Abbvie Inc Stock Price, News & Analysis

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.

AbbVie announced positive results from the Phase 3 INSPIRE study for risankizumab (SKYRIZI), an IL-23 inhibitor for ulcerative colitis. At week 12, 20.3% of patients on risankizumab achieved clinical remission, compared to 6.2% on placebo (p<0.00001). All secondary endpoints, including endoscopic and histologic improvements, were met, with significant differences noted: 36.5% of risankizumab patients showed endoscopic improvement versus 12.1% for placebo. The safety profile was consistent with previous studies, with no new safety risks identified. The maintenance study for ulcerative colitis is ongoing, and the drug is currently not FDA-approved for this indication.

AbbVie (NYSE: ABBV) announced on March 22, 2023, that it received a Complete Response Letter (CRL) from the FDA regarding its New Drug Application for ABBV-951 (foscarbidopa/foslevodopa) aimed at treating motor fluctuations in adults with advanced Parkinson's disease. The FDA's letter requests additional information about the delivery device but does not require further efficacy or safety trials for the drug. AbbVie plans to resubmit the NDA promptly. The application was based on a successful Phase 3 clinical trial showing significant improvement in patient outcomes compared to existing oral treatments.

AbbVie announced positive results from a phase 3b study of SKYRIZI (risankizumab) for treating plaque psoriasis in patients with a prior suboptimal response to IL-17A inhibitors. At week 16, 56.3% of patients achieved significant symptom reduction, with 63.0% reaching clear or almost clear skin by week 52. Additionally, 26.2% reported complete skin clearance at week 52. No new safety concerns emerged during the study. This reinforces SKYRIZI's role for difficult-to-treat psoriasis, supporting ongoing research commitments from AbbVie.

AbbVie announced the launch of a new documentary titled "Under My Skin: Untold Stories of Life with Eczema," which debuted at SXSW 2023 in Austin, Texas. The film aims to highlight the physical and emotional struggles of individuals living with eczema, a chronic skin disease affecting over 31 million Americans. Directed by Redglass Pictures, the documentary presents real-life stories to inspire viewers to seek help. It will be available for U.S. audiences to stream on The Roku Channel starting April 1, 2023. The initiative reflects AbbVie’s commitment to supporting the eczema community and raising awareness about the disease's deeper impacts.

AbbVie (NYSE: ABBV) will present over 20 abstracts at the 2023 American Academy of Dermatology Annual Meeting from March 17-21 in New Orleans. The highlights include a late-breaking presentation on the long-term efficacy and safety of risankizumab in moderate to severe plaque psoriasis, with over 256 weeks of follow-up data. AbbVie emphasizes its commitment to improving outcomes for patients with immune-mediated skin conditions, showcasing research on psoriatic disease, atopic dermatitis, and hidradenitis suppurativa. These presentations reflect AbbVie's strong investment in its dermatology portfolio.

On March 8, 2023, Allergan Aesthetics, part of AbbVie (NYSE: ABBV), announced a partnership with IFundWomen to support women entrepreneurs on International Women's Day. The initiative provides 20 grants of $25,000 each along with a year of coaching and mentorship to help close the 'Confidence Gap' in business. Women entrepreneurs face significant funding disparities, receiving only about 2% of venture capital, impacting their growth potential. Applications are open until April 7, 2023, with recipients announced in June 2023. The program aims to empower future women leaders by providing essential resources for success.