AbbVie (ABBV) Shares Fall 6% Following Revenue Miss

AbbVie to pay up to $2.37 billion to settle U.S. opioid claims

July 29, 2022 7:43 AM EDT

By Manas Mishra and Brendan Pierson

(Reuters) -AbbVie Inc has agreed to pay up to $2.37 billion to resolve thousands of U.S. lawsuits against its Allergan unit over the marketing of opioid painkillers, state officials announced on Friday.

If finalized, the deal could end more than 3,000 lawsuits by state and local governments around the country. It includes settlements the drugmaker has already reached with states, including $200 million for New York.

"We've worked hard to get the... More

AbbVie (ABBV) Tops Q2 EPS by 3c, Maintains FY EPS Guidance

July 29, 2022 7:42 AM EDT

AbbVie (NYSE: ABBV) reported Q2 EPS of $3.37, $0.03 better than the analyst estimate of $3.34. Revenue for the quarter came in at $14.58 billion versus the consensus estimate of $14.67 billion.

GUIDANCE:

AbbVie sees FY2022 EPS of $13.78-$13.98, versus the consensus of... More

AbbVie (ABBV) Announces EU Approval of RINVOQ as Oral Treatment for Adults with Active Non-Radiographic Axial Spondyloarthritis

July 29, 2022 5:52 AM EDT

AbbVie (NYSE: ABBV) today announced that the European Commission (EC) has approved RINVOQ® (upadacitinib 15 mg, once daily), an oral therapy, for the treatment of active non-radiographic axial spondyloarthritis (nr-axSpA) in adult patients with objective signs of inflammation, as indicated by elevated C-reactive protein (CRP) and/or magnetic resonance imaging (MRI), who have responded inadequately to nonsteroidal anti-inflammatory drugs (NSAIDs).*1

"For years, healthcare providers and patients have had limited treatment options to manage axial spondyloarthritis, which can cause back pain, stiffness, and... More

AbbVie (ABBV) Submits Regulatory Applications to FDA and EMA for Upadacitinib in Crohn's Disease

July 27, 2022 8:45 AM EDT

AbbVie (NYSE: ABBV) today announced that it has submitted applications for a new indication to the U.S. Food and Drug Administration (FDA) and European Medicines Agency (EMA) for upadacitinib (RINVOQ®, 45 mg [induction dose] and 15 mg and 30 mg [maintenance dose]) for the treatment of adult patients with moderately to severely active Crohn's disease.4,11

"Crohn's disease can be... More