Abbvie Inc Stock Price, News & Analysis

AbbVie and Caribou Biosciences have entered a multi-year collaboration to develop chimeric antigen receptor (CAR)-T cell therapies. Utilizing Caribou's CRISPR genome editing technology, AbbVie aims to create allogeneic, 'off-the-shelf' CAR-T therapies that can overcome immune rejection. The agreement includes a $40 million upfront payment to Caribou and potential milestone payments totaling $300 million. AbbVie will oversee clinical development, and has the option to expand the collaboration for additional CAR-T therapies.

The FDA has approved BOTOX^® (onabotulinumtoxinA) for treating detrusor overactivity due to neurological conditions in pediatric patients aged 5 and older. This marks the 12^th approval for BOTOX, enhancing its pediatric indications. The approval is based on a Phase 3 study involving over 100 children, demonstrating significant reductions in urinary incontinence episodes and improved bladder function. Common adverse effects include bacteriuria (20%) and urinary tract infections (7%). BOTOX now provides a crucial alternative for children unable to tolerate anticholinergics.

AbbVie reported significant financial results for Q4 2020, with worldwide net revenues reaching $13.858 billion, a 59.2% increase. Notably, the immunology portfolio generated $5.958 billion, and Humira net revenues were $5.152 billion. Adjusted diluted EPS stood at $2.92. The company expects strong performance in 2021, projecting GAAP diluted EPS between $6.69 and $6.89 and adjusted diluted EPS between $12.32 and $12.52. Recent approvals for Rinvoq and positive clinical trial results for Skyrizi bolster confidence in future growth.

On January 26, 2021, Allergan Aesthetics, a subsidiary of AbbVie (NYSE: ABBV), launched CoolSculpting® Elite, an advanced fat reduction system designed to target and eliminate visible fat bulges in nine areas of the body. This innovative system features new C-shaped applicators that provide a better fit and comfort, along with a larger cooling area for enhanced efficacy. The product is FDA-cleared for various treatment areas and aims to address consumer concerns about excess body fat as people transition back to in-person interactions.

AbbVie announced that the European Commission approved RINVOQ™ (upadacitinib) for treating active psoriatic arthritis (PsA) and ankylosing spondylitis (AS) in adults. RINVOQ is an oral, once-daily JAK inhibitor for patients who have not responded to DMARDs. The approval is based on pivotal trials demonstrating RINVOQ's efficacy, including significant improvements in physical function and disease activity scores. Safety profiles align with findings from rheumatoid arthritis studies. RINVOQ is now authorized for use across EU member states and other associated countries.

Allergan Aesthetics and Allergan, an AbbVie company (NYSE: ABBV), announced the presentation of 16 abstracts at the TOXINS 2021 Virtual Conference on January 16-17. These abstracts cover the efficacy and safety of BOTOX® across various therapeutic and cosmetic uses. Key studies include long-term immunogenicity rates, adherence in patients with spasticity, and treatment satisfaction in patients with dynamic glabellar lines. The findings will be published in Toxicon and available for six months post-conference, enhancing understanding of onabotulinumtoxinA's comprehensive benefits.

Allergan Aesthetics, an AbbVie company (NYSE: ABBV), announced a warrant agreement with Cypris Medical to potentially acquire the company following a clinical trial in 2021. The trial will assess the Xact device's safety and efficacy for treating midface descent and neck lifts. Designed as a minimally invasive alternative, Xact aims to deliver surgery-like results with minimal downtime. This partnership enhances Allergan's portfolio of aesthetic products, fulfilling the increasing demand for non-invasive treatments.

AbbVie (NYSE: ABBV) will report its fourth-quarter and full-year 2020 financial results on February 3, 2021, before the market opens. A live webcast of the earnings conference call is scheduled for 8 a.m. Central time, accessible via AbbVie's Investor Relations website. An archived version of the call will be available later that day. AbbVie is committed to creating innovative treatments in various therapeutic areas, including immunology, oncology, neuroscience, and more.

Dragonfly Therapeutics has announced the first opt-in from AbbVie for a TriNKET™ drug candidate as part of a collaboration initiated in November 2019. This partnership aims to develop novel immunotherapies targeting autoimmune and oncology diseases. AbbVie will gain exclusive worldwide rights to develop and commercialize the candidate, while Dragonfly will receive an opt-in payment along with potential future milestone payments and royalties on sales. Both companies express optimism about future collaborations and advancements in treatment options.