AbbVie's RINVOQ Gets Regulatory Nod In Canada For Yet Another Indication

(RTTNews) - AbbVie Inc. (ABBV) announced on Tuesday that RINVOQ, an oral, once-daily selective and reversible JAK inhibitor, has been approved for one more indication by Health Canada.

The drug has now been received approval in Canada to treat adults with moderately to severely active ulcerative colitis who have demonstrated prior treatment failure. This marks the sixth Health Canada-approved indication for RINVOQ across gastroenterology, dermatology and rheumatology.

RINVOQ generated net global revenue of $686 million in the first quarter of 2023, an increase of 47.5% over the year-ago quarter.

Ulcerative colitis is a chronic, immune-mediated inflammatory bowel disease (IBD) of the large intestine. It is estimated that Canada has more than 300,000 Canadians living with IBD, making it the country with one of the highest rates of inflammatory bowel disease in the world. The two main forms of IBD are Crohn's disease and ulcerative colitis.

In pre-market activity, shares of AbbVie are trading at $142.76, down 0.29% on the New York Stock Exchange.