The Zacks Analyst Blog AbbVie's, Rinvoq and AstraZeneca's and Novartis

Core Insights - The European Commission has granted marketing authorization for the expanded use of AbbVie's Rinvoq and AstraZeneca's cancer drugs, Imfinzi and Enhertu, indicating positive regulatory developments for these companies [2][4][6][8] - Novartis plans to invest 23 billion over the next five years to enhance its manufacturing and R&D capabilities in the United States, reflecting a strategic shift towards domestic production amid tariff threats [10][11][12] Company Developments - AbbVie's Rinvoq has received approval for treating giant cell arteritis, marking its eighth indication, with ongoing studies for additional autoimmune diseases [4][5] - AstraZeneca's Imfinzi has been approved for use in combination with chemotherapy for non-small cell lung cancer, and Enhertu has received approval for treating specific types of metastatic breast cancer [6][8][9] - Novartis aims to produce 100% of its key medicines in the U.S. through its 23 billion investment, which will create approximately 5,000 new jobs [10][11] Market Context - The pharmaceutical sector has faced challenges, with the NYSE ARCA Pharmaceutical Index declining by 9.8% over the past five trading sessions, and all major stocks in the sector showing negative performance [12][13] - AbbVie experienced the most significant decline among major stocks, dropping by 13.6% in the last five trading sessions [12]