AbbVie

AbbVie (NYSE: ABBV) recently announced that its board of directors has decided to promote the company’s president and COO Robert A. Michael into the corner office. Michael will succeed Richard A. Gonzalez, who is retiring as CEO on July 1. Gonzalez will stay as executive chair of AbbVie’s board. “On behalf of AbbVie’s board, I…

AbbVie (NYSE: ABBV) recently announced that it will spend $223 million to expand its Singapore biologics manufacturing facility. Construction will commence immediately, with the facilities coming online in 2026. The added facilities will create 100 new jobs at the plant, boosting total employment to more than 500 positions in manufacturing, quality assurance, supply chain, engineering…

AbbVie (NYSE: ABBV) recently announced the launch of its Parkinson’s disease drug Produodopa (foslevodopa/foscarbidopa) in the European Union. Produodopa is for the treatment of advanced Parkinson’s disease with severe motor fluctuations and hyperkinesia (excessive movement) or dyskinesia (involuntary movement). It’s indicated for use when combinations of Parkinson’s medicinal products have not given satisfactory results. North…

Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) and AbbVie unit Allergan Plc (NYSE:ABBV) could pay more than $5 billion in total to settle some 3,500 opioid lawsuits, according to Bloomberg. While the two companies are willing to settle the suits in the consolidated case, the deal has not been finalized. The consolidated case is titled In Re National…

AbbVie (NYSE:ABBV) shares ticked up before hours today on third-quarter results that beat the consensus forecast. The North Chicago, Illinois-based company posted profits of $3.2 billion, or $1.78 per share, on sales of $14.34 billion for the three months ended Sept. 30, 2021, for a 37.5% bottom-line gain on sales growth of 11.2%. Adjusted to…

AbbVie (NYSE:ABBV) shares took a hit today despite second-quarter results that topped the consensus forecast. The North Chicago-based company posted profits of $769 million, or 42¢ per share, on sales of $14 billion for the three months ended June 30, 2021, marking a massive bottom-line gain from losses of -$739 million last year on sales…

Calico Life Sciences, an R&D biotech founded in 2013 as a Google subsidiary, is reaffirming its partnership with AbbVie (NYSE: ABBV) it initially formed in 2014. The latest agreement extends the collaboration from 2022 to 2025 while allotting $500 million in additional funding from both companies. The two companies are collaborating on three clinical stage…

A recent report from the House Oversight and Reform Committee concluded that AbbVie (NYSE:ABBV) aggressively increased prices of popular drugs, including the bestseller Humira (adalimumab), which brought in close to $20 billion last year. Approximately $16 billion of those sales were in the U.S. In recent years, the company also repeatedly increased the price of…

In a complaint filed in Illinois federal court, AbbVie alleges that the Icelandic biopharma company Alvotech sought to copy its rheumatoid arthritis blockbuster biologic Humira (adalimumab).  The lawsuit accuses Alvotech of hiring a former AbbVie employee, Rongzan Ho, to help it develop a copycat version of Humira.  Ho, a team leader of upstream manufacturing for…

AbbVie (NYSE:ABBV) posted fourth-quarter earnings in line with analysts’ consensus forecast. The firm repeated its recent long-term guidance.  The North Chicago, Ill.-based biopharmaceutical company, reported revenues of $13.9 billion — a 59% increase over the prior year. The quarter’s net income was $36 million, or $0.01 per share. That was considerably less than the earnings…