Positive CHMP Opinion for AbbVie's RINVOQ in Vitiligo, Potential First Systemic Treatment
ABBV sits 39% above its 52-week low of $181.73 on elevated volume (7.5× avg).
Summary
AbbVie's drug, upadacitinib (RINVOQ®), received a positive opinion from the European Medicines Agency's CHMP for treating non-segmental vitiligo in adults and adolescents. This is a strong recommendation for EU approval and follows recent positive news for RINVOQ® demonstrating superiority over Humira. If approved, RINVOQ® would be the first systemic medication for non-segmental vitiligo, addressing a significant unmet medical need and expanding a key growth driver for AbbVie. The final European Commission decision is expected in the coming months.
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 8 out of 10. Source: PR Newswire.