FDA Approves Skyrizi for Pediatric Psoriasis, Expanding Key Drug's Market
ABBV sits 39% above its 52-week low of $181.73 on elevated volume (7.5× avg).
Summary
The FDA has approved AbbVie's immunology drug Skyrizi for two new pediatric indications: moderate-to-severe plaque psoriasis in children 6+ and pediatric active psoriatic arthritis. This regulatory expansion significantly broadens the addressable market for Skyrizi, a key revenue driver for AbbVie. The news reinforces AbbVie's strong position in immunology, following its recent $10.9 billion acquisition of Apogee Therapeutics to bolster this portfolio. Investors will look to the upcoming Q2 earnings report on July 31st for further insights into Skyrizi's sales trajectory and overall company performance.
At the time of this announcement, ABBV was trading at $253.00 on NYSE in the Life Sciences sector, with a market capitalization of approximately $447.6B. The 52-week trading range was $181.73 to $253.35. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Wiseek News.