FDA Approves AbbVie's JAK Inhibitor Application For Active Psoriatic Arthritis


27% profit every 20 days?

This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.


The FDA approved AbbVie Inc's (NYSE:ABBV) Rinvoq (upadacitinib; 15 mg) for active psoriatic arthritis (PsA).

ENTER TO WIN $500 IN STOCK OR CRYPTO

Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!

  • Like Pfizer Inc's (NYSE:PFEapproval for Xeljanz, Rinvoq's approval also covers adult patients who have had an inadequate response or intolerance to one or more tumor necrosis factor (TNF) blockers.
  • Earlier this month, the FDA slapped boxed warnings on the labels of Xeljanz, Rinvoq, and Eli Lilly And Co's (NYSE:LLY) Olumiant, flagging the risk of cardiovascular events in high-risk patients who are 50 years and older.
  • Rinvoq helped psoriatic arthritis patients treated with 15 mg doses achieve higher ACR50 responses (an improvement of at least 50%) than placebo in two Phase 3 trials. 
  • In the trials, 38% and 32% of patients on Rinvoq achieved ACR50 responses, compared to 13% and 5% on placebo, respectively.
  • The Rinvoq arms also boasted 16% and 9% ACR70 responses, compared to 2% and 1% in the placebo arms, respectively. 
  • Price Action: ABBV shares are up 1.93% at $129.73 on the last check Wednesday.

27% profit every 20 days?

This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.


Posted In: BiotechNewsHealth CareFDAGeneralBriefs