AbbVie Takes Legal Action Against Sandoz and Four Others to Prevent Generic Rinvoq Launch

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ABBVIE ($NYSE:ABBV): AbbVie Inc. is a global biopharmaceutical company that develops and markets products to treat a variety of conditions, such as cancer, rheumatoid arthritis, and HIV/AIDS. Recently, AbbVie has taken legal action against Sandoz and four other companies in an attempt to prevent a generic version of their drug Rinvoq from being produced. This drug is used to treat rheumatoid arthritis and other autoimmune diseases; however, the generic version would be a much cheaper alternative. This move has caused concern among investors of AbbVie as the company’s stock has dropped since the announcement of the legal action. They are worried that generic drugs could compete with AbbVie’s own products and cost them profits.

However, AbbVie remains confident that they will succeed in the legal battle in order to protect their drug’s patent and prevent competition from smaller, generic drug companies. In the meantime, AbbVie is continuing to develop new treatments for various diseases that can compete with the generic version of Rinvoq. They have also recently secured a deal with Allergan to purchase their self-injectable drug portfolio, which will further strengthen their position in the market. With their ongoing legal battle and new acquisitions, AbbVie is committed to providing continued quality treatments and staying competitive in the healthcare industry.

Market Price

As a result, ABBVIE Inc.’s stock opened at $139.1 and closed at $138.5, down by 0.2% from the previous closing price of 138.7. The lawsuit was filed in the U.S. District Court for the District of Delaware, and ABBVIE Inc. is seeking a judgment to prevent the defendants from manufacturing, using, selling, or offering for sale generic versions of Rinvoq until the expiration of certain patents. It is designed to reduce pain and improve physical function in patients.

The lawsuit is part of ABBVIE’s ongoing efforts to protect its intellectual property rights and prevent the introduction of generic versions of Rinvoq to the market. The company is confident it will be successful in its efforts and will continue to defend its patents and other intellectual property rights to protect the value of its products. Live Quote…

About the Company

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Analysis

At GoodWhale, we have conducted an analysis of ABBVIE INC‘s wellbeing. According to our Star Chart, ABBVIE INC has a high health score of 8/10, indicating that it has strong cashflows and is capable of sustaining future operations in times of crisis. Furthermore, based on our assessment, we classify ABBVIE INC as a ‘cow’ – a type of company that has a track record of paying out consistent and sustainable dividends. Given its strong asset, dividend, and profitability scores, as well as its medium growth score, ABBVIE INC may be an attractive investment for those interested in a steady stream of returns. By investing in this company, investors could benefit from the stability and sustainability that ABBVIE INC offers. More…

Peers

AbbVie Inc is a global, research-based biopharmaceutical company formed in 2013. AbbVie combines the focus and passion of a leading-edge biotech with the experience and breadth of a long-established pharmaceutical leader to develop and market advanced therapies that address some of the world’s most complex and serious diseases.

Kwang Dong Pharmaceutical Co Ltd, Jiangsu Hengrui Pharmaceuticals Co Ltd, Vivesto AB are all competitors of AbbVie Inc.

– Kwang Dong Pharmaceutical Co Ltd ($KOSE:009290)

Kwang Dong Pharmaceutical Co Ltd is a South Korean company that manufactures and sells pharmaceutical products. The company has a market cap of 233.75 billion as of 2022 and a return on equity of 19.33%. Kwang Dong Pharmaceutical Co Ltd manufactures a wide range of pharmaceutical products, including antibiotics, anti-inflammatory drugs, and cardiovascular drugs. The company also has a research and development department that is responsible for developing new drugs and formulations.

– Jiangsu Hengrui Pharmaceuticals Co Ltd ($SHSE:600276)

Jiangsu Hengrui Pharmaceutical Co., Ltd. is a Chinese pharmaceutical company that engages in the research, development, manufacture, and sale of chemical and biological drugs in China and internationally. The company has a market cap of 248.78 billion as of 2022 and a return on equity of 6.72%. Jiangsu Hengrui Pharmaceutical Co., Ltd. is headquartered in Lianyungang, China.

– Vivesto AB ($OTCPK:OASMY)

Vivesto AB is a Swedish company that provides financial technology solutions. The company has a market capitalization of 32.61 million as of 2022 and a return on equity of -9.39%. Vivesto’s products and services include online banking, mobile banking, and payments solutions. The company serves retail, corporate, and institutional clients.

Summary

AbbVie Inc. (ABBV) is a pharmaceutical company that focuses on developing and marketing drugs to treat a variety of conditions, including immunology, neuroscience and oncology. The stock has seen some volatility, but has generally trended up. Analysts are generally bullish about the stock, citing AbbVie’s strong product pipeline, dedicated research and development capabilities, and market-leading position in several therapeutic areas.

Additionally, the company has recently sued four other companies in an effort to block generic versions of its rheumatoid arthritis drug Rinvoq.