Key Developments: AbbVie Inc (ABBV.K)

ABBV.K on New York Consolidated

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28 Nov 2014
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Latest Key Developments (Source: Significant Developments)

Shire Plc confirms rejection of AbbVie proposal
Friday, 20 Jun 2014 03:42am EDT 

Shire Plc:Confirms that on May 30 Shire received an unsolicited and highly conditional proposal from AbbVie (the Proposal) regarding possible cash and share offer for Shire.This Proposal has been rejected.Proposal comprised 20.44 pounds in cash and 0.7988 AbbVie shares per Shire share.Proposal involved a new US listed holding company with a UK tax domicile.Based on AbbVie's 30 day volume weighted average share price of US$54.10, proposal represents value of 46.11 pounds per Shire share (comprising 44 pct cash and 56 pct AbbVie shares).Proposal represents premium of 23 pct to Shire's share price of 37.38 pounds on June 19 and premium of 30 pct to Shire's 30 day volume weighted average share price of 35.43 pounds.Proposal follows two earlier proposals, which were also rejected. At AbbVie's request, Shire met with AbbVie to enable AbbVie to explain key aspects of proposal.Following this meeting, the Board of Shire decided unanimously to reject proposal on the basis that it fundamentally undervalued the company and its prospects.  Full Article

AbbVie Inc made an indicative approach to Shire Plc with merger proposal
Friday, 20 Jun 2014 02:00am EDT 

Shire Plc:Says AbbVie Inc. notes the recent press speculation and confirms it made an indicative approach to Shire plc (Shire) with merger proposal which was rejected by the Board of Shire.There can be no certainty that any firm offer will be made.Discussions are no longer ongoing.AbbVie's initial cash and share proposal in early May 2014 represented an indicative offer of 39.50 pounds for each Shire share.1.AbbVie's third and latest cash and share proposal when made represented an indicative offer of 46.26 pounds for each Shire share.2.AbbVie reserves the right to introduce other forms of consideration and/or vary the mix of consideration.AbbVie also reserves the right to make an offer at any time for less than the equivalent of 46.26 pounds for each Shire share with the agreement or recommendation of the Shire Board.If a third party announces a firm intention to make an offer for Shire which, as at the date AbbVie announces a firm intention to make an offer for Shire, is valued at a lower price than the equivalent of £46.26 for each Shire share; or.Following the announcement by Shire of a whitewash transaction pursuant to the takeover code.  Full Article

AbbVie Inc declares quarterly dividend
Thursday, 19 Jun 2014 11:28am EDT 

AbbVie Inc:Declares quarterly cash dividend of $0.42 per share.Cash dividend is payable Aug. 15, 2014 to stockholders of record at the close of business on July 15, 2014.  Full Article

European medicines agency validates marketing authorization applications for AbbVie 's Investigational, all-oral, interferon-free therapy for treatment of Genotype 1 Chronic Hepatitis C
Tuesday, 17 Jun 2014 02:00am EDT 

AbbVie Inc:Marketing Authorization Applications (MAAs) for its investigational, all-oral, interferon-free regimen for treatment of adult patients with chronic genotype 1 (GT1) hepatitis C virus (HCV) infection have been validated and are under accelerated assessment by European Medicines Agency (EMA).Says if approved, AbbVie's regimen could be available for marketing in European Union (EU) in Q1 of 2015.Accelerated assessment, which is designated to new medicines of major public health interest, was granted by EMA for AbbVie's investigational HCV regimen in May.  Full Article

Biogen Idec and AbbVie announce positive top-line results from Phase 3 study investigating Daclizumab High-Yield Process in Multiple Sclerosis
Monday, 16 Jun 2014 07:30am EDT 

Biogen Idec and AbbVie Inc:Says positive top-line results from Phase 3 DECIDE clinical trial, designed to evaluate the superiority of once-monthly, subcutaneous daclizumab high-yield process (DAC HYP) when compared to intramuscular interferon beta-1a (IFN β-1a).Results showed that DAC HYP was superior on the study's primary endpoint, demonstrating a statistically 45 pct reduction in annualized relapse rate (ARR) compared to IFN β-1a.  Full Article

AbbVie Inc presents results from global study of patient Attitudes and Adherence Across six chronic inflammatory diseases
Wednesday, 11 Jun 2014 02:00am EDT 

AbbVie Inc:Announces results from its multi country ALIGN study, which shows that across six chronic immune-mediated inflammatory diseases (IMIDs).Says adherence to treatment was generally higher in patients being treated with TNF inhibitors compared to patients treated with conventional therapy.Furthermore, patients who were "accepting" toward their medication were more often adherent, compared to patients who were "ambivalent" toward their medication, as estimated from their responses to validated questionnaires.Results were presented at the European League Against Rheumatism (EULAR) 2014 Congress in Paris.Results showed adherence to treatment, as determined by MMAS-4 scores, was generally higher in patients treated with TNF inhibitors with or without conventional therapy compared to patients treated with conventional therapy.Across all treatment types, a higher percentage of "accepting" patients were adherent to treatment compared to "ambivalent" patients based on MMAS-4 analysis and combined BMQ scores.  Full Article

AbbVie Inc opens expanded manufacturing facility in Sligo, Ireland
Tuesday, 3 Jun 2014 05:00am EDT 

AbbVie Inc:Opens the company's newly expanded manufacturing facility in Sligo, Ireland.  Full Article

AbbVie Inc presents results from study of investigational compound in Patients with Glioblastoma
Friday, 30 May 2014 08:00am EDT 

AbbVie Inc:Preliminary results from ongoing Phase I study with ABT-414, anti-epidermal growth factor receptor (EGFR) monoclonal antibody drug conjugate.Says in combination with temozolomide, which showed four objective responses, including one complete response, in patients with recurrent or unresectable glioblastoma multiforme.Specifically, one patient experienced complete response (CR) and three patients experienced partial responses (PR) as measured with the Revised Assessment in Neuro-Oncology (RANO) criteria.Glioblastoma multiforme is the most common and most aggressive type of malignant primary brain tumor, and patients have few treatment options and a five-year survival rate of less than 3 percent.Phase I, open-label, multicenter, international trial was designed to evaluate the toxicities, pharmacokinetics and recommended Phase II dose of ABT-414 when administered every other week in combination with temozolomide in patients with recurrent or unresectable glioblastoma.Other important assessments included adverse events, pharmacokinetic parameters, objective response and tumor tissue epidermal growth factor receptor biomarkers.Later stage clinical trials are being planned to continue to investigate ABT-414 in patients with glioblastoma multiforme.  Full Article

AbbVie Inc files new drug submission to health canada for its investigational, all-oral, interferon-free therapy for treatment of hepatitis C
Thursday, 22 May 2014 07:45am EDT 

AbbVie Inc:Filed New Drug Submission (NDS) to Health Canada seeking approval for company's investigational, all-oral, interferon-free regimen for treatment of adult patients with genotype 1 (GT1) chronic hepatitis C virus (HCV) infection, including patients with cirrhosis.Says NDS is supported by data from largest all-oral, interferon-free clinical program in GT1 patients conducted to date,(1) with six Phase III studies that included more than 2,300 patients in over 25 countries.  Full Article

Bristol-Myers Squibb and AbbVie receive U.S. FDA breakthrough therapy designation for elotuzumab, an investigational humanized monoclonal antibody for multiple myeloma
Monday, 19 May 2014 08:00am EDT 

Bristol-Myers Squibb Co and AbbVie Inc:Says U.S. Food and Drug Administration (FDA) grants elotuzumab, an investigational humanized monoclonal antibody, Breakthrough Therapy Designation for use in combination with lenalidomide and dexamethasone for treatment of multiple myeloma in patients.Breakthrough Therapy Designation is intended to expedite the development and review of drugs for serious or life-threatening conditions.  Full Article

Europe gives green light to AbbVie hepatitis C drugs, others

LONDON - European regulators recommended approval for two drugs made by AbbVie to treat hepatitis C, both of which belong to a new generation of medicines that have proved effective in treating a condition that is the most common cause of liver transplants in Europe.

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