Dark pool trading activity was detected in ABBV stock on January 21, 2020.
The dark pool trades look like buy orders because of how ABBV stock immediately went higher following the prints. It looks like institutional traders were buying on ABBV stock pullbacks.
On January 14, 2020, AbbVie announced that SKYRIZI met both primary and all ranked secondary endpoints, including superiority at week 52, versus Cosentyx in a head-to-head Phase 3 study.
SKYRIZI showed significantly higher rates of skin clearance compared to Cosentyx, meeting the primary endpoint of superiority with at least a 90% improvement from baseline in the Psoriasis Area and Severity Index at week 52.
Of patients treated with SKYRIZI, 87% achieved PASI 90 compared to 57% of Cosentyx-treated patients at 52 weeks. At week 16, SKYRIZI also met the other primary endpoint of non-inferiority to Cosentyx with 74% of SKYRIZI patients achieving PASI 90 compared to 66% of Cosentyx patients.
“In this study, SKYRIZI showed superior efficacy compared to Cosentyx in helping patients achieve and maintain high levels of skin clearance at week 52,” said Michael Severino, M.D., vice chairman and president, AbbVie. “Head-to-head data like these are crucial to help patients and their doctors make informed treatment decisions. We are pleased to add these results to the growing body of evidence supporting SKYRIZI as a differentiated treatment option for adults living with psoriasis.”
SKYRIZI also showed superiority compared to Cosentyx for all ranked secondary endpoints, including PASI 100, and PASI 75, as well as a static Physician Global Assessment score of clear or almost clear at week 52.
Also in January 14, 2020, AbbVie (NYSE: ABBV) announced that MAVIRET® (glecaprevir/pibrentasvir tablets) is now listed on the Newfoundland and Labrador Formulary. MAVIRET is a once-daily ribavirin-free treatment for adults and adolescent patients 12 to 18 years of age with chronic hepatitis C virus (HCV) infection across all major HCV genotypes (GT1-6). It is an 8-week, pan-genotypic treatment for patients without cirrhosis and who are new to treatment.
“As a nurse practitioner, I see firsthand the devastating effects hepatitis C has in our communities and on those living with this disease. But we can change the narrative because we have all the right tools to eliminate this disease. We have the understanding, knowledge, resources and treatments like MAVIRET, to educate and treat everyone living with hepatitis C,” says Kimberley A. Burt RN, BN, NP, Provincial Immunodeficiency Nurse Practitioner, Eastern Health, St. John’s, Newfoundland.
MAVIRET is listed on the Newfoundland and Labrador Formulary for treatment-naive or treatment-experienced adult patients with chronic hepatitis C genotype 1,2,3,4,5 or 6 infection.
“Our vision is to work together to create a province without hepatitis C. To achieve this goal, we have to continue to raise awareness, educate, support people living with and/or affected by hepatitis C, as well as advocate for change,” explains Gerard Yetman, Executive Director, AIDS Committee of Newfoundland and Labrador. “We strongly believe that the newer treatments, such as MAVIRET, will have a positive impact and help us fulfill our mandate to eliminate hepatitis C from our province.”
On January 8, 2020, AbbVie (ABBV) announced the creation of a new global business, Allergan Aesthetics, an AbbVie company, and the proposed leadership team for the combined company, effective upon the expected first-quarter 2020 close of the Allergan (AGN) acquisition.
Allergan Aesthetics will operate as a new global dedicated business with its own research and development function under the AbbVie umbrella and will include leading aesthetic products including, BOTOX Cosmetic, the JUVEDERM collection of dermal fillers and COOLSCULPTING body contouring, among others.
This global business, located in Irvine, California, will be led by Carrie Strom, currently Senior Vice President, U.S. Medical Aesthetics, Allergan. Upon completion of the Allergan acquisition, Strom will be named Senior Vice President, AbbVie and President, Global Allergan Aesthetics. She will oversee the worldwide operations, along with an experienced team of current Allergan leaders, and report directly to Richard Gonzalez, Chairman and CEO, AbbVie.
The Eye Care and Specialty businesses – including BOTOX Therapeutics, Central Nervous System, Women’s Health and Gastrointestinal Diseases – will be integrated into the existing AbbVie organization. Several Allergan leaders have accepted leadership positions in the future company across these franchises. The following individuals will make up the Executive Leadership team of the combined company: Richard A. Gonzalez, Chairman and CEO; Laura Schumacher, Vice Chairman, External Affairs and Chief Legal Officer; Michael Severino, M.D., Vice Chairman and President (including Research and Development); Carlos Alban, Vice Chairman, Chief Commercial Officer; Henry Gosebruch, Executive Vice President, Chief Strategy Officer; Robert Michael, Executive Vice President, CFO; Timothy Richmond, Executive Vice President, Chief Human Resources Officer; Azita Saleki-Gerhardt, Ph.D., Executive Vice President, Operations; Carrie Strom, Senior Vice President, AbbVie, and President, Global Allergan Aesthetics.
AbbVie (NYSE: ABBV) will announce its fourth-quarter and full-year 2019 financial results on Friday, February 7, 2020, before the market opens. AbbVie will host a live webcast of the earnings conference call at 8 a.m. Central time (9 a.m. Eastern).
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