In first quarter 2023 financials, the company reported a drop in net revenue of close 10%, as the impact of Humira biosimilar entry onto the market begins to bite.
Amgen is launching Amjevita, or adalimumab-atto, a biosimilar to AbbVie’s Humira, in the US; it is the first such biosimilar to the blockbuster drug in that market.
AbbVie will acquire DJS Antibodies Ltd, a privately-held UK-based biotechnology company dedicated to discovering and developing antibody medicines that target difficult-to-drug disease-causing proteins.
V-Bio Ventures, a venture capital firm supporting young pioneering biotech companies raises €110m (US$122m) in its second fund, V-Bio Fund 2, exceeding its target of €100m.
The House Committee on Oversight and Reform plans to subpoena AbbVie over pricing of Humira and Imbruvica, alleging the company repeatedly failed to comply with requests.
AbbVie frames forecast-beating ex-US sales of Humira as a consequence of prices stabilising earlier than expected after the arrival of biosimilar competitors.
Revance Therapeutics says developing a Botox biosimilar is “challenging, but not impossible” in reply to AbbVie’s dismissal of the prospect of a copy of the blockbuster coming to market.
Boehringer Ingelheim settles litigation with AbbVie over the possible introduction of its Humira biosimilar and agrees a license to market its competitor in 2023.
AbbVie receives approval from the US FDA for its newest psoriasis drug, Skyrizi, which looks set to recoup some of Humira’s revenue when it loses patent protection.
A judge has ruled in favour of AbbVie, finding that Boehringer should disclose its US launch plans for its Humira biosimilar if it wants to prove patent protection inhibited its commercial release.
AbbVie and Teneobio enter an agreement to develop and commercialize an immunotherapeutic for the treatment of multiple myeloma using the latter’s proprietary anti-CD3 platform.
Active competition law enforcement is encouraging the pharmaceutical industry to provide more affordable medicines and promotes innovation, suggests EC report.
2018 saw an increase in the number of biosimilar approvals, and the expiry of patents on major products that allowed the entry of biosimilars across Europe.
At least 80% of patients currently taking AbbVie’s blockbuster drug could be switched to “the best value biological medicine” within 12 months, according to the UK National Health Service.
The California Department of Insurance has sued AbbVie for allegedly providing monetary gifts to health-care providers for prescribing its biologic, Humira.
AbbVie’s mega-blockbuster Humira is facing biosimilar competition, but another patent licensing agreement, this time with Mylan, sees the company securing exclusivity through to 2023 in the US.
