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- AbbVie generates about 70% of its revenue just from Humira.
- The company's highly concentrated pharmaceutical portfolio makes investors like Warren Buffett and Seth Klarman seem extremely well-diversified by comparison.
- Is AbbVie as safe as the other Dividend Aristocrats?
- See the companies that are already conducting trials on biosimilar Humira knock-offs to steal market share when the drug losses exclusivity at the end of 2016.
If Gilead Has The Ace, Is AbbVie Holding The Big Joker?
- In a mid-stage study, Abbvie's HCV cocktail cured 97% of liver transplant patients who contracted the virus.
- Assuming FDA approval, AbbVie's HCV cocktail is expected to generate at least $2B in sales in 2015.
- If AbbVie's patents for Harvoni - Gilead's blockbuster HCV treatment - holds up in court, AbbVie will trump Gilead. I am long the stock.
- Abbvie Inc. is a global research-based pharmaceuticals business that emerged as a separate entity following its spin-off from Abbott Laboratories at the start of 2013.
- The company owns the best-in-class immunology drug Humira, which accounts for over 50% of its sales. Humira's U.S. patent expires in late 2016.
- ABBV is currently trading at a discount to my calculated fair value.
- On September 22, 2014, Treasury and the IRS issued a joint Notice that set out their regulatory agenda to curb corporate inversion deals.
- Political data clearly shows a pattern in how the government has targeted some inverters over others.
- As predicted by VogelHood, both ABBV / SHPG and MYL / ABT have been the most vulnerable to government action.
- With strong political engagement metrics, MDT / COV is in the safe zone.
Update: AbbVie's Share Repurchase Plan And Dividend Hike Makes It Even More Attractive
- The company announced a share repurchase plan worth $5 billion and increased dividends by about 17%.
- The announcement makes it an even more attractive investment for both income and growth investors.
- We maintain that AbbVie is a solid long-term investment for both income and growth investors.
AbbVie Does Not Stand To Lose Much If It Drops Shire Deal Now
- AbbVie has said that it is reconsidering the planned acquisition of Shire, a transaction that would have allowed AbbVie to relocate to the U.K. and reduce its tax rate significantly.
- AbbVie’s decision to reconsider comes shortly after the Treasury issued a notice that reduces the economic benefit of corporate inversion.
- Although AbbVie has said that inversion is not the main motivation for the deal, it has been clear from the start that the company pursued Shire to relocate .
- With the main incentive for the deal taken away, I think AbbVie should walk away from the deal.
AbbVie: Growth Story Or Patent Expiration Nightmare?
- AbbVie's Humira treatment is growing rapidly worldwide, propelling the company's revenue.
- The company has a strong dividend yield of 3%.
- AbbVie faces serious questions from patent expirations after 2016.
AbbVie's Acquisition Of Shire: Skepticism Creates Buying Opportunity
- AbbVie has agreed to buy Shire for $54B.
- One of the drivers for the acquisition was a tax inversion, which may be derailed due to political opposition.
- The acquisition has many other positive drivers, and will likely be consummated even without a tax inversion.
- The uncertainty surrounding the acquisition has provided a buying opportunity - in particular, options strategies offer good risk-reward.
- The acquisition of Shire would not only provide a tax advantage to AbbVie but would also help the company to grow its revenue base through portfolio expansion.
- Shire has reported a very strong performance in its latest reported quarter indicating that it would help AbbVie to add growth to its revenues and profits.
- AbbVie has a robust pipeline which along with the Shire acquisition would reduce its reliance on Humira and expand its sales base.
- ABBV announced a $54 billion acquisition of Shire PLC, and a new tax domicile in the UK, lowering its corporate tax rate by 9%.
- The merger will also result in a more diversified product lineup for ABBV.
- Sales for ABBV in the second quarter of 2014 were $4.926 billion, an increase of 5 percent.
- We are positive on ABBV given recent developments and historical strength and suggest investors be so, as well.
Market Ignores AbbVie's Impressive Sales Due To Reliance On Humira
- AbbVie posts solid second quarter results.
- After the Shire acquisition, all eyes are on the anticipated HCV launch later this year.
- Success is required in HCV and the remaining pipeline to tackle the upcoming expiration of Humira in 2016.
Surprise: The Real Costs Of Inversions Are Paid By Ordinary Shareholders
- An inversion is achieved when a US based company buys a foreign corporation, and as a result moves its legal domicile in the foreign country.
- As a result, the new combined company would be treated as a non-US company in the eyes of the US tax authorities. This results in lower tax rates for corporations.
- As I dug deeper however, I learned that there is a tax that ordinary shareholders like you and me have to pay on inversions.
Where Are We At With AbbVie's Acquisition Of Shire?
- AbbVie increased its bid for the acquisition of Shire.
- Shire's current growth rate and product pipeline look promising.
- The acquisition, if successful, also comes with some tax benefits.
AbbVie: Barclays Is Late To Upgrade, Using Highly Favorable Assumptions
- Barclays turns bullish on AbbVie's prospects.
- This is driven by a positive Humira outlook and optimistic assumptions regarding a potential Shire acquisition.
- I do not see compelling value at these levels.
- Humira's U.S. patent is expiring in 2016, and this will hurt AbbVie.
- AbbVie will not be able to make the most of the hepatitis C market due to the presence of Gilead.
- AbbVie's hepatitis C regime will hit the market in 2015, but by then, it will lose a huge chuck of market share to Gilead.
- Given all the threats, investors should sell AbbVie and buy Gilead Sciences.
AbbVie - Attempt To Acquire Shire Is Driven By Opportunistic Tax Synergies
- AbbVie is attempting to acquire Irish-based Shire.
- The deal is once again motivated by tax differentials, and AbbVie's intentions to reduce reliance on Humira.
- The market is applauding these deals way too much, I suggest that tax savings should be discounted at higher rates as governments will come under pressure to respond.
- AbbVie's Hepatitis C treatment showed a 99% cure rate in the clinical trial.
- The company has filed for FDA and EMA approvals for the HCV drug that has a high likelihood of approval by both the agencies by the start of 2015.
- CDC reports that there are 3.2 million Americans presently living with the HCV virus.
- In Europe, roughly 17.5 million people are chronically infected with Hepatitis C.
Abbott Or AbbVie - Which One Is Right For Your Dividend Income Dollars
- Some historical context on Abbott and its 2013 spin-off, AbbVie.
- A side-by-side comparison of key metrics of Abbott and AbbVie. Also included is the relative rating assigned based on a simple system.
- An analysis of which of the two will be a better investment for a long-term dividend growth and income portfolio.
Tue, Nov. 25, 2:46 PM
- "Not surprisingly, billionaires reduced their energy allocations (NYSEARCA:XLE) during Q3," says Direxion, unveiling the quarterly rebalance for the iBillionaire Index (which serves as the benchmark for the IBLN ETF). Attention was instead shifted to healthcare (NYSEARCA:XLV) and materials (NYSEARCA:XLB), with companies like Humana (NYSE:HUM) and Monsanto (NYSE:MON).
- Also added to the index: TMO, GM, FB, CBS, GOOG, MAS, APD, DAL, NOV, WHR, THC, ABBV.
- Dropped from the index: AIG, MCK, CTSH, MSI, RIG, CI, APC, GPS, MSFT, CMCSA, NFLX, MHFI, WMB, ICE.
- Outlying sectors: Consumer Discretionary (NYSEARCA:XLY) makes up 23.33% of the iBillionaire Index vs. 11.68% for the S&P 500, and Industrials (NYSEARCA:XLI) and financials (NYSEARCA:XLF) make up just 6.67% each of the index vs. 10.44 and 16.30 of the S&P 500, respectively. Consumer Staples (NYSEARCA:XLP) have zero representation in the index vs. 9.7% in the S&P 500.
- Previously: Direxion launched an ETF with iBillionaire today
Tue, Nov. 25, 8:18 AM
- Pharmacy benefits manager Express Scripts (NASDAQ:ESRX) is at the forefront of an increasing wave of resistance to the high prices of new drugs from pharma and biotech firms, some which cost as much as $50K per month. Pharmaceutical spending in the U.S. is $270B and may breach $500B in five years. ESRX's method of controlling costs is to refuse to pay for them. For 2015, for example, it is excluding 66 branded drugs from its main formulary, an increase of 18 from 2014's 48. On the list is Johnson & Johnson's (NYSE:JNJ) rheumatoid arthritis drug Simponi (golimumab) which costs $3K per month.
- Other prescription benefits managers are employing similar tactics. CVS Health (NYSE:CVS) will exclude 95 drugs from its 2015 formulary including Pfizer's (NYSE:PFE) multiple sclerosis med Rebif (interferon beta-1a) which costs $5K for a four-week supply.
- Governments are pushing back as well. Among 42 state Medicaid programs, 27 pay for Gilead Sciences' HCV med Sovaldi (sofosbuvir) only for patients with severe liver damage while others impose coverage limitations for patients with recent substance-abuse problems. In the U.S., the full regimen cost is $84K. Recently, Britain's National Institute for Health and Care Excellence (NICE) balked at recommending reimbursement for Roche's (OTCQX:RHHBY) blood cancer drug Gazyvaro (obinutuzumab).
- Ninety percent of commercial health plans require pre-approval of specialty drugs, up from 82% in 2011.
- Previously: Roche's Gazyvaro not NICE in the UK
- Previously: Global drug tab will breach trillion dollar mark this year
- ETFs: IBB, BIB, IRY, BIS, IXJ, DRGS
- Related tickers: (NYSE:NVS) (NYSE:AZN) (NASDAQ:AMGN) (NASDAQ:BIIB) (NASDAQ:CELG) (NYSE:LLY) (NYSE:SNY) (NYSE:ABT) (NYSE:ABBV) (NYSE:BMY) (NYSE:MRK) (NYSE:GSK)
Fri, Nov. 21, 8:48 AM
- The European Medicines Agency's Committee for Medicinal Products for Human Use (CHMP) adopts a positive opinion supporting approval of AbbVie's (NYSE:ABBV) Viekirax (a combination of ombitasvir, paritaprevir and ritonavir) plus Exviera (dasabuvir), with or without ribavirin, for patients with chronic HCV genotype 1 infection and Viekirax only, with ribavirin, for patients with HCV genotype 4 infection. A final decision by the European Commission usually takes about 60 days.
- The FDA tagged Viekirax a Breakthrough Therapy and granted priority review of AbbVie's NDA in June.
- Related tickers: (NASDAQ:ENTA) (NASDAQ:GILD) (NYSE:MRK) (NYSE:BMY) (NASDAQ:RGLS) (NASDAQ:CNAT) (NASDAQ:ACHN)
- Previously: Enanta declines HCV drug co-development option with AbbVie
- Previously: AbbVie presents HCV/HIV and liver transplant HCV data
Thu, Nov. 20, 1:36 PM
- The FDA approves Purdue Pharma's Hysingla ER (hydrocodone bitartrate) for pain severe enough to require daily, around-the-clock, long-term opioid treatment for which alternative treatment options are inadequate.
- Hysingla ER incorporates abuse-deterrent properties that make the tablet difficult to crush, break or dissolve and it forms a viscous hydrogel that makes it difficult to prepare for injection.
- The agency is requiring postmarketing studies of Hysingla ER to assess the effects of its abuse-deterrent properties on the risk of abuse and the consequences of that abuse in the community. Purdue is also required to make educational programs available to healthcare professionals on now to safely prescribe ER/LA opioid analgesics in addition to medication guides and patient counseling documents.
- Opioid-related tickers: (ZGNX -0.8%)(PFE +0.2%)(EGLT +4.5%)(ACUR)(MNK +0.9%)(ABBV)(TEVA -0.1%)(ALKS +1.5%)
Tue, Nov. 11, 11:03 AM
- At The Liver Meeting in Boston, Gilead Sciences (GILD +1.1%) presented results from several Phase 2 and Phase 3 trials evaluating Harvoni (ledipasvir 90 mg/sofosbuvir 400 mg) for the treatment of chronic HCV infection in patients with limited or no treatment options, including decompensated cirrhosis, HCV recurrence following liver transplantation and patients refractory to other direct-acting antivirals.
- In a pooled analysis of Phase 2 and Phase 3 open-label studies involving more than 500 HCV-1 patients with compensated cirrhosis who received Harvoni alone or with ribavirin (RBV) for 12 or 24 weeks, 96% achieved SVR12.
- In a Phase 2 open-label study evaluating patients with decompensated cirrhosis and those with HCV recurrence after a liver transplant, 87% of those receiving Harvoni + RBV for 12 weeks achieved SVR12 compared to 89% of the treatment arm receiving a 24-week regimen (subgroup analysis of 108 HCV genotype 1 and 4 patients).
- In another subgroup analysis from the same Phase 2 trial, response rates for patients who developed HCV (genotypes 1 and 4) recurrence following liver transplantation who were treated with Harvoni + RBV were analyzed. SVR12 rates for non-cirrhotic patients were 96% and 98%, respectively, for the 12- and 24-week regimens. For patients with compensated cirrhosis, the SVR12 rate was 96% for both regimens. For patients with decompensated cirrhosis, the SVR12 rate was 81% for both regimens.
- In two studies of HCV patients who failed prior therapy, those receiving Harvoni + RBV for 12 weeks achieved SVR12 rates of 96% and 98%. Those receiving Harvoni alone for 24 weeks (Study GS-US-337-0121) achieved an SVR12 rate of 97%.
- HCV-related tickers: (BMY -0.1%)(MRK +1.4%)(ABBV +0.3%)(JNJ +0.2%)(ACHN -0.6%)(RGLS -2.7%)(CNAT -1.1%)(ENTA -0.4%)
Tue, Nov. 11, 10:07 AM
- At The Liver Meeting in Boston, AbbVie (ABBV -0.1%) presented results from studies in HCV patients co-infected with HIV and liver transplant recipients who received its all-oral, interferon-free investigational treatment combining three antivirals (ombitasvir/ABT-450/ritonavir and dasabuvir)
- SVR12 rates for patients co-infected with HCV/HIV that received the company's investigational treatment plus ribavirin were 93.5% for the 12-week regimen and 90.6% for the 24-week regimen.
- In non-cirrhotic liver transplant recipients with recurrent HCV-1 new to treatment, SVR12 and SVR24 rates were each 97.1%.
- HCV-related tickers: (GILD +0.5%)(MRK +1%)(JNJ -0.1%)(BMY -0.2%)(ENTA +0.2%)(RGLS +0.2%)(CNAT -0.5%)(ACHN -1.7%)
Tue, Nov. 11, 9:37 AM
- At The Liver Meeting in Boston, Merck (NYSE:MRK) presented data from a Phase 2 clinical trial evaluating the combination of the company's investigational NS3/4A inhibitor, grazoprevir, and its investigational NS5A inhibitor, elbasvir, with and without ribavirin, in treatment-naive and treatment-experienced HCV-1 patients. The length of treatment was either eight,12 or 18 weeks.
- SVR12 rates in treatment-naive non-cirrhotic patients were: 8-week regimen with RBV: 80%; 12-week regiment with and without RBV: 93% and 98%.
- SVR12 rates in treatment-naive patients with cirrhosis were: 12-week regimen with and without RBV: 90% and 97%; 18-week regimen with and without RBV: 97% and 94%.
- SVR12 rates for treatment-experienced patients with and without cirrhosis: 12-week regimen with and without RBV: 94% and 91%; 18-week regimen with and without RBV: 100% and 97%.
- SVR12 rates for HCV-1 patients co-infected with HIV: 12-week regimen with and without RBV: 97% and 87%.
- Results from a Phase 3 trial are expected in 1H 2015.
- Previously: Merck triple therapy HCV candidate fails as a four-week regimen
- HCV-related tickers: (GILD +0.4%)(JNJ -0.2%)(BMY -0.1%)(ABBV +0.3%)(ACHN +3%)(ENTA +0.4%)(CNAT)(LGND +0.5%)(RGLS)
Tue, Nov. 11, 9:05 AM
- At The Liver Meeting in Boston, Gilead Sciences (NASDAQ:GILD) presented data from three Phase 2 studies evaluating an all-oral pan-genotypic regimen, Sovaldi (sofosbuvir) + the company's investigational NS5A inhibitor GS-5816, for the treatment of HCV infection. The specific regimens were Sovaldi 400 mg plus GS-5816 25 mg or 100 mg, with and without ribavirin, for eight or 12 weeks.
- The first study, GS-US-342-0109, evaluated Sovaldi + GS5816 with and without ribavirin for 12 weeks in treatment-experienced HCV-1 and HCV-3 patients with and without cirrhosis. SVR12 rates: SOF + GS-5816 100 mg: 100% for GT1 with and without cirrhosis; 100% for GT3 without cirrhosis and 88% for GT3 with cirrhosis. SVR12 rates: SOF + GS-5816 + RBV: 100% for GT1 without cirrhosis and GT3 without cirrhosis; 90% in GT1 with cirrhosis and 96% in GT3 with cirrhosis.
- The second study, ELECTRON 2, evaluated the same regimen as the first study for eight weeks in non-cirrhotic treatment-naive genotype 3 patients. The SVR12 rate inclusive of ribavirin was 100% and 96% for the ribavirin-free approach.
- The third study, GS-US-342-0102, evaluated the same regimen as first study in non-cirrhotic treatment-naive patients. Results from Part A evaluating 12 weeks of treatment were presented at The International Liver Congress in April 2014. The results from Part B, presented this week, evaluated eight weeks of treatment in HCV-1 and HCV-2 patients. SVR12 rates were: G1: 81% and 90% with and without RBV; G2: 88% with and without RBV.
- HCV-related tickers: (NASDAQ:ACHN) (NYSE:BMY) (NYSE:JNJ) (NYSE:ABBV) (NASDAQ:ENTA) (NASDAQ:CNAT) (NASDAQ:LGND) (NASDAQ:RGLS)
Mon, Nov. 10, 7:49 AM
- At The Liver Meeting in Boston, Merck (NYSE:MRK) presented interim data on its triple-therapy regimen for HCV-1 infection. The investigational product combines the company's NS3/4A protease inhibitor, grazoprevir and its NS5A inhibitor, elbasvir, with Sovaldi (sofosbuvir).
- SVR4/8 for the 8-week regimen in treatment-naive cirrhotic patients was 94.7% (18 of 19). SVR4/8 values for other treatment groups, however, appear low. For the six-week regimen in treatment-naive cirrhotic patients, SVR4/8 was only 80% (16 of 20) with four relapses. For treatment-naive non-cirrhotic patients, the six-week regimen SVR4/8 was 86.7% (26/30) with four relapses while the four-week regimen failed to come anywhere close to efficacy at 38.7% (12/31) with 19 relapses.
- Of the 28 total relapses, 25 were genotype 1a and three were genotype 1b.
- The company plans to initiate Phase 2 clinical trials to assess the safety and efficacy of two short-duration triple therapy regimens: MK-3682 in combination with grazoprevir/elbasvir and MK-3682 in combination with grazoprevir and MK-8408 in non-cirrhotic HCV patients. MK-3682 is an investigational oral prodrug HCV nucleotide analogue NS5B polymerase inhibitor. MK-8408 is an investigational early-stage NS5A inhibitor.
- HCV-related tickers: (NASDAQ:GILD) (NYSE:BMY) (NYSE:JNJ) (NYSE:ABBV) (NASDAQ:ENTA) (NASDAQ:CNAT) (NASDAQ:LGND) (NASDAQ:RGLS)
Sun, Nov. 9, 6:04 PM
- At The Liver Meeting in Boston this week, Bristol-Myers Squibb (NYSE:BMY) presented data from its Phase 3 UNITY program investigating a 12-week all-oral TRIO regimen of daclatasvir (DCV) with asunaprevir and beclabuvir for the treatment of HCV-1 infection.
- In the UNITY-1 trial, a 12-week regimen of DCV-TRIO without ribavirin was evaluated in treatment-naive and treatment-experienced non-cirrhotic HCV patients. SVR12 was 91% overall, 92% for the treatment-naive group and 89% for the treatment-experienced group.
- In UNITY-2, a 12-week regimen of DCV-TRIO was evaluated in cirrhotic patients. SVR12 was 98% in the treatment-naive group and 93% in the treatment-experienced group with ribavirin and 93% and 87%, respectively, without ribavirin.
- In October, the company announced it would not pursue FDA approval for the dual regimen of asunaprevir and daclatasvir for the treatment of HCV-1b infection.
- HCV-related tickers: (NYSE:MRK) (NASDAQ:GILD) (NYSE:ABBV) (NASDAQ:ENTA) (NYSE:JNJ) (NASDAQ:CNAT) (NASDAQ:LGND) (NASDAQ:RGLS)
Sun, Nov. 9, 5:37 PM
- At The Liver Meeting in Boston this week, Bristol-Myers Squibb (NYSE:BMY) presented data from its ALLY Phase 3 clinical trial investigating a 12-week ribavirin-free regimen of daclatasvir in combination with Sovaldi (sofosbuvir) in HCV genotype 3 patients, a population that has emerged as one of the most difficult to treat. The SVR12 in treatment-naive patients was 90% and 86% in treatment-experienced patients. SVR12, sustained viral response 12 weeks after the completion of therapy, is considered cured.
- The results compare favorably with SVR12 in 89% of patients with HCV-1,2 and 3 in an open-label randomized study of a 24-week regimen of the two drugs.
- HCV-related tickers: (NYSE:MRK) (NASDAQ:GILD) (NYSE:ABBV) (NASDAQ:ENTA) (NYSE:JNJ) (NASDAQ:CNAT) (NASDAQ:LGND) (NASDAQ:RGLS)
Sun, Nov. 9, 5:06 PM
- At this week's Annual Meeting for the Study of Liver Diseases in Boston, Achillion Pharmaceuticals (NASDAQ:ACHN) gave poster presentations on two of its HCV product candidates.
- In a Phase 2 pilot study evaluating eight-week treatment of its NS5A inhibitor, ACH-3102, in combination with Sovaldi (sofosbuvir) in treatment-naive HCV genotype 1 patients, the interferon-free, ribavirin-free regimen demonstrated 100% SVR12 in 12 patients. SVR12 or sustained viral response 12 weeks after the completion of therapy, is considered cured. Sovaldi's SVR12 (in combination with peg-interferon alfa and ribavirin) is 90% for HCV-1. Harvoni's (sofosbuvir + ledipasvir) is 94 - 99%.
- The company presented three posters on preclinical results for its uridine analog prodrug, ACH-3422. The data showed improved potency against HCV-3 compared to sofosbuvir. The combination of ACH-3422 with ACH-3102 or sovaprevir (Achillion's Phase 2 NS3/4A inhibitor) displayed additive synergistic activity in vitro. Also, ACH-3422, in combination with other direct-acting antiviral agents, demonstrated the ability to block the appearance of resistant colonies in vitro.
- According to recent research, the global prevalence of HCV genotypes is: type 1: 46%; type 2: 13%; type 3: 22% and type 4: 13%.
- HCV-related tickers: (NASDAQ:GILD) (NYSE:ABBV) (NYSE:JNJ) (NYSE:BMY) (NASDAQ:RGLS) (NASDAQ:ENTA) (NYSE:MRK) (NASDAQ:LGND) (NASDAQ:CNAT)
Fri, Oct. 31, 2:42 PM
- AbbVie (ABBV +3.7%) surges to a new 52-week high after posting better than expected results in its first earnings report since its mega-merger with Shire fell apart.
- ABBV also raised its EPS outlook for the year to $3.25-$3.27, up from its prior view for $3.06-$3.16, not including any potential sales from its hepatitis C virus treatment, which is expected to receive approval from U.S. regulators before year's end.
- While declining to provide details of its marketing and pricing strategy for the treatment, ABBV execs said in today's earnings conference call that the hepatitis C market is bigger and more attractive than it had thought, and expressed confidence the treatment would be able to compete with Gilead's (GILD -2.2%) Sovaldi.
- Global sales of Humira, the world's top-selling drug, jumped 18% Y/Y to $3.26B; in the U.S., sales surged 25% to $1.74B; the arthritis drug accounted for 65% of total company sales.
- CEO Richard Gonzalez said ABBV's underlying growth prospects preclude another big merger attempt, but added the company was keen on smaller acquisitions.
Fri, Oct. 31, 11:30 AM
- AbbVie (ABBV +3.8%) Q3 results: Revenues: $5,019M (+7.8%); COGS: $1,094M (+0.2%); R&D Expense: $812M (+13.7%); SG&A: $1,595M (+26.5%); Operating Income: $1,210M (-11.7%); Net Income: $506M (-47.5%); EPS: $0.31 (-48.3%).
- 2014 Guidance: non-GAAP EPS: $3.25 - 3.27 from $3.06 - 3.16.
Fri, Oct. 31, 7:54 AM
Wed, Oct. 22, 11:31 AM
- The European Commission approves privately-held Switzerland-based Ferring Pharmaceuticals' Cortiment (budesonide) for the induction of remission in patients with active mild-to-moderate ulcerative colitis. Budesonide is a locally acting glucocorticosteroid.
- Ferring licensed Cortiment from Cosmo Pharmaceuticals SpA for the EU, Asia (ex-Japan), Australia, Canada, Latin America and Africa. The product is sold under the brand name Uceris in the U.S. by Salix Pharmaceuticals (SLXP -0.2%).
- UC-related tickers: (NASDAQ:VBLX) (RCPT)(OTCPK:TKPHF)(OTCPK:TKPYY +0.2%)(ATHX +2.3%)(SHPG +1.3%)(PFE +0.7%)(ABT -0.4%)(ABBV +1.2%)(CNDO +1.1%)(JNJ +1%)(SGYP -3.2%)
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