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Biotech Stocks Facing FDA Decision In September 2021

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AbbVie
AbbVie

The FDA decision on AbbVie Inc.’s (ABBV) Rinvoq in the proposed additional indication of moderate to severe atopic dermatitis in adults and adolescents is due this quarter.

Rinvoq, known generically as Upadacitinib, is already approved in the U.S. for the treatment of adult patients with moderate to severe rheumatoid arthritis. In the European Union, the drug is approved for the treatment of rheumatoid arthritis, active psoriatic arthritis (PsA) and active ankylosing spondylitis.

The annual sales of Rinvoq in 2020 were $731 million, with peak sales estimated to be in excess of $2 billion by 2023, according to analysts.

ABBV closed Friday’s (Aug.27, 2021) trading at $119.58, down 0.68%.