AbbVie's rheumatoid arthritis drug Humira did exactly what the new company needed it to do in the first quarter. It returned significantly higher sales and allowed Abbvie to report better than expected earnings in its first earnings report as a stand-alone company.
Pfizer has big expectations for its oral rheumatoid arthritis treatment Xeljanz--about $3 billion worth. But those expectations were struck a serious blow when European Medicines Agency regulators Thursday turned it down for approval.
Late last year Lonza and Teva sent a chill down the backs of an emerging group of developers working on biosimilars--those follow-on therapies that are expected to take the price of aging biologics down a peg or two as they lose patent protection.
AbbVie CEO Richard Gonzalez has full confidence in the new company's super blockbuster Humira. Not only did the rheumatoid arthritis drug outperform market expectations last quarter, but it also will power the company's cash flow for years to come, he said today.
Harris Interactive has been digging into physicians' response to drug brands, therapeutic area by therapeutic area, racking up more evidence for an emotional variable in the doctor-drug trust equation.
At the J.P. Morgan Healthcare Conference on Tuesday, AbbVie CFO Bill Chase swept aside suggestions that the new company needed some big acquisition to move forward despite the fact that it is now on its own in the world and essentially living off one product, anti-inflammatory Humira.
After 15 months of planning, AbbVie has split away from Abbott, complete with a pipeline of more than 20 mid- and late-stage therapies, $18 billion in revenue and a commercial operation that spans the globe.
The supercharged race to get new treatments into the lucrative market for treating rheumatoid arthritis appeared to thin considerably today as one contender dropped a study and another's drug came up short against the existing competition.
The London-based drug giant, which has shown weakness in its late-stage pipeline this year, is pushing ahead with ongoing late-stage studies that will provide a case for regulatory submissions.
Shares of AbbVie, the new offspring of drugmaker Abbott Laboratories ($ABT), will not trade until Jan. 2, but investors are getting their say at how to price them. And guess what? The AbbVie stock price fell in the first day of trading.