AbbVie’s Cancer Expansion Is Paying Off
Label-expansion plans for Imbruvica, along with approvals for Venclexta and Rova-T headline AbbVie's efforts to build a substantial cancer portfolio. The BTK inhibitor was AbbVie's second-best seller in 2016, passing HCV combo Viekira Pak.
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Analysts already were skeptical about AbbVie's $5bn peak earnings projections for the ADC, but now some wonder if so-so data in third-line small cell lung cancer threaten Rova-T's viability for approval.
CEO says the idea of forming one company around Humira and its earnings and another around the R&D pipeline holds merit but he wants to wait to see the outcome of US tax reform, which could address some of AbbVie's issues.
The failure of veliparib in Phase III studies of squamous NSCLC and triple-negative breast cancer is a blow for AbbVie's oncology pipeline, but may not have implications for other PARP inhibitors in new tumor types.