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    • Abbvie to record $4...

    Abbvie to record $4 billion impairment charges on Stemcentrx assets

    Medical Dialogues BureauWritten by Medical Dialogues Bureau Published On 2019-01-06T09:00:55+05:30  |  Updated On 16 Aug 2021 2:05 PM IST

    The drugmaker acquired Rova-T through its $5.8 billion acquisition of Stemcentrx in 2016, as it aimed to enter the broad and lucrative arena of solid tumours and lessen dependence on its blockbuster arthritis treatment Humira.


    United States: Abbvie Inc on Friday said it will record an estimated $4 billion in impairment charges related to the scrapping of its development program of Rova-T, an investigational cancer therapy.


    The drugmaker acquired Rova-T through its $5.8 billion acquisition of Stemcentrx in 2016, as it aimed to enter the broad and lucrative arena of solid tumours and lessen dependence on its blockbuster arthritis treatment Humira.


    Read Also: AbbVie stops enrollment for a late-stage trial of Rova-T


    In December, Abbvie halted enrollment for a late-stage trial of Rova-T as second-line therapy for advanced small-cell lung cancer, following recommendations made by an independent data monitoring committee.


    Abbie said it will monitor a remaining $1 billion of intangible assets for further impairment. It added that it will continue to evaluate other Stemcentrx-related clinical development programs.


    Read Also: Lupin and AbbVie announces the partnership to develop, commercialize Novel Oncology Drug

    AbbViearthritiscancerHumiraRova-Tsmall-cell lung cancerStemcentrx assetstreatment
    Source : Reuters

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    Medical Dialogues Bureau
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      Medical Dialogues Bureau consists of a team of passionate medical/scientific writers, led by doctors and healthcare researchers.  Our team efforts to bring you updated and timely news about the important happenings of the medical and healthcare sector. Our editorial team can be reached at editorial@medicaldialogues.in. Check out more about our bureau/team here

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