Investing.com - AbbVie rose Thursday after reporting that its leukemia treatment had received approval from the European Commission, expanding the reach of the drug across the European Union.
The approval would allow healthcare providers the ability to prescribe this medicine to a broader population of patients with retreat relapsed/refractory chronic lymphocytic leukemia than the previously approved indication for Venclyxto as monotherapy in the European Union, Abbvie said.
The approval was based on results from the Murano Phase 3 clinical trial, which tested the efficiency and safety of Abbvie's Venclyxto drug in combination with rituximab to treat patients suffering from retreat relapsed/refractory chronic lymphocytic leukemia compared to bendamustine in combination with rituximab.
The rise in shares of Abbvie helped offset losses from a day earlier, when the company slashed the European price tag of its rheumatoid arthritis drug, Humira, in a bid to stave off competition from cheaper alternatives.
(NYSE:ABBV) rose by 3.02% to trade at $80.200 by 13:35 (17:35 GMT) on Thursday on the NYSE exchange.
The volume of AbbVie shares traded since the start of the session was 6.34 million. AbbVie has traded in a range of $77.520 to $80.210 on the day.
The stock has traded at $83.1900 at its highest and $77.7500 at its lowest during the past seven days.