Abbvie Inc Stock Price, News & Analysis

AbbVie (NYSE: ABBV) has announced the 2024-2025 recipients of its Immunology Scholarship, supporting 45 U.S. students living with chronic immune-mediated diseases. The scholarship, established in 2016, has benefited over 400 undergraduate and graduate students to date. Recipients are equally split among dermatology, gastroenterology, and rheumatology therapeutic areas.

The initiative aims to address the lower graduation rates among young adults with childhood-onset chronic illnesses by providing financial support and empowerment. Applicants are selected based on academic excellence, community leadership, essay submissions, and recommendation letters. The scholarship is open to students pursuing associate, bachelor's, master's, or doctorate degrees who are living with immune-mediated conditions.

SkinMedica®, a brand under Allergan Aesthetics (an AbbVie company, NYSE: ABBV), has launched its new HA5® Hydra Collagen Replenish + Restore Hydrator. This innovative product, designed for all skin types, features:

• Double the amount of hyaluronic acid compared to the original formula
• Hydra Collagen and Advanced VITISENSCE® Technology
• Up to 48 hours of hydration
• Support for the skin's natural moisture retention

The product can be complemented with an in-office DiamondGlow® facial using SkinMedica® HA5® Hydra Collagen Pro-Infusion Serum. Clinical studies show this combination results in skin appearing three times more radiant, hydrated, and visibly plumper after one use.

AbbVie (NYSE: ABBV) announced that the European Commission has granted conditional marketing authorization for TEPKINLY® (epcoritamab) as a monotherapy for treating adult patients with relapsed or refractory (R/R) follicular lymphoma (FL) after two or more lines of prior therapy. TEPKINLY is now the first and only subcutaneous T-cell engaging bispecific antibody approved to treat both R/R FL and R/R diffuse large B-cell lymphoma (DLBCL) in the European Union, European Economic Area countries, and Northern Ireland.

The approval is based on data from the Phase 1/2 EPCORE® NHL-1 clinical trial, which showed an overall response rate of 83% and a complete response rate of 63% in R/R FL patients treated with TEPKINLY. The median duration of response was 21.4 months. The safety profile was consistent with previous reports, with cytokine release syndrome being the most common adverse reaction.

AbbVie (NYSE: ABBV) has completed its acquisition of Cerevel Therapeutics (NASDAQ: CERE), strengthening its neuroscience portfolio. The acquisition brings multiple clinical-stage assets, including emraclidine, a potential best-in-class antipsychotic for schizophrenia, and tavapadon, a first-in-class treatment for Parkinson's disease. AbbVie expects the acquisition to be accretive to adjusted diluted EPS beginning in 2030.

The company reaffirms its 2024 full-year adjusted diluted EPS guidance range of $10.71-$10.91, which includes a $0.19 per share dilutive impact from the Cerevel acquisition. AbbVie also maintains its third-quarter adjusted diluted EPS guidance range of $2.92-$2.96. The acquisition is expected to contribute to AbbVie's long-term performance and complement its existing neuroscience pipeline.

Allergan Aesthetics, an AbbVie company (NYSE: ABBV), announces the return of JUVÉDERM® Day on August 21, 2024. This second annual event offers exclusive deals and savings through the Allē loyalty program. Highlights include:

1. BOGO Gift Cards: Members can purchase a $75 JUVÉDERM® gift card and receive an additional $75 card free.
2. Allē Flash: Schedule a consultation for a chance to save up to $500 on JUVÉDERM® treatment.
3. Sweepstakes: Get treated by September 30 for a chance to win $10,000.

JUVÉDERM® remains the top chosen hyaluronic acid dermal filler collection globally. The event aims to surpass last year's record-breaking treatment numbers and drive consumers to practices. Allē, serving over 7 million members across ~30,000 practices, offers rewards on various aesthetic treatments and flexible payment plans.

AbbVie (NYSE: ABBV) announced that the European Commission has approved SKYRIZI® (risankizumab) for treating adult patients with moderately to severely active ulcerative colitis (UC). This marks SKYRIZI's fourth approved indication in the European Union. The approval is based on data from two Phase 3 trials: INSPIRE (induction) and COMMAND (maintenance).

Key findings include:

• In INSPIRE, 20% of patients achieved clinical remission at week 12 with SKYRIZI vs 6% with placebo
• In COMMAND, 40% and 38% of patients achieved clinical remission at week 52 with SKYRIZI 180mg and 360mg, respectively, vs 25% in the control group
• Significant improvements in mucosal healing were observed, especially in patients without previous biologic or JAK inhibitor failure

The safety profile was consistent with previous trials, with no new safety risks identified.

AbbVie (NYSE:ABBV) reported Q2 2024 financial results with net revenues of $14.462 billion, up 4.3% on a reported basis. Diluted EPS was $0.77 on a GAAP basis, down 32.5%, while adjusted diluted EPS was $2.65, down 8.9%. Key highlights include:

- Immunology portfolio revenues: $6.971 billion, up 2.3%
- Oncology portfolio revenues: $1.634 billion, up 10.5%
- Neuroscience portfolio revenues: $2.162 billion, up 14.7%
- Aesthetics portfolio revenues: $1.390 billion, up 0.5%

AbbVie raised its 2024 adjusted diluted EPS guidance to $10.71 - $10.91. The company also announced leadership changes, with Robert A. Michael assuming the role of CEO effective July 1, 2024.

AbbVie has submitted regulatory applications to the FDA and EMA for upadacitinib (RINVOQ®) to treat giant cell arteritis (GCA). This autoimmune disease affects medium and large arteries, causing symptoms such as headaches, jaw pain, and vision changes, potentially leading to permanent vision loss. The applications are backed by Phase 3 SELECT-GCA study results, showing that upadacitinib (15 mg once daily) with a 26-week steroid taper regimen achieved sustained remission from week 12 through 52. The safety profile was consistent with existing conditions treated by upadacitinib.

AbbVie (NYSE:ABBV) has appointed Roopal Thakkar, M.D., as Executive Vice President, Research & Development, and Chief Scientific Officer. Thakkar, who is currently the Senior Vice President and Chief Medical Officer, Global Therapeutics, will now lead AbbVie's global R&D division, encompassing over 14,000 members across all discovery and development stages, including therapeutics and aesthetics. CEO Rob Michael highlighted Thakkar's robust track record in forging strategic partnerships and advancing clinical programs. Thomas J. Hudson, M.D., who served as Chief Scientific Officer since 2019, will retire. Hudson has been instrumental in shaping AbbVie's early-stage science and precision medicine capabilities since joining in 2016.