AbbVie Presents Optimistic Take For 2020, Expects Quick Recovery For Botox Aesthetic
AbbVie made only a slight adjustment to its earnings-per-share guidance despite expected Q2 downturn due to the pandemic. It sees Allergan’s aesthetic business as bouncing back quickly.
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Responding to Pfizer post-marketing data indicating risk for CV events or cancer in patients taking Xeljanz, AbbVie tells Q4 earnings call that a more selective JAK inhibitor like Rinvoq will offer better safety.
AbbVie reported revenue growth during the second quarter, with products like Rinvoq and Skyrizi leading the charge. But Allergan, despite growth for Vraylar and Ubrelvy, pushed down overall performance.
The JAK1 inhibitor showed skin clearance and itch reduction in first of three Phase III trials. Analysts say blockbuster atopic dermatitis indication is possible if data hold up in ongoing studies.