial's significance for this patient group.
Allergan Aesthetics, a subsidiary of AbbVie (NYSE: ABBV), celebrates 25 years of SkinMedica®, its premium skincare line. From June 1 to June 25, 2024, Allē Members purchasing SkinMedica® products can earn double points and enter a sweepstakes to win $5,000. Since its inception in 1999, SkinMedica® has been a leader in science-backed skincare, renowned for products like the TNS Recovery Complex® and TNS® Advanced+ Serum. The brand was co-founded by dermatologist Dr. Kimberly Butterwick, who emphasizes its blend of science and luxury. As SkinMedica® commemorates this milestone, followers are encouraged to engage on Instagram with the hashtag #25YearsOfSkinMedica.
AbbVie has launched the Migraine Career Catalyst Award™, a unique contest aimed at supporting the career aspirations of individuals living with migraine. The contest offers 20 winners up to $2,500 each, which can be used for career counseling, professional development, and networking opportunities. The initiative underscores AbbVie's commitment to addressing the impact of migraine in the workplace. The submission period is open until September 3, 2024, with winners announced on November 15, 2024. This contest is open to legal residents of the U.S., D.C., and Puerto Rico who are 18 or older.
AbbVie (NYSE: ABBV) announced the commencement of its CERVINO Phase 3 trial, evaluating the efficacy, safety, and tolerability of its investigational drug, ABBV-383, for treating relapsed/refractory multiple myeloma (r/r MM).
ABBV-383 is a B-cell maturation antigen (BCMA) bispecific antibody T-cell engager with distinctive bivalent BCMA-binding domains and a low-affinity CD3 binding domain, designed for high BCMA-avidity. The trial involves a multicenter, randomized, open-label study comparing ABBV-383 monotherapy to standard available therapies (SATs) in patients who have undergone at least two prior treatment lines.
Multiple myeloma is a significant global health concern, affecting 176,000 new patients and causing 117,000 deaths in 2020. The study aims to offer a novel treatment option with a monthly dosing regimen, potentially simplifying treatment for both physicians and patients.
AbbVie announced that RINVOQ (upadacitinib) is now approved in the U.S. for treating pediatric patients aged two years and older with active polyarticular juvenile idiopathic arthritis (pJIA) and psoriatic arthritis (PsA), who have not responded well to TNF blockers.
This marks the first pediatric indication for RINVOQ, which is now approved for eight immune-mediated inflammatory diseases. A new weight-based oral solution, RINVOQ LQ, is also available.
The approval is based on data from adult and pediatric studies showing comparable plasma exposures and safety profiles in children and adults.
RINVOQ may cause serious side effects, including infections, cancer, and cardiovascular issues.
Allergan Aesthetics, a company under AbbVie (NYSE: ABBV), has introduced a new Refer a Friend feature for its Allē Loyalty Rewards Program. Starting June 4, 2024, Allē Members can invite friends and family to join, allowing both parties to earn up to $50 in savings on Allergan Aesthetics products and treatments such as BOTOX® Cosmetic, JUVÉDERM® Fillers, and CoolSculpting®. Members can refer up to five new users per offer period and receive $10 per referral. With over 7 million members, Allē aims to educate consumers about aesthetic treatments while offering rewards.
AbbVie (NYSE: ABBV) will participate in the Goldman Sachs 45th Annual Global Healthcare Conference on June 12, 2024. Key executives, including President and COO Robert A. Michael, CFO Scott T. Reents, CCO Jeffrey R. Stewart, and Chief Medical Officer Dr. Roopal Thakkar, will present at 9:00 a.m. Central time. Investors can access a live audio webcast through AbbVie's Investor Relations website, with an archived version available later in the day.