AbbVie (ABBV.US) expands Oxford R&D facility in UK, betting on innovation in immunology, neuroscience, and oncology drugs

According to Golden Ten Data APP, American pharmaceutical company AbbVie (ABBV.US) announced on Wednesday that it has expanded its research and development facility in Oxford, UK, as part of an investment plan exceeding £120 million (approximately $161 million). This investment comes a few months after the United States and the United Kingdom finalized an agreement aimed at raising UK drug prices in line with the latest U.S. drug pricing policy introduced by President Trump.

The new facility, named "AbbVie Oxford," covers 12,000 square feet and will expand the company's research capabilities in the fields of immunology, neuroscience, and oncology. The facility builds upon technical capabilities obtained after the 2022 acquisition of Oxford-based biotechnology company DJS Antibodies. This investment will support related research, focusing on identifying new disease targets and combination therapies, particularly in areas with significant unmet medical needs.

AbbVie collaborates annually with more than 100 universities and research institutions in the UK and is expanding its partnerships with academic institutions, including the University of Oxford. A joint research project between AbbVie and Oxford University aims to understand how patients with certain inflammatory diseases respond to treatments throughout the course of their illness, to help guide future drug development. In addition, AbbVie's business divisions in Oxford, Maidenhead, and Marlow collectively employ over 1,100 staff in the UK.

AbbVie's financial report released at the end of last month showed that, driven by increased sales of immunology and neuroscience drugs, the company’s third-quarter revenue rose 10% year-on-year to $17.4 billion, surpassing analysts’ expectations of $17.32 billion. Adjusted earnings per share were $3.82, higher than analysts' forecast of $3.73.

Former "global drug king" Humira’s revenue for the third quarter fell to $683 million, down 31.2% year-on-year (as reported), continuing to face competitive pressure from biosimilars. However, the immunology segment was not diminished and successfully completed the handover to new products—the segment’s total revenue reached $9.17 billion, up 16.3% year-on-year. This was mainly due to the strong growth of two new follow-on drugs: Skyrizi and Rinvoq, which recorded $5.78 billion and $2.71 billion respectively, together contributing nearly half of the company's total revenue. Additionally, neuroscience portfolio revenue grew 19.4% to $3.39 billion; oncology business revenue increased slightly by 0.8%; aesthetics business revenue declined by 1.4%.

AbbVie now estimates full-year adjusted earnings per share to be between $13.95 and $13.99, higher than the previous guidance range of $13.76 to $13.96 and above analysts’ forecast of $13.91.