AbbVie shells out $440M on two PRVs for label expansions of its blockbuster Rinvoq
The priority review voucher market can be notoriously secretive, especially when companies purchase PRVs and don’t disclose where they’re planning to use the expedited FDA reviews.
For AbbVie, that strategy has been plain and simple so far: expand blockbuster Rinvoq’s label as quickly as possible.
Back in 2015, the Chicago-based biotech spent an eye-opening $350 million on a PRV from United Therapeutics — more than any other PRV sold ever — and used it to win approval for Rinvoq as a treatment for adults with moderately to severely active rheumatoid arthritis.
Now, the FDA said in a Federal Register notice today that AbbVie used another PRV, likely the one it purchased for $90 million from Eiger BioPharmaceuticals in 2020, to expand Rinvoq’s label again into adults with moderately to severely active ulcerative colitis.
Inflammatory bowel disease is the next frontier for Rinvoq, which is going to be one of the key ways for AbbVie to avoid a major fall following the launch of as many as 10 Humira biosimilars next year.
SVB Securities analysts explained in an investor’s note from May that AbbVie management “recently updated guidance to $7.5bn in 2025E sales for each Rinvoq and Skyrizi, while our 2025E estimates are $7.2bn for Rinvoq (vs. $6.1bn consensus) and $8.5bn for Skyrizi (vs. $7.6bn consensus).”
AbbVie did not immediately reply to a request for comment on whether it has purchased other PRVs too. But Big Pharma companies have swallowed up handfuls of these vouchers, with companies like Novartis (6 PRVs), Gilead (5) and AstraZeneca (4, thanks to its purchase of Alexion) winning or buying access to 15 PRVs combined.