AbbVie acquires Nimble Therapeutics to boost R&D

NORTH CHICAGO, Ill. - AbbVie (NYSE: NYSE:ABBV), a global biopharmaceutical company with a market capitalization of $299 billion and annual revenue exceeding $55 billion, has announced the completion of its acquisition of Nimble Therapeutics, a move aimed at strengthening its research and development pipeline with a focus on immunology. According to InvestingPro data, AbbVie maintains a strong financial position as a prominent player in the Biotechnology industry, with an EBITDA of $25.6 billion in the last twelve months. Nimble, now a subsidiary of AbbVie, brings to the table a novel oral peptide IL23R inhibitor currently in preclinical development for the treatment of psoriasis, along with a peptide synthesis platform.

The acquisition is expected to enhance AbbVie's immunology portfolio by incorporating Nimble's proprietary technology designed for the rapid discovery and optimization of oral peptide candidates. This technology could be pivotal in addressing a variety of targets within autoimmune diseases. With analysts projecting continued profitability and net income growth this year, as revealed by InvestingPro analysis, AbbVie appears well-positioned to leverage this acquisition for future growth.

Jonathon Sedgwick, Ph.D., senior vice president and global head of discovery research at AbbVie, expressed enthusiasm about the acquisition, stating, "We are excited to expand our immunology pipeline to include Nimble's novel oral peptide assets and look forward to integrating this proprietary technology into our R&D capabilities."

AbbVie is known for its work in several key therapeutic areas including immunology, oncology, neuroscience, and eye care, as well as products in the Allergan (NYSE:AGN) Aesthetics portfolio. The acquisition of Nimble is in line with AbbVie's mission to discover and deliver innovative medicines and solutions for serious health issues and medical challenges of the future.

While the acquisition appears promising, AbbVie has cautioned that forward-looking statements related to the acquisition are subject to risks and uncertainties that could cause actual results to differ materially from expectations. These risks include challenges to intellectual property, competition from other products, and the inherent difficulties in the research and development process.

The integration of Nimble's assets and technology into AbbVie's operations is anticipated to drive further innovation in the treatment of autoimmune diseases, as the company continues to strive for a significant impact on patient care. This news is based on a press release statement from AbbVie.

In other recent news, biotechnology giant AbbVie has announced several significant developments. AbbVie has partnered with Neomorph to develop molecular glue degraders, a new class of drugs targeting proteins involved in cancer and immune system disorders. This collaboration could lead to groundbreaking therapies for the treatment of these conditions. In terms of financial performance, AbbVie adjusted its full-year 2024 earnings per share to a projected range of $10.02 to $10.06 due to significant research and development costs.

On the analyst front, Guggenheim Securities reduced its price target for AbbVie to $212 while maintaining a Buy rating, and BMO Capital Markets maintained an Outperform rating. Both firms anticipate sustained growth for AbbVie, driven primarily by its drugs Skyrizi and Rinvoq.

AbbVie is also advancing its collaborations with other companies. With REGENXBIO, AbbVie is developing a gene therapy for two major eye diseases, with pivotal trial results expected in 2026. The company has expanded its partnership with AbCellera, focusing on the discovery of T-cell engagers for oncology treatments. These are all recent developments indicating ongoing advancements and growth at AbbVie.

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