Re: ABBV
reason for ABBV's drop. Maybe they could use VMAT revenue next year
U.S. Food and Drug Administration staff members on Friday said Celltrion Inc's biosimilar form of Johnson & Johnson's Remicade arthritis drug appeared "highly similar" to the widely used branded product.
The news sent shares of J&J, whose annual Remicade sales of $6.5 billion are mostly in the United States, down almost 4 percent. It also hit AbbVie Inc and Amgen Inc, whose arthritis treatments work the same way.
AbbVie, whose Humira is the world's top-selling drug, fell nearly 6 percent, and Amgen, maker of Enbrel, was down 3 percent. Pfizer Inc, which has teamed up with South Korea's Celltrion in marketing the biosimilar, rose nearly 1 percent.