Positive EU Regulatory Opinion for AbbVie's Maviret Hepatitis C Treatment
ABBV sits 19% above its 52-week low of $180.25.
Summary
European regulators have issued a positive opinion recommending approval for AbbVie's hepatitis C treatment, Maviret, for both acute and chronic infections in adults and children aged 3 and older. This is a crucial step towards expanding Maviret's market in the European Union, where a final decision is anticipated in the third quarter. The drug demonstrated a 96% cure rate in late-stage trials and is already approved in several other major markets. This positive development follows a period of mixed news for AbbVie, including recent strong Q1 results and positive data for Rinvoq, alongside an FDA decline for a wrinkle treatment.
At the time of this announcement, ABBV was trading at $215.00 on NYSE in the Life Sciences sector, with a market capitalization of approximately $379B. The 52-week trading range was $180.25 to $244.81. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.