AbbVie Shares Plunge 16% in Six Days Despite European Approval for Rinvoq Ranking 29th in Trading Volume

AbbVie (ABBV) shares fell 5.83% on April 8, 2025, marking the sixth consecutive day of decline, with a total decrease of 16.16% over the past six days. The company's trading volume reached 22.47 billion, ranking 29th in the day's market activity.

AbbVie has secured expanded European approval for its flagship autoimmune drug, Rinvoq, for the treatment of adult patients with giant cell arteritis. This approval makes Rinvoq the first oral JAK inhibitor available for this condition in the EU, offering patients a new treatment option.

The European Commission's authorization for Rinvoq in giant cell arteritis is a significant milestone for AbbVie, as it adds an eighth indication to the drug's portfolio. This approval underscores the drug's versatility and potential to address a broader range of autoimmune conditions.

The expanded approval for Rinvoq is expected to bolster AbbVie's market position in Europe, as it provides a much-needed treatment option for patients suffering from giant cell arteritis. This development could potentially drive future revenue growth for the company, as it expands the drug's market reach and patient base.