PFE - AbbVie's FDA Approval For RINVOQ Sets Up First Phase Of Deployment Plan To Counter Humira Issue
AbbVie (ABBV) announced that it had received FDA approval for updatacitinib to be marketed as RINVOQ. It was approved to treat patients with rheumatoid arthritis. It is estimated that this drug alone for this indication could bring in multi-billion dollars for the company. This is good news, especially when you consider that AbbVie will soon face a surge of biosimilars for its blockbuster drug Humira in the coming years. In order to alleviate the pain of losing sales of Humira, the company has even gone as far as to acquire BOTOX maker Allergan