The European Union’s medical advisory committee endorsed approving key products for three major drugmakers Friday, two of them expected to be blockbusters. AbbVie (ABBV) got the thumbs up for its all-oral hepatitis C combo, which now has brand names. The Committee on Medical Products for Human Use, which goes by its French acronym CHMP, endorsed Viekirax and Exviera for genotype 1 of the hepatitis C virus, with or without the generic drug
Big pharma AbbVie beat analysts’ Q3 estimates and raised its guidance Friday, sending its stock up 4% to an all-time high above 63. AbbVie’s (ABBV) earnings rose 9% over the year-earlier quarter to 89 cents a share, 12 cents above analysts’ consensus, according to Thomson Reuters. Sales increased 8% to just over $5 billion, beating estimates by nearly $200 million. The company lifted its full-year guidance by 20 cents to a range of $3.25 to $3.27,
AbbVie (ABBV) late Wednesday said that its board of directors recommendation that shareholders reject a planned $55 billion buy of Shire Pharmaceuticals. The board citing new Treasury rules issued Sept. 22 making tax inversion deals less attractive. Abbvie said in a statement: “The breadth and scope of the changes, including the unexpected nature of the exercise of administrative authority to impact longstanding tax principles, and to target