AbbVie announced a new partnership with Valkai, a life sciences AI platform. The collaboration will enhance AbbVie's artificial intelligence capabilities across clinical development. It aims to improve efficiency in clinical research, accelerate insight generation, and potentially reduce drug development timelines. This partnership builds on AbbVie's existing AI use in research and development.
Bank of America Securities raised its price target on AbbVie's stock to $289 from $282, while maintaining a Buy rating.
AbbVie recently received FDA approval for JUVMO (tavapadon), a new Parkinson's disease treatment. The company expects a U.S. launch in October.