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MarketBeat
MarketBeat
Chris Markoch

AbbVie Stock Boosts Portfolios With Entry Into Weight Loss Market

ABBV AbbVie Weight Loss MarketBeat
[content-module:CompanyOverview|NYSE:ABBV]

AbbVie Inc. (NYSE: ABBV) is trading near an all-time high after the company announced a licensing agreement with Gubra, a Danish company. The agreement pertains to Gubra’s experimental weight loss drug, which is in a Phase 1 trial.

AbbVie paid Gubra a $350 million upfront payment for the right to its experimental weight loss drug, GUB014295, which is in a Phase 1 trial. AbbVie has committed to paying Gubra up to $1.9 billion based on certain development and sales milestones that are met.

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