Hot pharma stock to watch: AbbVie Inc (NYSE: ABBV)

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AbbVie Inc (NYSE: ABBV) stock rose over 5.3% on April 26th, 2018 (as of 1:23 PM GMT-4 ; Source: Google finance). For the first quarter of 2018, the Worldwide net revenues rose 21.4% yoy to $7.934 billion, on a GAAP basis. The group raised their GAAP diluted EPS for the full-year 2018 to $6.82 to $6.92 while raised EPS guidance range for the full-year 2018 from $7.33 to $7.43 to $7.66 to $7.76.

Global HUMIRA sales rose 14.4% on a reported basis, or 10.7 percent operationally, excluding a 3.7 percent favorable impact from foreign exchange. In the U.S., HUMIRA sales rose 11.4 percent in the quarter while Internationally, HUMIRA sales surged 9.3 percent, excluding a 10.7% on the back of positive impact from foreign exchange. Global IMBRUVICA net revenues were $762 million, with U.S. sales of $624 million and international profit sharing of $138 million for the quarter, which is a rise of 38.5 percent. The global HCV net revenues reached $919 million

The group also submitted a Biologics License Application (BLA) to the U.S. Food and Drug Administration (FDA) for risankizumab for treating patients with moderate to severe plaque psoriasis. They intend to submit its regulatory filing with the European Medicines Agency (EMA) soon. Positive data was seen from the global risankizumab Phase 3 psoriasis program evaluating more than 2,000 patients with moderate to severe chronic plaque psoriasis across four Phase 3 studies: ultIMMa-1, ultIMMa-2, IMMhance and IMMvent. Risankizumab is being developed in collaboration with Boehringer Ingelheim.

The group presented new positive results from the pivotal Phase 3 ultIMMa-1 and ultIMMa-2 replicate clinical trials while risankizumab met all co-primary and ranked secondary endpoints, showing a solid higher rates of skin clearance at week 16 and at one year of treatment, against ustekinumab. They reported a positive top-line results from the Phase 3 SELECT-COMPARE trial, which evaluated the company’s oral JAK-1 selective inhibitor, upadacitinib, in patients with moderate to severe rheumatoid arthritis who were on a stable background of methotrexate and had an inadequate response. The group forecasts to report data from a further pivotal study (SELECT-EARLY) and submit regulatory applications later this year, with commercialization expected in 2019.

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