Ab­b­Vie shares slide on slid­ing Hu­mi­ra rev­enue; Deer­field is mak­ing a big in­vest­ment in new de­vice star­tups

→ Ab­b­Vie trig­gered alarm bells on Wall Street to­day as the phar­ma com­pa­ny cit­ed biosim­i­lar com­pe­ti­tion in Eu­rope for a steep de­cline in ex­pect­ed Hu­mi­ra rev­enue. Shares $AB­BV dropped 7% on the news. Sales in Eu­rope are ex­pect­ed to drop 30% this year, though so far Ab­b­Vie has been able to re­tain mar­ket ex­clu­siv­i­ty for the mega-block­buster in the US for some years to come.

→ Deer­field Man­age­ment and Stan Rowe have cre­at­ed a new de­vice in­cu­ba­tor called NXT Bio­med­ical. The in­cu­ba­tor plans to in­vest up to $25 mil­lion over the next 5 years and Deer­field — a pro­lif­ic in­vestor — will al­lo­cate up to $250 mil­lion for 5 to 8 start­up com­pa­nies that emerge from the in­cu­ba­tor.

Endpoints News

Unlock this article instantly by becoming a free subscriber.

You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.