+ Long-term incentive program
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AbbVie is a global biopharmaceutical company that develops and sells medicines to treat serious health conditions. Its portfolio spans immunology, oncology, virology, neuroscience, and aesthetics, with products designed to modulate the immune system, target disease pathways, or support medical aesthetics. AbbVie compounds its products through a heavy emphasis on research and development, investing billions to build a steady pipeline of new therapies. Its medicines are brought to market by selling to healthcare providers, hospitals, and clinics, and in some cases directly to patients via prescriptions. The company differentiates itself through a wide, globally distributed product line, substantial R&D investment, and a commitment to sustainability and patient care, including science-based targets. AbbVie’s goal is to improve patient outcomes by delivering effective treatments for unmet medical needs while pursuing long-term, responsible growth across healthcare markets.
Company Size
10,001+
Company Stage
IPO
Headquarters
North Chicago, Illinois
Founded
1888
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The US Food and Drug Administration has approved AbbVie's JUVMO (tavapadon) for treating Parkinson's disease in adults. JUVMO is the first selective D1/D5 receptor agonist approved for this condition, offering a different approach from existing dopamine agonists that primarily target D2/D3 receptors. The once-daily treatment can be taken with or without levodopa therapy. Approval was based on the Phase 3 TEMPO clinical trial programme, which demonstrated significant improvements in daily functioning and increased "on" time without troublesome dyskinesia. In trials, 93% of participants on JUVMO with levodopa for 85 weeks did not increase their levodopa dose, whilst 94% of early-stage patients did not initiate levodopa therapy. Common side effects included nausea, headache, dizziness and fatigue. AbbVie expects to make JUVMO available in the US in October 2026.
ADARx Pharmaceuticals announces pricing of upsized $446.3 million initial public offering. SAN DIEGO, Sept. 24, 2026 (GLOBE NEWSWIRE) - ADARx Pharmaceuticals, Inc. (ADARx), a late-stage clinical biotechnology company developing next-generation siRNA therapeutics, announced today the pricing of its upsized initial public offering of 26,250,000 shares of common stock at a price to the public of $17.00 per share. All of the shares of common stock are being offered by ADARx. The gross proceeds to ADARx from the offering, before deducting underwriting discounts and commissions and offering expenses payable by ADARx, are expected to be approximately $446.3 million. In addition, the underwriters have a 30-day option to purchase up to an additional 3,937,500 shares of common stock at the public offering price, less underwriting discounts and commissions. The shares are expected to begin trading on The Nasdaq Global Select Market on September 25, 2026, under the ticker symbol "ADRX." The offering is expected to close on September 28, 2026, subject to the satisfaction of customary closing conditions. J.P. Morgan, Morgan Stanley, TD Cowen and UBS Investment Bank are acting as lead book-running managers for the offering. LifeSci Capital is acting as a book-running manager for the offering. Registration statements relating to these securities have been filed with the U.S. Securities and Exchange Commission (SEC) and became effective on September 24, 2026. Copies of the registration statements can be accessed through the SEC's website at www.sec.gov. This offering is being made only by means of a prospectus forming part of the registration statements relating to these securities. When available, copies of the final prospectus relating to the initial public offering may be obtained from: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by email at [email protected] and [email protected]; Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, by telephone at 1-866-718-1649, or by email at [email protected]; TD Securities (USA) LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by email at [email protected]; or UBS Securities LLC, Attention: Equity Syndicate, 11 Madison Avenue, New York, NY 10010 or by email at [email protected]. In addition, AbbVie has agreed to purchase, in a concurrent private placement exempt from the registration requirements of the Securities Act of 1933, as amended (the Securities Act), a number of shares of ADARx's common stock that would result in AbbVie owning approximately 4.9% of ADARx's outstanding shares of common stock following the closing of the initial public offering and the concurrent private placement, at a price of $17.00 per share; provided, however, that in no event would AbbVie purchase more than $100.0 million in shares of common stock. The aggregate gross proceeds to ADARx from the initial public offering and the concurrent private placement, before deducting underwriting discounts and commissions, placement agent fees and other offering and private placement expenses payable by ADARx, are expected to be approximately $535.2 million, excluding any exercise of the underwriters' option to purchase additional shares of common stock. The concurrent private placement is also scheduled to close on September 28, 2026, subject to the satisfaction of customary closing conditions. The closing of the concurrent private placement is contingent and conditioned upon consummation of the initial public offering. However, the closing of the initial public offering is not contingent on the consummation of the concurrent private placement. This press release does not constitute an offer to sell, or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act. About ADARx Pharmaceuticals ADARx Pharmaceuticals, Inc. is a late-stage biotechnology company dedicated to transforming cutting-edge science into next-generation siRNA therapeutics. We have developed technology designed to control the expression of specific disease drivers with highly selective RNA targeted therapies with the goal of delivering life-changing treatments for patients with unmet medical needs. ADARx is focused on advancing and expanding a deep pipeline of highly potent, durable and selective RNA-targeted therapeutic candidates, developing product candidates for the treatment of complement-mediated, genetic, cardiovascular, thrombosis, central nervous system and metabolic (obesity) diseases. In addition to our wholly-owned programs, we have entered into a collaboration and license option agreement with AbbVie to develop small interfering RNA (siRNA) therapeutics across multiple disease areas, including neuroscience, immunology and oncology. Forward-Looking Statements The statements contained in this press release that are not historical facts are forward-looking statements. You can identify forward-looking statements because they contain words such as "believe," "can," "estimate," "expect," "intend," "may," "plans," "should," "seeks," or "will," or similar expressions which concern ADARx's strategy, plans, projections or intentions. These forward-looking statements may be included throughout this press release, and include, but are not limited to, statements relating to ADARx's expected gross proceeds from the initial public offering and concurrent private placement, the expected date for ADARx's common stock to begin trading on the Nasdaq Global Select Market and the expected closing of the initial public offering and concurrent private placement. By their nature, forward-looking statements are not statements of historical fact or guarantees of future performance and are subject to risks, uncertainties, assumptions or changes in circumstances that are difficult to predict or quantify. ADARx's expectations, beliefs and projections are expressed in good faith and ADARx believes there is a reasonable basis for them. However, there can be no assurance that management's expectations, beliefs and projections will result or be achieved and actual results may vary materially from what is expressed in or indicated by the forward-looking statements. Any forward-looking statement in this press release speaks only as of the date of this release. ADARx undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws.
Consumers look to salvage suit over Big Pharma price-fixing scheme. Consumers claim Chicago pharmaceutical company AbbVie wrongfully inflated the price of Humira - the world's first $20 billion drug - and granted illegal kickbacks to pharmacy benefit managers. CHICAGO (CN) - A group of consumers maintained to a Seventh Circuit panel Wednesday morning that a Chicago pharmaceutical company wrongfully inflated drug prices and paid illegal kickbacks to pharmacy benefit managers. A lower court dismissed the consumers' unfair business practice class action against pharmaceutical giant AbbVie back in January, and characterized it as nothing more than complaints about high drug prices. In their 103-page class action, the consumers accuse AbbVie of coordinating a scheme with pharmacy benefit managers to artificially inflate the price of Humira, which became the first prescription drug to surpass $20 billion in annual sales globally in 2021. Plaintiffs' attorney Steve Berman told the three-judge panel that the lower court mischaracterized his clients' claims, and in doing so, did not draw all inferences in their favor. "We complained about a multiparty scheme where first AbbVie publishes a phony list price, right?" said Berman, managing partner at Seattle-based Hagens Berman. "Then it pays massive undisclosed rebates to the [pharmacy benefit managers] in exchange for formula replacement, and in addition, a fact completely ignored by the district court was the shadow pricing with Amgen." Shadow pricing is the practice of routinely mirroring the price hikes of a primary competitor instead of undercutting them to gain market share. The plaintiffs note in their complaint that AbbVie routinely engaged in this practice with Amgen, which manufacturers the Enbrel, the largest competitor to Humira. "One Amgen pricing committee presentation prepared in May 2016 described Amgen's pricing strategy for Enbrel: 'Price increase strategy is to follow AbbVie's price increases.'" AbbVie's attorney Sean Berkowitz argued the consumers did not face substantial injury, because there were ample alternatives of relief programs so that they could get their necessary prescriptions. "I want to be really clear, we're not unsympathetic to the problem of high drug prices," said Berkowitz, a Chicago-based partner at Latham Watkins. "The issue is whether the consumer protection laws are the right method and the right instrument to address those, and we respectfully say that they are not, and would ask that you affirm the district court opinion." U.S. Circuit Judge Amy St. Eve asked Berman about the actual behavior of which the consumers are seeking relief. "What's the unfair conduct that's directed at the consumer?" the Donald Trump appointee asked. "The result of the conduct is directed at the consumer," Berman responded. "Okay, so the unfair conduct is this scheme that the district court didn't deal with at all." U.S. Circuit Judge Doris Pryor, a Joe Biden appointee, attempted to pin down Berman's argument further. She asked him what facts support the claim of unfair business practices, "other than saying 'the scheme.'" "The facts are undisclosed, massive rebates to [pharmacy benefit managers], in exchange for formula replacement. The facts are shadow pricing, all resulting in a massive list price that only a small list of consumers bear, okay?" Berman said. "And I know that the House Oversight Committee might go into the policy prong of my argument, but the House Oversight Committee, after reviewing these documents, found the practices that we're complaining about to be 'unsustainable, unjustified, and unfair.'" Federal courts have historically used a three-part test from 1993 Supreme Court case Brooke Group Ltd. v. Brown & Williamson Tobacco Corp. to define unfair business acts or practices. The test requires that a practice offends public policy, is immoral, unethical or oppressive, and causes substantial injury to consumers. In response to Berman, St. Eve noted the House report is too broad, and said public policy has to be specific to satisfy the test. U.S Circuit Judge Josh Kolar, another Biden appointee, pressed Berman about the limiting principle of his argument. Berman pointed to consumer protection statutes, which have long regulated this sort of conduct. "It's a rare circumstance when things get so bad and the scheme is so blatant that someone comes and sues," he said. "That's the limiting principle. There has to be egregious facts, and here we believe there are egregious facts." Berkowitz disagreed with Berman's characterization of the limiting principle. He reiterated St. Eve's point, and remarked that the House Oversight Committee's report failed to come to any conclusions about insurance rebates and shadow pricing. "If you were to use that as the public policy, you'd end up in a scenario, unfortunately where everybody in America - all drug companies - would be faced with unfair conduct," Berkowitz said. "There's no standard of conduct to which AbbVie could conform its actions based on this complaint." The panel of judges took the case under advisement and did not indicate when it might rule on the matter.
The European Commission has approved RINVOQ (upadacitinib) for treating active polyarticular juvenile idiopathic arthritis in patients aged two years and older who have not responded adequately to one or more disease-modifying anti-rheumatic drugs. AbbVie announced the approval includes a new oral solution formulation alongside the tablet form. The approval was based on the open-label Phase 1 SELECT-YOUTH study and adult rheumatoid arthritis data. In the study of 122 patients, 79.5% achieved 70% improvement in disease activity at week 48, whilst 43.4% achieved remission. No new safety risks were identified during the trial period. Juvenile idiopathic arthritis affects approximately 126,000 children in Europe. RINVOQ is now approved in the European Union for 11 indications across various immune-mediated inflammatory diseases.
ADARx Pharmaceuticals has priced its initial public offering of 21.875 million shares between $15.00 and $17.00 per share, according to an SEC filing. The San Diego-based late-clinical stage biotechnology company has applied to list on Nasdaq under the ticker "ADRX". AbbVie has agreed to purchase shares in a concurrent private placement that would give it approximately 4.9% ownership of ADARx's outstanding stock. Underwriters have a 30-day option to purchase up to 3.28 million additional shares. The company estimates net proceeds of approximately $397.1 million, or $445.9 million if underwriters exercise their option in full, assuming a $16.00 share price. Proceeds will fund clinical trial development and general corporate purposes.