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AbbVie Inc (ABBV.K)

ABBV.K on New York Consolidated

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9 Dec 2016
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Latest Key Developments (Source: Significant Developments)

Moody's downgrades AbbVie to Baa2; stable outlook
Wednesday, 1 Jun 2016 06:08pm EDT 

Moody's: Moody's downgrades AbbVie to Baa2; stable outlook . Baa2 rating reflects its large scale with a revenues of about $23 billion, its high margins and its strong cash flow . In light of continuing revenue concentration in Humira, this degree of financial leverage positions AbbVie at the Baa2 rating level .Rating outlook is stable, reflecting expectations for good organic growth offset by product concentration risk.  Full Article

Coherus Biosciences provides update on '135 IPR
Tuesday, 17 May 2016 10:31am EDT 

Coherus Biosciences Inc : Coherus Biosciences provides update on '135 IPR . Coherus Biosciences Inc - Received favorable decision from Us Patent and Trademark Office instituting co's petition for inter partes review of Abbvie's U.S. Patent 8,889,135 . Coherus Biosciences Inc - Says "Confident that this will lead to a final decision nullifying '135 patent" .Coherus Biosciences Inc - Abbvie's U.S. Patent directed to dosing regimen in which 40 MG of Humira administered subcutaneously every 13 to 15 days to treat Rheumatoid Arthritis.  Full Article

Bristol-Myers says European Commission approval of Empliciti for treatment of multiple myeloma
Wednesday, 11 May 2016 02:25pm EDT 

Bristol-myers Squibb Co :Bristol-Myers squibb and abbvie announce european commission approval of empliciti(tm) (elotuzumab) for the treatment of multiple myeloma in adult patients who have received at least one prior therapy.  Full Article

FDA expands Imbruvica label to include survival data
Monday, 9 May 2016 08:08am EDT 

AbbVie Inc : U.S. FDA expands Imbruvica (ibrutinib) label to include overall survival data in previously untreated chronic lymphocytic leukemia . Label now includes overall survival (OS) results in previously-untreated cll/sll patients from phase 3 resonate tm -2 (pcyc-1115) trial .U.S. FDA expands Imbruvica (ibrutinib) label to new indication for small lymphocytic lymphoma (SLL) patients.  Full Article

Galapagos and AbbVie Inc expand their cystic fibrosis collaboration
Friday, 29 Apr 2016 01:00am EDT 

Galapagos NV:Galapagos and Abbvie expand their cystic fibrosis collaboration.Companies have agreed to increase potential milestones to Galapagos for phase 1 and 2 achievements.Bringing remaining total milestones in CF alliance up to approximately $600 million, from $350 million.  Full Article

AbbVie Inc says acquisition of Stemcentrx and its Novel, late-stage rova-t compound for small cell lung cancer
Thursday, 28 Apr 2016 07:02am EDT 

AbbVie Inc:Says will Acquire Stemcentrx and its lead late-stage asset rovalpituzumab tesirine (Rova-T) currently in registrational trials for small cell lung cancer.Transaction valued at approximately $5.8 billion.Rova-T represents a multi-billion dollar peak revenue opportunity with expected commercialization in 2018.AbbVie will acquire Stemcentrx for approximately $5.8 billion in cash and stock.AbbVie will pay approximately $2.0 billion of the transaction value in cash and fund the remaining portion with stock.In addition, Stemcentrx investors are eligible to receive up to $4 billion in cash for additional, success-based milestone payments for the achievement of certain regulatory and clinical developments.Intends to execute an accelerated share repurchase program of up to $4 billion of the company's common stock.Expects this transaction to be approximately $0.20 dilutive to our ongoing earnings per share in 2016, with accretion beginning in 2020.  Full Article

AbbVie and CytomX announce strategic collaboration for Probody Drug Conjugates
Thursday, 21 Apr 2016 04:01pm EDT 

CytomX Therapeutics:AbbVie and CytomX Therapeutics, Inc. announced that they have entered into a collaboration to co-develop and co-commercialize Probody(tm) Drug Conjugates against CD71, also known as transferrin receptor 1.Under the terms of the agreement, CytomX and AbbVie will co-develop a Probody drug conjugate against CD71, with CytomX leading pre-clinical and early clinical development.AbbVie will lead later development and commercialization, with global late-stage development costs shared between the two companies.CytomX will receive an upfront payment of $30 million and is eligible to receive up to $470 million in development, regulatory and commercial milestones, pending the achievement of pre-determined outcomes.AbbVie will lead global commercial activities with CytomX eligible to receive a profit share in the U.S. and tiered double-digit royalties on net product sales outside of the U.S. CytomX retains an option to co-promote in the U.S.AbbVie also receives exclusive worldwide rights to develop and commercialize Probody drug conjugates against up to two additional, undisclosed targets.Should AbbVie ultimately pursue these targets, CytomX is eligible to receive additional milestone and royalty payments per target on any resulting products.  Full Article

AbbVie Inc and Boehringer Ingelheim announce collaboration on promising immunology compounds
Monday, 7 Mar 2016 08:00am EST 

AbbVie Inc:Abbvie and boehringer ingelheim announce global collaboration on promising immunology compounds.Says AbbVie will make an initial upfront payment of US$ 595 million.Says boehringer ingelheim will retain responsibility for further development of bi 655064.Says AbbVie may elect to advance the program after completion of certain undisclosed clinical achievements.Boehringer ingelheim will be eligible to receive milestone payments on net sales, the terms of which are not disclosed.Says AbbVie will be solely responsible for commercialization of bi 655066.  Full Article

AbbVie Inc - UK cost agency rejects leukaemia drug from J&J and AbbVie - Reuters
Tuesday, 1 Mar 2016 02:01pm EST 

AbbVie Inc:A new leukaemia drug viewed by industry experts as a future blockbuster has been rejected by Britain's healthcare cost-effectiveness agency NICE, which said it could not be confident the medicine represented an effective use of resources - RTRS.Imbruvica has a list price of 55,954.50 pounds ($78,000) a year, although it is being offered at an undisclosed discount to the National Health Service by European supplier Janssen, a unit of Johnson & Johnson.Janssen said on Wednesday it was "extremely disappointed" by the draft recommendation from the National Institute for Health and Care Excellence (NICE), which contrasted with decisions in 48 other countries to fund the medicine.Imbruvica is the first in a new class of cancer drugs known as Burton's tyrosine kinase inhibitors. Excitement over its prospects prompted AbbVie ABBV.N to buy Pharmacyclics, which developed the medicine with J&J, for $21 billion last year.  Full Article

AbbVie Inc receives EMA orphan drug designation for investigational compound venetoclax for treatment of acute myeloid leukemia
Friday, 26 Feb 2016 06:01am EST 

AbbVie Inc:Receives EMA orphan drug designation for investigational compound venetoclax for treatment of acute myeloid leukemia.Says Venetoclax is being developed by AbbVie in partnership with Genentech and Roche.  Full Article

Momenta's Humira biosimilar succeeds in key psoriasis study

U.S. biotech Momenta Pharmaceuticals Inc said on Tuesday its experimental biosimilar version of AbbVie Inc's top-selling autoimmune drug, Humira, met the main goal in a late-stage trial involving patients with a form of psoriasis.