AbbVie: The Abbott Spinoff Arrives, But What’s Next?

It is now official – AbbVie exists. For those who may not recall, AbbVie is the so-called research-based pharma that has been spun off by Abbott Laboratories and features a portfolio of existing medicines, such as Humira and Synthroid, along with a pipeline of some 20 compounds in Phase II or Phase III development. One question, though, is what kind of shelf life will AbbVie actually have? On one hand, there is Humira, a biologic that is approved to treat rheumatoid arthritis, psoriasis and Crohn’s disease, where the average treatment penetration rate is below 20 percent, notes Damien Conover, who heads pharma research at Morningstar, in an investor report today. And Humira is a huge seller that is expected to generate some $10 billion in sales this year alone, reflecting the growth potential in those illnesses. And while patent protection expires in 2016, the medication is a complex biologic, suggesting the likelihood that generic rivals will appear immediately may not be high. Then again, Abbott (ABT) – or AbbVie – is not taking any chances. Last year, the drugmaker petitioned the FDA not to approve any biosimilar for Humira on the grounds that the FDA would have no choice but to use trade secrets submitted to the agency when approval for Humira was first sought (back story). And recently, Pfizer won approval for its Xeljanz pill for RA (see this). Meanwhile, AbbVie (ABBV) cardiovascular drugs – Tricor, Trilipix and Niaspan – represent 1...
Source: Pharmalot - Category: Pharma Commentators Authors: Tags: Uncategorized Abbott Laboratories Abbvie Humira Pfizer Rheumatoid Arthritis Source Type: blogs