Why AbbVie (ABBV) Shares Are Trading Higher Today - AbbVie (NYSE:ABBV)

Health Canada has approved AbbVie Inc's ABBV Ubrelvy (ubrogepant) for the acute treatment of migraine, with or without aura, in adults.
Ubrelvy is the first orally-administered calcitonin gene-related peptide (CGRP) receptor antagonist (gepant) for migraine attacks once they start.
Calcitonin gene-related peptide (CGRP) is a neuropeptide in the peripheral and central nervous systems. CGRP is released from sensory nerve endings during a migraine attack.
Ubrogepant blocks the binding of CGRP to its receptor and antagonizes CGRP receptor function.
Related: AbbVie Reports Mixed Earnings, Tightens Guidance, Lifts Quarterly Dividend.
Ubrelvy was demonstrated to reduce or eliminate migraine pain with a single oral tablet, with the flexibility to take an optional second dose for persistent pain.
The efficacy of Ubrelvy for the acute treatment of migraine was demonstrated in two studies. These studies enrolled patients with a history of migraine with and without aura and who experienced 2 to 8 migraine attacks per month with moderate to severe headache pain.
Patients were permitted to use standard migraine preventive medications during the study. At baseline, 23% percent of patients were taking preventive medications for migraine.
Price Action: ABBV shares are up 2.24% at $156.47 on the last check Wednesday.

AbbVie's Migraine Treatment Scores Canadian Approval