Approval of risankizumab would further strengthen AbbVie's position in psoriasis market, says report

If European approval is granted for AbbVie’s (NYSE: ABBV) risankizumab for moderate-to-severe plaque psoriasis, the company could further strengthen its position in the psoriasis market, a new report has suggested

In 2017, AbbVie reported that Humira (adalimumab), an anti-tumor necrosis factor (TNF) biologic indicated for multiple immunological disorders including psoriasis, generated global sales of $18.42 billion, accounting for 65% of AbbVie’s total net revenue. Risankizumab is an investigational compound that has been designed by AbbVie to selectively inhibit interleukin (IL)-23 by binding to its subunit, p19. AbbVie has submitted a marketing authorization application (MAA) for risankizumab to the European Medicines Agency.

Data and analytics company GlobalData’s pharma analyst Vikesh Devlia comments: “With the anticipated launch of Humira biosimilars in the EU starting from October 2018, AbbVie’s position is threatened in the psoriasis market by both biosimilar erosion and other major pharma companies gaining approval for their IL-17 and IL-23 biologics.