AbbVie $ABBV Stock Breaks Below 200 Day Moving Average

  • Post category:Biotechnology
  • Reading time:2 mins read
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AbbVie $ABBV stock broke below its 200 day moving average on March 9, 2023. The stock also broke below uptrend channel support.

Abbvie stock chart on March 9 2023 with a break below the 200 day moving average
Abbvie stock chart on March 9, 2023, with a break below the 200 day moving average

Abbvie is a global biopharmaceutical company that focuses on the discovery, development, and commercialization of innovative medicines in various therapeutic areas. Some of the areas of focus for Abbvie include immunology, oncology, neuroscience, virology, and women’s health. The company’s portfolio includes drugs used to treat conditions such as rheumatoid arthritis, psoriasis, Crohn’s disease, Parkinson’s disease, and cancer. Abbvie also has a strong pipeline of investigational drugs, with a focus on developing therapies for diseases with high unmet medical needs.

AbbVie receives CHMP opinion recommending approval for upadacitinib

AbbVie reported on February 27, 2023, that the Committee for Medicinal Products for Human Use, or CHMP, of the European Medicines Agency had recommended the approval of upadacitinib, 45 mg, 15 mg, and 30 mg for the treatment of adult patients with moderately to severely active Crohn’s disease who had an insufficient response, lost response, or were intolerable to either conventional therapy or a biologic agent.

“The recent CHMP recommendation to approve upadacitinib for use in Crohn’s disease is a momentous step, bringing us closer to offering a first-of-its-kind, once-daily oral treatment that can make a difference for people living with this disease,” said Roopal Thakkar, M.D., senior vice president, development, regulatory affairs and chief medical officer, AbbVie. “We remain steadfast in our commitment to researching and developing treatment options as part of a diverse portfolio of therapies for those living with inflammatory bowel diseases.”

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