Categories Other Industries

AbbVie wins FDA approval for Rinvoq, stock gains

Shares of biopharmaceutical firm AbbVie (NYSE: ABBV) jumped 2.1% after the company received approval from the US Food and Drug Administration for its rheumatoid arthritis drug Rinvoq. The approval came after the treatment met all the primary and secondary endpoints in the Phase 3 trials.

Rinvoq is likely to hit the US markets as early as later this month.

pharma stocks
Image for representation (Photo by Drew Hays on Unsplash)

Affecting almost 1.3 million people in the US, rheumatoid arthritis causes the immune system to mistakenly attacks joints, damaging the bones and tissues.

The approval comes at a crucial time for the North Chicago, Illinois-based firm, which has been seeing weakness in its flagship drug Humira, used in the treatment of rheumatoid arthritis and psoriasis, especially in Europe.

READ: Abbvie’s oncology push makes it an attractive stock

During the most recently reported quarter, revenues from the Immunology unit fell 5.2%, as sales of Humira dipped 6% year-over-year. During the quarter, Humira still accounted for almost 60% of its total revenues.

The company is also diversifying its portfolio with a recently announced that it would acquire Irish competitor Allergan (NYSE: AGN) for $63 billion.  Immediately following the deal, AbbVie shareholders are expected to have approximately 83% stake in AbbVie on a fully diluted basis, and the rest with Allergan shareholders.  

AbbVie shares have tumbled 28% so far this year.

Browse through our earnings calendar and get all scheduled earnings announcements, analyst/investor conference and much more!

Most Popular

Key highlights from Deere & Co.’s (DE) Q4 2024 earnings results

Deere & Company (NYSE: DE) reported its fourth quarter 2024 earnings results today. Worldwide net sales and revenues decreased 28% year-over-year to $11.14 billion. Net income was $1.24 billion, or

NVDA Earnings: Nvidia Q3 profit jumps, beats estimates

NVIDIA Corporation (NASDAQ: NVDA) on Wednesday reported a sharp increase in adjusted profit and revenue for the third quarter of 2025. Earnings also topped analysts' estimates. The tech firm’s revenues

Lowe’s Companies (LOW): A few points to note about the Q3 2024 performance

Shares of Lowe’s Companies, Inc. (NYSE: LOW) rose over 1% on Wednesday. The stock has gained 8% over the past three months. The company delivered better-than-expected earnings results for the

Comments

  1. Pingback: Faculty Handbook
  2. Pingback: fue
  3. Pingback: public attitudes
  4. Pingback: cage de mma
  5. Pingback: taijutsu
  6. Pingback: Fiverr Earn
  7. Pingback: Fiverr Earn
  8. Pingback: fiverrearn.com
  9. Pingback: fiverrearn.com
  10. Pingback: fiverrearn.com
  11. Pingback: fiverrearn.com
  12. Pingback: jute vs sisal rug
  13. Pingback: bitcoin
  14. Pingback: zodiac jewelry
  15. Pingback: future university
  16. Pingback: wix marketplace
  17. Pingback: Lean
  18. Pingback: Warranty
  19. Pingback: FUE
  20. Pingback: Smooth transitions
  21. Pingback: Classic Books 500
  22. Pingback: FiverrEarn
  23. Pingback: FiverrEarn
  24. Pingback: FiverrEarn
  25. Pingback: FiverrEarn
  26. Pingback: Media
  27. Pingback: Speaker
  28. Pingback: FiverrEarn
  29. Pingback: FiverrEarn
  30. Pingback: partners
  31. Pingback: neurorise order
  32. Pingback: foliprime reviews
  33. Pingback: Social Justice
  34. Pingback: FiverrEarn
  35. Pingback: FiverrEarn
  36. Pingback: FiverrEarn
  37. Pingback: live sex cams
  38. Pingback: FiverrEarn
  39. Pingback: FiverrEarn
  40. Pingback: FiverrEarn
  41. Pingback: FiverrEarn
  42. Pingback: FiverrEarn
  43. Pingback: FiverrEarn
  44. Pingback: FiverrEarn
  45. Pingback: FiverrEarn
  46. Pingback: landscape
  47. Pingback: FiverrEarn
  48. Pingback: neurorise scam
  49. Pingback: cheap sex cams
  50. Pingback: fullersears.com
  51. Pingback: canine probiotics
  52. Pingback: french bulldog buy
  53. Pingback: live sex cams
  54. Pingback: live sex cams
  55. Pingback: rare breed-trigger
  56. Pingback: Creditos fiscales
  57. Pingback: 늑대닷컴
  58. Pingback: Bonus reload
  59. Pingback: superslot
  60. Pingback: allgame
  61. Pingback: 918kiss
  62. Pingback: หวย24
  63. Pingback: pg slot
  64. Pingback: cybersécurité
  65. Pingback: Raahe Guide
  66. Pingback: Raahe Guide
  67. Pingback: catskills hotel
  68. Pingback: megagame
  69. Pingback: apply evisa online
  70. Pingback: SaaS Lawyer
  71. Pingback: ItMe.Xyz
  72. Pingback: ItMe.Xyz
  73. Pingback: FB URL Shortener
  74. Pingback: itme.xyz

Comments are closed.

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top