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The Illinois-based biopharmaceutical firm is off to a good start in 2020, thanks in part to record sales of the world’s best-selling drug, Humira, which can be used to treat a wide range of ailments including arthritis and Crohn's disease. While the growth of biosimilar drugs threatens its Humira franchise in the long term, AbbVie is nurturing other potential blockbusters, including plaque-psoriasis therapy Skyrizi. The company also received FDA approval to acquire Botox-maker Allergan, which will provide a booster shot to revenue. AbbVie noted the pandemic has reduced prescriptions as a result of a decline in doctor’s office visits, but said it expects this trend to reverse in coming months.
Courtesy of AbbVie
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