EU Approves AbbVie's Rinvoq for Vitiligo and Alopecia, a First Systemic Option
ABBV sits 42% above its 52-week low of $187.62.
Summary
The European Commission approved Rinvoq for severe alopecia areata and non-segmental vitiligo, making it the first systemic treatment for the latter in Europe. This follows a positive CHMP opinion in late June and expands the blockbuster drug's label into two new autoimmune indications with significant unmet need. AbbVie has guided Rinvoq revenue above $10 billion this year, and these approvals strengthen that trajectory. The decision also reinforces the immunology pipeline momentum following the $10.9 billion Apogee Therapeutics acquisition announced in June.
At the time of this announcement, ABBV was trading at $265.50 on NYSE in the Life Sciences sector, with a market capitalization of approximately $465B. The 52-week trading range was $187.62 to $266.92. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.