Abbvie Inc Stock Price, News & Analysis

AbbVie (NYSE: ABBV) has announced the validation of a Marketing Authorization Application (MAA) by the European Medicines Agency (EMA) for epcoritamab, an investigational treatment for adult patients with relapsed or refractory diffuse large B-cell lymphoma (DLBCL). Concurrently, Genmab has submitted a Biologics License Application (BLA) to the FDA for the same drug. Epcoritamab is supported by results from the EPCORE™ NHL-1 Phase 2 trial and aims to address significant unmet needs in treating B-cell malignancies. This joint effort highlights AbbVie's commitment to advancing oncology care.

AbbVie reported third-quarter results for 2022, showing a 24.2% increase in diluted EPS to $2.21 on a GAAP basis, and adjusted diluted EPS of $3.66, up 29.3%. Total net revenues reached $14.812 billion, reflecting a 3.3% increase. The immunology portfolio delivered $7.651 billion, a 14.6% rise, bolstered by Skyrizi and Rinvoq. However, Humira sales decreased internationally by 25.9% due to competition. The company also announced a 5.0% dividend increase, raising the quarterly dividend to $1.48 per share.

AbbVie announced the presentation of 26 abstracts at the ACG Annual Scientific Meeting from October 21-26, 2022, focusing on its gastroenterology portfolio. Key topics include Crohn's disease treatment outcomes from the SKYRIZI pivotal program and insights on CREON's effects on exocrine pancreatic insufficiency. Presentations aim to enhance understanding of digestive disorders and support patients with high unmet needs. The meeting highlights AbbVie’s commitment to advancing research in inflammatory bowel diseases and improving standards of care.

AbbVie announced FDA approval for RINVOQ (upadacitinib) as the first oral JAK inhibitor for adults with active non-radiographic axial spondyloarthritis (nr-axSpA). This follows its earlier approval for ankylosing spondylitis (AS), marking RINVOQ as the only JAK inhibitor for both conditions. In clinical trials, nearly 45% of nr-axSpA patients on RINVOQ achieved significant disease control at week 14, outperforming placebo. AbbVie aims to enhance treatment options for patients with chronic, painful diseases.

AbbVie announced the acquisition of DJS Antibodies, a UK-based biotechnology firm, for $255 million. DJS specializes in developing antibody therapies targeting difficult proteins, with its leading candidate DJS-002 aimed at treating Idiopathic Pulmonary Fibrosis (IPF) and other fibrotic diseases. This deal enhances AbbVie's antibody research capabilities and solidifies its immunology portfolio, leveraging DJS's proprietary HEPTAD platform. AbbVie anticipates retaining DJS employees and its Oxford facility, with additional payments contingent on DJS-002's development milestones.

On October 17, 2022, AbbVie announced the retirement of Laura J. Schumacher, vice chairman and chief legal officer, after a notable 32-year career. Perry C. Siatis was appointed as the new executive vice president, general counsel, and secretary. Schumacher played a pivotal role in AbbVie’s formation and led significant legal functions, including the $63 billion acquisition of Allergan. Siatis, with over 17 years at AbbVie, has managed various legal responsibilities and contributed to the company’s growth and compliance programs.

Allergan Aesthetics, part of AbbVie (NYSE: ABBV), showcased its commitment to aesthetic medicine at the American Society for Dermatologic Surgery (ASDS) meeting from October 6-10, 2022, in Denver. Key findings include a low global rate (<0.016%) of delayed-onset nodules from dermal fillers on the Vycross platform, based on 15 years of data. The event featured eight scientific abstracts, including studies on facial hyperpigmentation and innovative treatment solutions. Dr. DiAnne Davis presented the Forces of Beauty® Report, addressing racial equity in aesthetic medicine.

AbbVie (NYSE: ABBV) is set to announce its third-quarter 2022 financial results on October 28, 2022, before market opening. A live webcast of the earnings call will occur at 8 a.m. CT, accessible through AbbVie's Investor Relations website. An archived version will be available later the same day. AbbVie aims to deliver innovative medicines across various therapeutic areas, addressing serious health issues, including immunology, oncology, and more. For further details, visit the company's official website.

AbbVie (NYSE: ABBV) presented new data from studies on risankizumab (SKYRIZI) and upadacitinib (RINVOQ) during the United European Gastroenterology (UEG) Week 2022. Key highlights include final analyses from the U-ACHIEVE study, which evaluated RINVOQ's efficacy in treating moderately to severely active ulcerative colitis, and the U-EXCEL study focusing on Crohn's disease. A total of 17 abstracts, featuring oral presentations and e-posters, showcase AbbVie's commitment to advancing treatments for inflammatory bowel disease. The investigational use of these medications in Crohn's disease in the EU is noted.