EU Approves Rinvoq as First Systemic Therapy for Vitiligo; AbbVie Raises Guidance
ABBV sits 35% above its 52-week low of $187.62.
Summary
The European Commission approved Rinvoq for severe alopecia areata and non-segmental vitiligo in patients 12+, making it the first systemic therapy authorized in Europe for vitiligo. This follows a positive CHMP opinion in late June and significantly expands Rinvoq's market. AbbVie also reported Q2 revenue of $16.99B (+10.2% YoY) and narrowed its full-year adjusted EPS guidance to $13.87–$14.07, reflecting confidence in its immunology portfolio. Barclays raised its price target to $300, citing the Apogee acquisition and pipeline momentum. The dual catalysts of a first-in-class approval and raised guidance strengthen AbbVie's post-Humira growth narrative.
At the time of this announcement, ABBV was trading at $252.93 on NYSE in the Life Sciences sector, with a market capitalization of approximately $443.4B. The 52-week trading range was $187.62 to $267.47. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Wiseek News.