As part of its strategy to offset the coming Humira patent cliff, AbbVie Inc. is looking to oncology as a "significant pillar of growth" going forward, a gambit CEO Richard Gonzalez says will benefit greatly from both the pipeline candidates and the solid tumor R&D engine his company will obtain in the $5.8bn purchase of Stemcentrx announced April 28.
The transaction was unveiled in tandem with AbbVie's first quarter earnings call, during which the company reported an 18.2% year-over-year increase in net revenues to $5.96bn, with Humira (adalimumab) up 14.9% to $3.58bn ([A#14160129004])
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