When studies of AbbVie's chloesterol drug Niaspan raised questions about its effectiveness, analysts suggested it would lose its blockbuster status. But in the face of falling sales, AbbVie's former parent Abbott Laboratories simply raised the price.
The North Chicago, IL-based drug giant and Belgium's Galapagos have agreed to expand their collaboration on an oral JAK1 inhibitor to include Crohn's disease.
The recent layoffs of hundreds of drug sales reps mean there are fewer people in the field calling on doctors to see what they are prescribing. But they don't have to--drugmakers have found new tools that actually can tell them more about doctors' prescribing patterns than the physicians even know themselves.
The pharma giant has secured rights to an experimental therapy for celiac disease from Alvine Pharmaceuticals for $70 million in upfront payments and the promise of more money down the road.
AbbVie filed forms with the SEC on Friday saying that John Leonard, the company's senior vice president and CSO, will be leaving in the coming months.
The epidemic of retirements among top R&D executives is continuing with the news that AbbVie's senior researcher is headed for the exits. AbbVie filed forms with the SEC on Friday saying that John Leonard, the company's senior vice president and CSO will be leaving in the coming months. And the company says that one of his last acts will be advising the company on his successor.
Pfizer's spinoff of its animal health business into Zoetis is the biggest IPO this year. And the spinoff that created the newest Big Pharma company, AbbVie, was no slouch.
After all, investors and shareholders responded strongly to Pfizer's animal-health spinoff and nutrition-unit sale--so much so that analysts are calling on CEO Ian Read for more.
Want to see more divestment action in Big Pharma? Just wait. That's what investment bankers are predicting, now that Pfizer and AbbVie have led the way.
AbbVie and InterMune may have won at least a temporary reprieve in their fight to stop the EMA from releasing trial data on their drugs.