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AbbVie’s Immunology Growth Strategy Is Delivering, But Imbruvica Reduced By IRA

 
• By Joseph Haas

AbbVie’s $2.1bn write down of Imbruvica’s value is tied directly to Medicare drug price negotiations. Humira’s US biosimilar erosion continued as projected, while the Skyrizi/Rinvoq duo are set to top Humira peak sales by 2027.

Writeoff
AbbVie has written down Imbruvica's value by $2.1bn • Source: Shutterstock

Already struggling due to new competition in the Bruton’s tyrosine kinase (BTK) inhibitor class, AbbVie Inc.’s Imbruvica (ibrutinib) has been hemorrhaging revenues and did so again during the third quarter, the firm reported 27 October. But AbbVie has now written down the drug’s value by $2.1bn after the Centers for Medicare and Medicaid Services selected the chronic lymphocytic leukemia therapy for price negotiation under the Inflation Reduction Act (IRA).

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