AbbVie Receives FDA Approval for RINVOQ
On August 16, AbbVie (ABBV) announced that it received FDA approval of RINVOQ (upadacitinib), a 15 mg, once-daily oral Janus kinase (JAK) inhibitor. The drug is expected to be available in the U.S. by the end of August 2019. RINVOQ treats adults with moderately to severely active rheumatoid arthritis (RA) who have had an inadequate response or intolerance to methotrexate (MTX-IR).
Sonal received the news and sent an alert at 12:43 pm. The stock price opened for the day at $63.51 and rose throughout the day on the news. AbbVie’s stock continued to climb over the next four trading sessions. The stock closed at $67.52 on August 22 for a five-day gain of 6.3%.
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