AbbVie

Test tubes are seen in front of a displayed AbbVie logo in this illustration taken on May 21, 2021.Dado Ruvic | ReutersAbbVie on Tuesday said longtime executive Robert Michael will become the company's new CEO, replacing Richard Gonzalez. Michael, who is AbbVie's president and chief operating officer, will become the company's second-ever CEO on July 1. Gonzalez, who has led the company since it spun out from Abbott Laboratories in 2013, will retire and become AbbVie's executive chairman. The announcement marks an end to…

A sign stands outside a Abbvie facility in Cambridge, Massachusetts, May 20, 2021.Brian Snyder | ReutersAbbVie on Wednesday said it will acquire neuroscience drugmaker Cerevel Therapeutics for roughly $8.7 billion. Under the terms of the deal, AbbVie will pay $45 per share for Cerevel. AbbVie said it expects to complete the acquisition in the middle of 2024. Shares of Cerevel jumped 16% after the close Wednesday to nearly $43 per share, just below the purchase price. Shares of Abbvie were down less than 1% in extended…

Test tubes are seen in front of a displayed AbbVie logo in this illustration taken on May 21, 2021.Dado Ruvic | ReutersBiotech stocks rose Thursday as AbbVie announced plans to buy cancer drug developer ImmunoGen for $10.1 billion. Shares of ImmunoGen jumped more than 80% Thursday, putting it on track for its highest close since November 2000. Meanwhile, AbbVie's stock rose more than 2%. ImmunoGen develops cancer drugs called antibody-drug conjugates, or ADCs, which are designed to directly kill cancer cells and spare…

A recently approved preventative migraine drug called atogepant (branded Qulipta) seems to help even the most difficult cases, preliminary research out this week has found. The study showed that patients who hadn’t responded to other treatments experienced noticeably fewer days without migraine while on atogepant than those given a placebo. The Food and Drug Administration expanded the drug’s intended use this month, approving it for adults with chronic migraines.Won’t Virtual Reality Make Me Sick?Atogepant was developed…

U.S. health officials released the first list of drugs paid for by the government’s Medicare insurance program whose prices went up more than the rate of inflation and will face a penalty under a new federal law.The Centers for Medicare and Medicaid Services on Wednesday named 27 drugs that had the large price increases, including  rheumatoid-arthritis treatment Humira from AbbVie Inc. and Yescarta lymphoma therapy from Gilead Sciences Inc., and will face the…

Pharmaceutical companies raised list prices of 983 arthritis, cancer and other prescription drugs by an average of 5.6% at the start of this year—restrained increases as the industry faces a new federal law aimed at lowering medicine costs. Pfizer Inc., Novartis AG and Eli Lilly & Co. are among the companies that took the price increases through Jan. 31, according to 46brooklyn Research, a nonprofit drug-pricing analytics group. In recent…

AbbVie Inc.’s ABBV 0.65% arthritis therapy Humira is set to face its first competition in the U.S. from a near-identical copycat, the end of the exclusive run of what was for years the country’s biggest-selling drug.After two decades of patent protection and more than $135 billion in U.S. sales, Humira will contend with the near-identical version from Amgen Inc. AMGN 0.17% starting Tuesday, Amgen said. Other Humira…

Pharmaceutical companies are grappling with the arrival in the U.S. of sweeping new legislation meant to blunt drug prices. The impact in 2023 may actually be higher drug prices. President Biden last year signed into law the bill dubbed the Inflation Reduction Act, empowering Medicare, the country’s biggest buyer of prescription drugs, to negotiate how much it pays for certain high-price therapies. Another provision set a cap on price increases that requires drugmakers to pay Medicare rebates on treatments whose prices…

Starting next year the highest-grossing drug of all time, AbbVie ABBV 0.14% ‘s Humira, will finally face competition from copycat biologics in the U.S. Yet the makers of the complex generics known as biosimilars won’t necessarily be the biggest winners. The top beneficiaries could instead be the middlemen such as Cigna CI 1.27% and CVS Health, CVS…

Johnson & Johnson JNJ 1.22% is a name familiar to generations of consumers for its baby powder, Band-Aid bandages and Tylenol medicines. The new home of those medicine-cabinet mainstays is known by practically no one. J&J said Wednesday that it would name the company that will house its consumer-health products Kenvue. The healthcare-products giant said last year that it would separate that unit, with $15 billion in annual…