Abbvie Inc Stock Price, News & Analysis

AbbVie announced results from its NOVA phase 2 study evaluating AGN-151607 for preventing postoperative atrial fibrillation (POAF) in cardiac surgery patients. Although the primary endpoint was not met, the data indicated a significant 29% relative risk reduction for CABG patients treated with 125 units. Moreover, those aged 65 and older showed a 51% risk reduction. The study also reported lower 30-day rehospitalization rates (8.7% vs. 15.7%) and more patients being atrial fibrillation-free (62.9% vs. 45.1%). Adverse events were similar across treatment groups, highlighting AGN-151607's potential in specific populations.

Allergan Aesthetics, part of AbbVie (NYSE: ABBV), expands its Pink Ribbon Strong 365 campaign, dedicated to year-round support for breast cancer patients, survivors, and previvors. The initiative emphasizes education and empowerment, offering resources like the Natrelle Cares Package and the Natrelle Inspires Bra, which donates one bra for every purchase. The campaign also includes an award-winning documentary and partnerships with organizations like METAvivor. Allergan aims to raise awareness and provide comprehensive support beyond Breast Cancer Awareness Month.

Genmab has submitted a Biologics License Application (BLA) to the U.S. FDA for epcoritamab, a bispecific antibody targeting relapsed/refractory large B-cell lymphoma. AbbVie has also validated a Marketing Authorization Application (MAA) for epcoritamab with the European Medicines Agency (EMA). These submissions stem from the EPCORE NHL-1 phase 2 trial, showing the drug's safety and efficacy in treating CD20+ mature B-cell non-Hodgkin lymphoma, a significant medical need exists for these patients. The joint development with AbbVie aims to bring new therapeutic options to market.

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.