AbbVie Inc. encountered a major regulatory setback as the FDA declined its application for ABBV-951, a therapy aimed at treating motor fluctuations in advanced Parkinson's disease patients. This rejection comes amid AbbVie's prediction of a 37% sales decline for its flagship product Humira due to increasing competition. Despite the challenges, AbbVie reported a significant revenue of $15.12 billion last quarter and continues to invest in other promising treatments, including upadacitinib for lupus, as it aims to strengthen its drug pipeline.
“Pfizer · is a competitor of · AbbVie · true”
“Pfizer · has competitors · AbbVie · true”
“FDA · issued · a complete response letter to AbbVie for ABBV-951 · true”
“AbbVie’s phase II study evaluating Rinvoq · met · the primary endpoint in the 30 mg group · true”
“AbbVie · announced positive data from a phase III study · evaluating Skyrizi · true”
“Pfizer · has competitors · AbbVie · true”
“AbbVie · predicted decline in sales of · Humira · 37%”
“AbbVie · was able to delay competition to · Humira · many years”
“AbbVie · advanced · upadacitinib to phase III · for moderately to severely active systemic lupus erythematosus”
“AbbVie · announced · FDA issued a complete response letter (CRL) · for its new drug application seeking approval for ABBV-951 for the treatment of motor fluctuations in patients with advanced Parkinson's disease”
“AbbVie · currently has · a Zacks Rank #3 · (Hold)”
“AbbVie · EPS growth rate is · per year over three years · 8.0%”
