ToplineThe Food and Drug Administration said Friday it granted full approval to AbbVie and ImmunoGen’s cancer drug mirvetuximab-soravtansine-gynx, or Elahere, part of a new class of cancer treatments considered “biological missiles” because of their ability to precisely home in on cancer cells.FILE - A sign for the U.S. Food and Drug Administration is displayed outside their offices in Silver ... [+] Spring, Md., Dec. 10, 2020. (AP Photo/Manuel Balce Ceneta, File)Copyright 2020 The Associated Press. All rig ...

-       The full approval of ELAHERE is based on the confirmatory MIRASOL Phase 3 trial that supports the medicine as a potential new standard of care for folate receptor alpha (FRα)-positive, platinum-resistant ovarian cancer (PROC) -       Data show that ELAHERE treatment resulted in an overall survival benefit and reduced the risk of cancer progression by 35% -       ELAHERE represents AbbVie's first approved solid tumor treatment following the recent acquisition of ImmunoGen NORTH CHICAGO, Ill., March 2 ...

Finding high-yielding companies isn't everything when investing in dividend stocks. Sometimes, companies' yields increase after their share prices drop significantly, which can occasionally be a sign that the business could be in trouble and may have to decrease its payouts. So before investing in a high-yield dividend stock, it's essential to ensure that its underlying business is solid and will likely continue to hike its dividends.Let's look at two companies with yields higher than the S&P 500 average th ...

AbbVie Inc. (NYSE:ABBV) Barclays 26th Annual Global Healthcare Conference Call March 14, 2024 9:00 AM ET Company Participants Rob Michael - President & Chief Executive Officer Scott Reents - Executive Vice President & Chief Financer Roopal Thakkar - Senior Vice President of Development & Regulatory Affairs and Chief Medical Officer Jeff Stewart - Executive Vice President & Chief Commercial Officer Conference Call Participants Carter Gould - Barclays Carter Gould Good morning and welcome to Day 3 of the Barc ...

AbbVie Inc. (NYSE:ABBV) Conference Call Summary Company Overview - **Company**: AbbVie Inc. - **Event**: Barclays 26th Annual Global Healthcare Conference Call - **Date**: March 14, 2024 - **Participants**: Rob Michael (CEO), Scott Reents (CFO), Roopal Thakkar (CMO), Jeff Stewart (CCO) Key Points R&D Investment Strategy - AbbVie has shifted its approach to R&D investment, now viewing it as essential for identifying growth assets for the next decade [2][3] - Approximately 50% of the R&D increase is attributed to internal programs, including promising candidates like 400 (next-generation ADC) and 383 (BCMA CD3 bispecific for multiple myeloma) [3][4] - The company anticipates a ramp-up in sales growth starting next year, supporting continued R&D investment, which is currently around 14% of sales [4] Financial Performance and Projections - Operating margin is expected to remain flat for 2023 and 2024 at 46.5%, with expansion anticipated from 2025 onwards due to sales growth [5][6] - Gross margin is stabilizing around 84%, with operating margin expansion driven by efficiencies in SG&A [5] Oncology Pipeline - AbbVie is optimistic about its BCMA asset (383), which shows high efficacy and safety, potentially allowing it to compete effectively against CAR-T therapies [8][9] - The company plans to initiate a Phase III trial for 383 in the third line of therapy this year [10] - ImmunoGen acquisition is progressing well, with strong integration and positive momentum in the ADC market [15][16] Neuroscience Developments - The Cerevel acquisition is expected to close mid-year, with confidence in its non-anticompetitive nature [28][30] - AbbVie is creating a new market segment with its product 951 for advanced Parkinson's disease, targeting over 500,000 patients globally [32][33] Immunology and Market Dynamics - For 2024, AbbVie projects a revenue decline for Humira of approximately $7.8 billion (36%), primarily driven by price erosion [35] - Skyrizi and Rinvoq are expected to see significant growth, with Skyrizi projected to grow by 50% and Rinvoq by 60% despite some volume erosion [39] Future Indications and Market Opportunities - New indications for Rinvoq include lupus and hidradenitis suppurativa, which are established markets with strong potential for growth [41][42] - The company believes it has a competitive advantage in these markets due to its extensive safety data and established presence [43][44] Additional Insights - AbbVie is focused on leveraging its oncology assets to capture market share in both colorectal and ovarian cancers, with promising data supporting its ADC programs [24][26] - The company is actively exploring combination therapies and earlier lines of treatment to enhance its market position [23][25] This summary encapsulates the key discussions and insights from AbbVie's recent conference call, highlighting its strategic focus on R&D, financial outlook, and growth opportunities across various therapeutic areas.

In the latest trading session, AbbVie (ABBV) closed at $179.86, marking a -0.59% move from the previous day. The stock fell short of the S&P 500, which registered a loss of 0.19% for the day. Elsewhere, the Dow gained 0.1%, while the tech-heavy Nasdaq lost 0.54%.The drugmaker's shares have seen an increase of 4.4% over the last month, surpassing the Medical sector's gain of 2.91% and the S&P 500's gain of 3.18%.The upcoming earnings release of AbbVie will be of great interest to investors. The company's upc ...

AbbVie (ABBV) has been one of the most searched-for stocks on Zacks.com lately. So, you might want to look at some of the facts that could shape the stock's performance in the near term.Over the past month, shares of this drugmaker have returned +3.8%, compared to the Zacks S&P 500 composite's +2.1% change. During this period, the Zacks Large Cap Pharmaceuticals industry, which AbbVie falls in, has gained 3.2%. The key question now is: What could be the stock's future direction?While media releases or rumor ...

In investing, where uncertainty often reigns high, dividend kings are the beacons of income stability and growth. Among them, three companies hold enduring leads. These titans build reliable income streams through dividends with considerable resilience in navigating turbulent macro-environments. They offer decades of constant dividend growth and solid financial fundamentals with market dominance.The first one, with its illustrious history spanning over six decades of consecutive dividend boosts, sets the st ...

At first glance, another gangbusters jobs report seems to imply that dividend stocks are irrelevant. It’s all about growth, baby! Well, maybe not.According to The Wall Street Journal, labor market growth continues – that’s the good news. However, the not-so-great news is that there are signs of a cooling employment arena. One of the yellow flags is that the unemployment rate ticked up to 3.9%. That was higher than expected. Also, wage growth slowed, which isn’t what you want to see for a growth-based thesis ...

Pharmaceutical companies play a tremendous role in modern healthcare. While sometimes controversial, drugmakers design medicine to treat some of the worst ailments plaguing society and constantly innovate to improve human life.Their long-term relevance in healthcare makes the pharmaceutical business an excellent place for investors to find long-term investment ideas. These three stocks offer investors a mix of solid financials, long-term upside, and passive income.A high-yield dividend stockPfizer (PFE 1.60 ...