EU Approves AbbVie's Fast-Acting Frown Line Treatment Boey
ABBV sits 39% above its 52-week low of $184.63.
Summary
The European Commission approved AbbVie's Boey for moderate to severe glabellar lines, marking the first botulinum neurotoxin serotype E approved in Europe. Clinical data show onset as early as eight hours with effects lasting two to three weeks, a differentiated profile from existing toxins. This follows a June approval in Canada and comes after the FDA declined to approve a different AbbVie wrinkle treatment in April due to manufacturing issues. Boey expands AbbVie's aesthetics portfolio and provides a new growth avenue in the competitive neurotoxin market. The approval adds a near-term revenue catalyst as AbbVie integrates its recent $10.9B Apogee Therapeutics acquisition.
At the time of this announcement, ABBV was trading at $256.86 on NYSE in the Life Sciences sector, with a market capitalization of approximately $449.5B. The 52-week trading range was $184.63 to $261.64. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: dpa-AFX.