Abbvie Inc Stock Price, News & Analysis

Allergan Aesthetics, part of AbbVie, has announced actress Malin Akerman as the first U.S. ambassador for its body contouring portfolio, which includes CoolSculpting® and CoolTone™. Both treatments cater to non-surgical fat reduction and muscle toning. Akerman has personally benefited from these procedures, targeting stubborn fat and enhancing muscle strength. With over 4 million people considering non-invasive body contouring, the partnership aims to educate consumers on these options. Special promotional gift cards are available for CoolSculpting and CoolTone treatments until the end of 2020.

AbbVie (NYSE: ABBV) will present findings from numerous studies, including the DYSCOVER study on DUODOPA® and advanced Parkinson's disease, during the 2020 International Congress of Parkinson's Disease and Movement Disorders, from September 12-16. The 12-week DYSCOVER study is the first to compare DUODOPA's efficacy against optimized medical treatment on dyskinesia, an involuntary movement symptom. Additionally, data on ABBV-951, a new treatment for advanced PD, will also be showcased. Overall, 18 abstracts will be presented, highlighting AbbVie's commitment to addressing Parkinson's disease challenges.

AbbVie Inc. (NYSE: ABBV) declared a quarterly cash dividend of $1.18 per share, payable on November 16, 2020, to stockholders of record as of October 15, 2020.

Since its inception, AbbVie has increased its dividend by 195% and is part of the S&P Dividend Aristocrats Index, recognizing companies with a history of annual dividend increases over 25 years.

AbbVie will participate in the Morgan Stanley 18th Annual Global Healthcare Conference on September 16, 2020, at 10 a.m. Central time. CEO Richard A. Gonzalez will present, and the session will be available via a live audio webcast on AbbVie's Investor Relations website, with an archived edition accessible later that day.

AbbVie aims to deliver innovative medicines across key therapeutic areas, including immunology, oncology, and neuroscience, and has a commitment to address serious health challenges.

AbbVie has submitted applications to the FDA and EMA for RINVOQ (upadacitinib) to treat active ankylosing spondylitis. This selective JAK inhibitor aims to address significant treatment gaps for patients suffering from this debilitating condition. The FDA application is backed by the SELECT-AXIS 1 Phase 2/3 trial, which showed that 52% of patients on RINVOQ met the treatment endpoint compared to 26% on placebo (p<0.001). RINVOQ previously gained approval for rheumatoid arthritis, but its safety and efficacy for ankylosing spondylitis remain unestablished. Innovation in this area is crucial given the limited options available.

AbbVie and Harvard University have established a $30 million collaborative research alliance to develop therapies for emergent viral infections, focusing on coronaviruses and hemorrhagic fever viruses. The initiative, announced on August 25, 2020, will leverage Harvard Medical School's (HMS) research capabilities and AbbVie's scientific expertise over a three-year timeline. The collaboration seeks to enhance the development of new therapeutics through multiple research areas including immunopathology and antibody therapeutics.

AbbVie (NYSE: ABBV) announced significant findings from the Phase 3 VIALE-A clinical study, published in the New England Journal of Medicine. The study focused on newly-diagnosed Acute Myeloid Leukemia (AML) patients, showing that the combination of venetoclax and azacitidine improved overall survival compared to azacitidine alone. Patients in the venetoclax group had a median survival of 14.7 months versus 9.6 months for the placebo group, with a 34% reduced risk of death (HR=0.66). AbbVie is seeking full FDA approval for this treatment.

AbbVie reported strong Q2 2020 results with net revenues of $10.425 billion, a 26.3% increase, despite a 5.3% decline on an operational basis due to COVID-19. Key drivers included an 8.1% revenue increase in immunology, with Humira revenues of $4.837 billion. The integration of Allergan is progressing positively, enhancing AbbVie's growth platform. Adjusted diluted EPS was $2.34, while the full-year guidance for adjusted diluted EPS is now set at $10.35 to $10.45, reflecting a 11% annualized growth from Allergan. The company also announced significant clinical advancements in its pipeline.

AbbVie (NYSE: ABBV) announced positive results from the Phase 3 ADVANCE trial for atogepant, a CGRP receptor antagonist, indicating significant reductions in mean monthly migraine days compared to placebo. The trial involved 910 patients, with all doses (10 mg, 30 mg, 60 mg) achieving statistically significant improvements. Approximately 55.6% - 60.8% of patients in treatment groups reported over 50% reduction in migraine days. AbbVie plans regulatory submissions in the US and other countries based on these findings.