Sign up USA
Proactive Investors - Run By Investors For Investors

Abbvie shares rising in New York on eczema drug news

The news led to a fall in rival Regeneron (NASDAQ:REGN), which shed over 5.6%
Abbvie shares rising in New York on eczema drug news
eczema is a skin condition

US drugs giant Abbvie (NYSE:ABBV) gained 6% in New York on news of its drug upadacitinib, which has met a mid-stage study goal.

The candidate is used to treat adults with moderate-to-severe eczema - a chronic skin disorder. 

The news in turn led to a fall in US rival Regeneron (NASDAQ:REGN), which shed over 5.6% to stand at $472 each.

Regeneron's drug Dupixent was approved by the US Food and Drug Administration in March this year.

Broker Jefferies said in a note that AbbVie’s mid-stage trial data for its drug, upadacitinib, seemed comparable to Dupixent’s late-stage data and the two treatments could be competitors.

Abbvie reportedly is planning a late-stage study for upadacitinib next year, and shares rose nearly 3% in late morning trading.

Abbvie shares were up 6.19% at the time of writing at $81.82 each.

View full ABBV profile View Profile

Abbvie Timeline

Related Articles

the word antioxidant
August 15 2017
The heparin test is the firm’s lead product; however the company’s OxiChek device for oxidative stress is also gaining traction
pregnant woman sitting in park
June 13 2017
The £225,000 order is from HuanZhong Biotech, Concepta’s partner in China
diagram of the human microbiome
September 13 2017
OptiBiotix is a pioneer in the human microbiome, which is essentially the bacteria that inhabits the gut and skin
Copyright © Proactiveinvestors.com, 2017. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use