AbbVie (ABBV) is making strides in its
oncology pipeline by initiating a Phase 3 clinical trial for an investigational asset in multiple myeloma. The stock, however, faced a slump despite market gains. The company has shown promising results in multiple studies, including an ovarian cancer therapy and an ADC pipeline for solid tumors. It has also announced positive results from a Phase 2 PICCOLO trial of
Mirvetuximab Soravtansine and managed a mid-stage trial success for ovarian cancer drug,
Elahere. In addition to its focused diversification, AbbVie completed the acquisition of Landos Biopharma and announced a collaboration with
Gilgamesh Pharmaceuticals. It also gained CHMP approval for
Skyrizi for Ulcerative Colitis in the EU. Its stock has gone through fluctuations but continued progress and a boosted 2024 forecast suggest possible upside. The company is increasing its biologics manufacturing capacity with a large investment in a Singapore manufacturing site. It has proven attractive for patient dividend investors, despite the company lowering first-quarter guidance due to acquisition costs.
Abbvie ABBV News Analytics from Thu, 30 Nov 2023 08:00:00 GMT to Sun, 09 Jun 2024 10:14:41 GMT -
Rating 3
- Innovation 3
- Information 8
- Rumor -1
