The Chicago-based drugmaker has been counting on revenues from its newer immunology medicines to help make up for declining sales of its blockbuster arthritis drug Humira.
Tag Archive for: Rinvoq
With Humira finally losing exclusivity and market share, a new generation of autoimmune drugs is entering the spotlight at AbbVie.
AbbVie Inc. on Thursday missed quarterly revenue estimates for its newer treatments, fueling concerns over the drugmaker’s attempts to cushion the blow to sales from blockbuster Humira losing patent exclusivity.
In a double data drop yesterday, AbbVie touted two clinical trial wins. Topline data from the Phase III INSPIRE study showed Skyrizi (risankizumab) met its primary and all secondary endpoints in ulcerative colitis and Rinvoq (upadacitinib) aced its Phase II SLEek trial, showing therapeutic potential in systemic lupus erythematosus.
Abbvie will lift a self-imposed $2 billion limit on acquisitions and mergers placed following a $63 billion deal for Botox maker Allergan in 2020 that shot up its debt, the company’s chief executive officer told the Wall Street Journal.
In a fireside chat at the 41st J.P. Morgan Healthcare Conference in San Francisco, CEO Rick Gonzalez said AbbVie is well-positioned for continued growth.
AbbVie Inc. on Tuesday raised its 2025 sales forecast of its newer immunology drugs Skyrizi and Rinvoq to more than $17.5 billion as it hopes to replace the loss of revenue from its blockbuster rheumatoid arthritis drug Humira.
Nimbus Therapeutics reported positive Phase IIb results on Wednesday for its TYK2 inhibitor, NDI-034858, in moderate-to-severe plaque psoriasis.
While reporting positive third-quarter financials, AbbVie announced it is halting the development of cedirogant (ABBV-157), while also providing updates on Skyrizi, Rinvoq and Humira.
AbbVie may have doubled in size since the Allergan acquisition, but nearly half the company’s revenue, and a large chunk of its potential future growth, are still coming from a familiar place.
