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Fly News Breaks for August 16, 2019
ABBV, AGN
Aug 16, 2019 | 14:17 EDT
Piper Jaffray analyst Christopher Raymond said the approval of Rinvoq ahead of Monday's PDUFA date was "generally in line with expectations" in terms of timing. While Rinvoq did not avoid the black box class labeling seen with other JAKs, he thinks based on his previous survey work that uptake of the drug should "both be robust and minimally impactful to Humira." Raymond keeps a Neutral rating on AbbVie (ABBV) shares, citing his concerns about Humira pressure and over the planned combination with Allergan (AGN).