AbbVie shares hit record high as key immunology drug set for exclusivity until 2037

Core Viewpoint - AbbVie shares increased by 4% to a record high following the announcement that there will be no generic competition for its immunology drug Rinvoq until 2037, extending the exclusivity period by four years [1] Company Summary - AbbVie is a U.S. drugmaker known for its immunology drug Rinvoq, which has been a significant contributor to its revenue [1] - The extension of exclusivity until 2037 is a positive development for AbbVie, as it allows the company to maintain its market position without facing generic competition for an additional four years [1] Industry Summary - The pharmaceutical industry is impacted by patent expirations and the introduction of generic drugs, which can significantly affect revenue streams for companies [1] - AbbVie's ability to extend the exclusivity of Rinvoq highlights the competitive landscape within the immunology sector, where companies strive to protect their blockbuster drugs from generic competition [1]