Could This FDA Approval Create a Blockbuster Drug for AbbVie?
On Dec. 14, the U.S. Food and Drug Administration (FDA) approved AbbVie's (NYSE: ABBV) Rinvoq as a treatment for adult patients with psoriatic arthritis who failed at least one other tumor necrosis factor (TNF) inhibitor. A new indication is always a positive sign for a drugmaker, especially one like AbbVie that is seeking new growth avenues.
What prompted the FDA's approval of Rinvoq for its second indication? And what is the sales potential for the indication? Let's dig into the phase 3 clinical trial results of Rinvoq in treating psoriatic arthritis to answer these questions and decide if AbbVie stock looks like a good buy today.
Image source: Getty Images.
Source Fool.com
