Abbvie Inc Stock Price, News & Analysis

AbbVie announced a positive recommendation from the European Medicines Agency's CHMP for upadacitinib (RINVOQ) to treat adults with moderately to severely active Crohn's disease. This recommendation is based on results from two induction studies and one maintenance study, which showed significant improvements in clinical remission and endoscopic response compared to placebo. If approved by the European Commission, this will be the seventh indication for upadacitinib in the EU and the first JAK inhibitor for Crohn's disease. Upadacitinib's safety profile was consistent with previous findings, with no new significant risks identified.

AbbVie (NYSE: ABBV) has expanded its strategic collaboration with Capsida Biotherapeutics to develop genetic medicines targeting eye diseases. This collaboration enhances their existing partnership from 2021 focused on neurodegenerative diseases. Under the agreement, Capsida will receive $70 million which includes upfront payments and a potential equity investment. Capsida could earn up to $595 million in additional option fees and research milestones, along with royalties on future product sales. The partnership aims to leverage AbbVie's drug development expertise and Capsida's AAV engineering capabilities to advance three therapeutic programs.

The board of directors of AbbVie (NYSE: ABBV) has declared a quarterly cash dividend of $1.48 per share, payable on May 15, 2023, to stockholders of record by the close of business on April 14, 2023.

Since its inception in 2013, AbbVie has increased its dividend by over 270% and is recognized as a member of the S&P Dividend Aristocrats Index, which includes companies that have consistently raised dividends for at least 25 consecutive years.

AbbVie (NYSE: ABBV) reported full-year diluted EPS of $6.63, a 2.8% increase, and adjusted diluted EPS of $13.77, up 16.4%. Net revenues reached $58.054 billion, a 3.3% increase. Immunology portfolio revenues soared by 14.4%, totaling $28.924 billion, with Humira revenues at $21.237 billion. In contrast, hematologic oncology revenues fell 9.0% to $6.577 billion. For Q4, diluted EPS was $1.38, down 38.9%, while adjusted EPS rose 16.9% to $3.60. The company projects 2023 adjusted EPS guidance between $10.70 and $11.10, not accounting for acquired IPR&D expenses. AbbVie continues to enhance its portfolio and pipeline, including a major approval for Skyrizi in Crohn's disease.

Allergan Aesthetics, part of AbbVie (NYSE: ABBV), launched its 'Discover your 360°' initiative at the 24th IMCAS World Congress in Paris. This experience focuses on meeting aesthetic practitioners' and patients' evolving needs through innovative products and education. Key themes include Gender Inclusive Beauty and The End of Aging, discussed in various symposiums. Dr. Arthur Swift leads the opening symposium on Jan 28, with sessions featuring world-renowned experts. The event aims to enhance patient outcomes and supports practitioners with valuable insights. Allergan's commitment to aesthetics is reflected in its extensive product portfolio.

Allergan Aesthetics, part of AbbVie (NYSE: ABBV), announced the national launch of JUVÉDERM® VOLUX™ XC on January 18, 2023. This long-lasting hyaluronic acid filler addresses moderate to severe loss of jawline definition and is available for adults over 21. 40% of consumers are considering treatment for their jawline in the next year. Clinical trials showed high patient satisfaction, with results lasting up to 12 months. The JUVÉDERM Collection is the top dermal filler choice in the U.S., and providers prefer it over competitors. Allergan also offers the Allē loyalty program for rewards on treatments.

Allergan Aesthetics, part of AbbVie (NYSE: ABBV), launched the SkinMedica® Even & Correct Collection on January 17, 2023. This new line includes three products designed to enhance skin tone and reduce hyperpigmentation: Advanced Brightening Treatment, Dark Spot Cream, and Brightening Treatment Pads. The collection is clinically proven and applicable to all skin types. According to a study, results can be seen within a week, with up to 84% of participants reporting improvements. The products contain a patent-pending LTN Complex™ and are priced at $178, $88, and $60, respectively. They can be purchased online and through licensed professionals.

AbbVie has partnered with Anima Biotech to develop mRNA biology modulators targeting oncology and immunology. The collaboration utilizes Anima's mRNA Lightning technology, which combines AI-driven phenotypic screening and small molecule modulation. AbbVie will pay Anima an upfront amount of $42 million and may pay up to $540 million in additional fees and milestones. This partnership aims to address challenging 'undruggable' targets and may expand to three more targets, enhancing AbbVie’s therapeutic capabilities.

Immunome has entered a multi-year collaboration with AbbVie to discover up to 10 novel target-antibody pairs through Immunome’s Discovery Engine. This agreement includes a $30M upfront payment and potential further payments totaling up to $70M for platform access, along with development milestones of up to $120M per target. AbbVie aims to enhance its oncology pipeline with Immunome’s innovative technology, which leverages human memory B cells for effective cancer therapeutics.