AbbVie to develop long-acting injectables in a deal worth up to $1.9B
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 16 2024
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Source: SeekingAlpha
- Partnership Announcement: French drugmaker MedinCell partners with AbbVie to co-develop and commercialize long-acting injectables in a deal worth up to $1.9B.
- Technology Platform: MedinCell will use its long-acting injectable technology platform to develop up to six therapeutics across various clinical indications.
- Responsibilities: MedinCell will handle early-stage studies, while AbbVie will take over clinical and late-stage development, including regulatory approval, manufacturing, and commercialization.
- Financial Terms: AbbVie will pay MedinCell $35M upfront, up to $1.9B in development and commercial milestones, and mid-single to low-double-digit royalties on net sales.
- Previous Collaboration: MedinCell, in collaboration with Teva, has previously used its drug delivery technology to develop Uzedy, a long-acting injectable approved for schizophrenia in adults.
Analyst Views on ABBV
Wall Street analysts forecast ABBV stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for ABBV is 253.26 USD with a low forecast of 218.00 USD and a high forecast of 289.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
22 Analyst Rating
15 Buy
7 Hold
0 Sell
Moderate Buy
Current: 218.110
Low
218.00
Averages
253.26
High
289.00
Current: 218.110
Low
218.00
Averages
253.26
High
289.00
About ABBV
AbbVie Inc. is a global, diversified research-based biopharmaceutical company. It is engaged in research and development, manufacturing, commercialization and sale of medicines and therapies. Its product portfolio includes Immunology, Oncology, Aesthetics, Neuroscience, Eye Care and Other Key Products. Immunology products include rheumatology, dermatology and gastroenterology. Oncology products include Imbruvica, Venclexta/Venclyxto, Elahere and Epkinly. Aesthetics portfolio consists of facial injectables, plastics and regenerative medicine, body contouring, and skincare products. Its Neuroscience products include Botox Therapeutic, Vraylar, Duopa and Duodopa, Ubrelvy, and Qulipta. Eye Care products include Ozurdex, Lumigan/Ganfort, Alphagan/Combigan, Restasis, and other eye care. Other key products include Mavyret/Maviret, Creon, and Linzess/Constella. Its investigational candidate, bretisilocin, is for the treatment of patients with moderate-to-severe major depressive disorder (MDD).
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
