07.21.14
Headquarters: North Chicago, IL
twitter.com/abbvie
www.abbvie.com
Top Selling Drugs
AbbVie’s CEO Richard Gonzalez is optimistic about the company’s first year as an independent company. The Abbott Laboratories spinoff became its own company on January 1, 2013. That year, it also added to its pipeline, saw sales of its best selling Humira grow by 15%, and moved several late stage compounds into Phase III studies.
FDA recently named AbbVie’s experimental Hepatitis C compound a “breakthrough therapy,” and EU regulators have also validated it, and AbbVie has launched Phase II studies for ABT- 199 for chronic lymphocytic lymphoma, and veliparib for triple-negative breast cancer.
Shire rejects repeated offer
AbbVie recently launched a $46-billion bid for the Ireland-based pharma company, Shire. Both CEO and chief science officer travelled to Europe to make presentations to the shareholders. However, Shire has so far rejected the bid, Reuters reported last month, citing an inadequate offer price. Acquisition of that company would add to AbbVie’s neurological treatment portfolio, and also provide a potential offshore location for tax-saving “inversion.”
AbbVie currently has more than 20 compounds (or new uses of existing compounds) in Phase II or III development. R&D focuses on immunology, virology, oncology, kidney disease, neurological diseases and women’s health.
The company has extended applications for Humira to 10, including goastroenerology, dermatology and ophthalmology, as the drug is approved for rheumatoid arthritis, psoriatic arthritis, ankylosing spondylitis, Crohn’s disease, plaque psoriasis, juvenile diopathic arthritis, ulcerative colitis, axial spondyloarthritis. Forbes.com columnist Simon King has projected that the drug could overtake Pfizer’s Lipitor as the top-selling pharmaceutical of the past 15 years.
AbbVie is also working on autoimmune treatments, with tregalizumab, in collaboration with Biotest AG, and with GLPG0634, Janus Kinase 1 inhibitor, with Galapagos NV. Last year, AbbVie formed a collaboration with Ablynx NV to commercialize the anti-IL-6R antibody ALX-0061, to treat rheumatoid arthritis and systemic lupus erythematosus. In May of last year, the company entered into research with Alvine Pharmaceuticals, Inc. to develop ALV003, a new treatment for patients with celiac disease.
Once Monthly Treatment for MS
In its neurological product pipeline, the company and Biogen Idec have developed a once-monthly multiple sclerosis drug, daclizumab, which recently met requirements of Phase III testing. The drug would treat relapse remitting MS.
A levodopa-carbidopa gel for treating Parkinson’s disease has been submitted for FDA approval. AbbVie is starting Phase III clinical trials for its investigational cancer treatment, veliparib (ABT-888), in combination with carboplatin and paclitaxel, for treating patients with advanced breast cancer.
The test will compare the combination of veliparib, carboplatin and paclitaxel to treatment with carboplatin, paclitaxel and placebo in patients with human epidermal growth factor receptor 2-(HER2) negative metastatic or locally-advanced breast cancer, containing BRCA1 and/or BRCA2 gene mutations.
This year, media report, AbbVie and Abbott Laboratories face patient lawsuits in Chicago alleging failure to warn, via labelling, the potential cardiovascular safety risks of their testosterone supplements, including Abb Vie’s AndroGel.
twitter.com/abbvie
www.abbvie.com
Headcount: | 25,000 | |
Year Established: | 2013 | |
Pharma Revenues: | $18,790 | 2% |
Net Income: | $4,128 | -7% |
R&D Budget: | $2,855 | 3% |
Top Selling Drugs
Drug | Indication | 2013 Sales | (+/-%) |
Humira | arthritis | $10,659 | 6% |
AndroGel | low-T | $1,035 | -5% |
Kaletra | HIV | $962 | -3% |
AbbVie’s CEO Richard Gonzalez is optimistic about the company’s first year as an independent company. The Abbott Laboratories spinoff became its own company on January 1, 2013. That year, it also added to its pipeline, saw sales of its best selling Humira grow by 15%, and moved several late stage compounds into Phase III studies.
FDA recently named AbbVie’s experimental Hepatitis C compound a “breakthrough therapy,” and EU regulators have also validated it, and AbbVie has launched Phase II studies for ABT- 199 for chronic lymphocytic lymphoma, and veliparib for triple-negative breast cancer.
Shire rejects repeated offer
AbbVie recently launched a $46-billion bid for the Ireland-based pharma company, Shire. Both CEO and chief science officer travelled to Europe to make presentations to the shareholders. However, Shire has so far rejected the bid, Reuters reported last month, citing an inadequate offer price. Acquisition of that company would add to AbbVie’s neurological treatment portfolio, and also provide a potential offshore location for tax-saving “inversion.”
AbbVie currently has more than 20 compounds (or new uses of existing compounds) in Phase II or III development. R&D focuses on immunology, virology, oncology, kidney disease, neurological diseases and women’s health.
The company has extended applications for Humira to 10, including goastroenerology, dermatology and ophthalmology, as the drug is approved for rheumatoid arthritis, psoriatic arthritis, ankylosing spondylitis, Crohn’s disease, plaque psoriasis, juvenile diopathic arthritis, ulcerative colitis, axial spondyloarthritis. Forbes.com columnist Simon King has projected that the drug could overtake Pfizer’s Lipitor as the top-selling pharmaceutical of the past 15 years.
AbbVie is also working on autoimmune treatments, with tregalizumab, in collaboration with Biotest AG, and with GLPG0634, Janus Kinase 1 inhibitor, with Galapagos NV. Last year, AbbVie formed a collaboration with Ablynx NV to commercialize the anti-IL-6R antibody ALX-0061, to treat rheumatoid arthritis and systemic lupus erythematosus. In May of last year, the company entered into research with Alvine Pharmaceuticals, Inc. to develop ALV003, a new treatment for patients with celiac disease.
Once Monthly Treatment for MS
In its neurological product pipeline, the company and Biogen Idec have developed a once-monthly multiple sclerosis drug, daclizumab, which recently met requirements of Phase III testing. The drug would treat relapse remitting MS.
A levodopa-carbidopa gel for treating Parkinson’s disease has been submitted for FDA approval. AbbVie is starting Phase III clinical trials for its investigational cancer treatment, veliparib (ABT-888), in combination with carboplatin and paclitaxel, for treating patients with advanced breast cancer.
The test will compare the combination of veliparib, carboplatin and paclitaxel to treatment with carboplatin, paclitaxel and placebo in patients with human epidermal growth factor receptor 2-(HER2) negative metastatic or locally-advanced breast cancer, containing BRCA1 and/or BRCA2 gene mutations.
This year, media report, AbbVie and Abbott Laboratories face patient lawsuits in Chicago alleging failure to warn, via labelling, the potential cardiovascular safety risks of their testosterone supplements, including Abb Vie’s AndroGel.