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Latest From Stemcentrx, Inc.
AbbVie’s latest, largest acquisition may be cast in a new light as the pandemic throws stock markets into turmoil and commercial prospects up in the air.
AbbVie already wrote off $4bn of the $5.8bn Stemcentrx acquisition that gave it the antibody-drug-conjugate, but now the company has ended all Rova-T development.
While AbbVie said its $63bn purchase places little value on Allergan's R&D pipeline, the companies have 62 drugs in clinical development with 38 in Phase II and III or filed with regulators, including new indications for approved products.
Decreasing Humira’s ex-US sales guidance for the second time in three months caught significant attention, as AbbVie now expects 30% revenue erosion for its top-seller outside its home market.