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Meta-Description: Drugmaker AbbVie could be set up for a big year in 2025 after completing another successful clinical trial for its Parkinson’s medication.
Biotech firms live and die on the success of the medications they develop and clinical testing is an essential part of that process. A failed test could portend a down period with reduced earnings, whereas a successful test could set the company’s stock up for a major boost. Illinois-based AbbVie (NYSE:ABBV) hopes its recent successful clinical test of a Parkinson’s medication might make 2025 another banner year for the drugmaker.
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The company recently announced the successful completion of a third “late-stage” clinical trial for tavapadon, a Parkinson’s disease medication. That successful test will allow AbbVie to seek the Food and Drug Administration’s (FDA) official approval to bring the drug to market. Clinical test patients who were given tavapadon showed improved motor skills and reduced neurological effects of Parkinson’s when compared to placebos. This was a key measuring stick for the company.
The experimental group received daily doses of tavapadon that varied in size between five and 15 milligrams for 26 weeks. In announcing the results, Primal Kaur, AbbVie’s Senior VP of immunology, neuroscience, eye care and specialty development said, “With these data in hand, we look forward to working with regulatory agencies to assess next steps, bringing us one step closer to providing tavapadon for those living with this chronic, debilitating disease.”
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Tavapadon testing also produced satisfactory results regarding patient safety and side effects. The trial included 304 adults between 40 and 80 years of age, all confirmed Parkinson’s patients. The National Institute of Neurological Disorders and Stroke estimates that as many as one million Americans suffer from Parkinson’s disease and the Parkinson’s Foundation says over 90,000 new cases are diagnosed in America every year.
That creates a large and continuous potential market for tavapadon and if FDA approval is granted, AbbVie shareholders could reap the benefits. AbbVie is already a tremendously successful company with a range of highly prescribed medications that include:
· Humira-Rheumatoid Arthritis and Crohn’s Disease medication
· Skyrizi-Psoriasis medication
· Imbruvica-Leukemia and Lymphoma medication
· Vraylar-Bipolar and Depressive Disorder medication
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AbbVie’s current stock price is $174.59 per share and its estimated market cap (per Benzinga) is $307.70 billion. Its consistent success in developing effective and profitable medication gives AbbVie stockholders a 3.75% dividend, which translates to a respectable $6.60 per share in passive income. If tavapadon gains FDA approval, it is quite likely that AbbVie’s share price and dividend could increase significantly.
Even if tavapadon isn’t approved by the FDA next year, AbbVie’s history of developing successful medications suggests it will eventually gain approval. Adding tavapadon to AbbVie’s already strong lineup of treatments for chronic diseases could push AbbVie’s share price upward dramatically. That’s why this biotech stock is worthy of strong consideration by passive income and growth investors in 2025.
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This article This Drugmaker’s (ABBV) Parkinson’s Medication Just Cleared A Key Hurdle – Is It Primed For A Monster Year In 2025? originally appeared on Benzinga.com
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