AbbVie (ABBV) Files for Skyrizi to Treat Crohn's Disease in EU
Zacks Investment Research | Dec 01, 2021 01:52AM ET
AbbVie, Inc. industry ’s 11.8% rise.
Please note that Skyrizi is already approved in the EU for two indications - plaque psoriasis and active psoriatic arthritis.
The drug is also approved in the United States for the plaque psoriasis indication. Two supplemental new drug applications seeking approval for Skyrizi to treat active psoriatic arthritis and CD are currently under review by the FDA.
Apart from the above indications, AbbVie is currently evaluating Skyrizi in a phase III study for ulcerative colitis.
AbbVie is developing Skyrizi in collaboration with Boehringer Ingelheim, with AbbVie leading the global development and commercialization of Skyrizi.
AbbVie remains focused on strengthening its focus on Skyrizi and its other drug Rinvoq to gradually lower its dependence on Humira, the company’s blockbuster drug, sales of which are declining due to biosimilars that are eroding AbbVie’s yearly international sales. Humira biosimilars are expected to be launched in the United States in 2023.
Both Skyrizi and Rinvoq demonstrated differentiated clinical profiles compared to Humira. With many new indications coming in the next couple of years, AbbVie expects sales of these two drugs to be higher with the potential to replace Humira.
Skyrizi generated sales worth $2.04 billion in the first nine months of 2021, while Rinvoq generated sales worth $1.33 during the same period.
AbbVie Inc (NYSE:ABBV). Price
.Endo International’s earnings per share estimates for 2021 have increased from $2.32 to $2.84 in the past 30 days. The same for 2022 has increased from $2.25 to $2.47 in the past 30 days.
Earnings of Endo International beat estimates in all the last four quarters, the average being 57.7%.
GlaxoSmithKline’s earnings estimates per share for 2021 have increased from $2.90 to $3.06 in the past 30 days. The same for 2022 has increased from $3.15 to $3.26 in the past 30 days. Shares of Glaxo have risen 11.7% in the year so far.
Earnings of GlaxoSmithKline beat estimates in three of the last four quarters and missed expectations on one occasion, the average surprise being 15.3%.
IVERIC bio’s loss per share estimates for 2021 have narrowed from $1.18 to $1.12 in the past 30 days. The same for 2022 has narrowed from $1.17 to $1.10 in the past 30 days. Shares of IVERIC bio have gained 111.6% in the year so far.
Get The News You Want
Earnings of IVERIC bio missed estimates in three of the last four quarters and surpassed expectations once, the negative surprise being 5.6%, on average.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
You know this company from its past glory days, but few would expect that it's poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks' Stocks Set to Double like Boston Beer (NYSE:SAM) Company which shot up +143.0% in a little more than 9 months and Nvidia (NASDAQ:NVDA) which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Zacks Investment Research
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.