AbbVie Korea sales up twofold in two years

New drugs for autoimmune diseases show strength

Topped KRW 300B in sales last year…up 32% year-over-year

Following Humira, Rinvoq·Skyrizi show marked sales

With its new drugs for immune diseases, AbbVie Korea's sales have reportedly increased twofold in two years.

 

AbbVie Korea is successfully transitioning generational changes for Humira follow-up of new drugs, including Skyrizi and Rinvoq.

 

According to the Financial Supervisory Service on April 4, AbbVie recorded KRW 308.9 billion last year, up 32% from KRW 234.7 billion in 2023.

 

Its operational profits for the same period increased from KRW 11.5 billion to KRW 14.7 billion, up 27%.

 

AbbVie Korea

AbbVie Korea's sales have been led by Humira.

 

Developed by the global pharmaceutical company AbbVie, Humira is a treatment for autoimmune diseases, and it was approved in the United States in 2003.

 

Humira is indicated for 15 autoimmune disease areas, including rheumatoid arthritis, Crohn's disease, ulcerative colitis, and psoriasis.

 

However, after the Humira patent expired, the introduction of biosimilars, follow-up biological drugs with the same indications, and Janus Kinase (JAK) inhibitors led to declining sales.

 

According to market research firm IQVIA, Humira sales once recorded KRW 104.0 billion in 2020 and decreased to KRW 80 billion in 2022.

 

Consequently, there haven't been significant changes to AbbVie Korea's sales.

 

AbbVie Korea recorded KRW 146.7 billion in 2020, KRW 140.4 billion in 2021, and KRW 154.6 billion in 2022, maintaining the KRW 100 billion sales range.

 

However, in 2023, the domestic market saw significant traction for Rinvoq and Skyrizi, contributing to a substantial increase in AbbVie Korea's sales.

 

AbbVie Korea recorded sales of KRW 234.7 billion in 2023, a 52% year-over-year increase.

 

For the first time last year, its sales exceeded KRW 300 billion, with last year's total of KRW 308.9 billion representing a 100% increase compared to two years ago.

 

Rinvoq, a JAK inhibitor that selectively targets JAK1, was approved in Korea in 2020 for the treatment of rheumatoid arthritis.

 

It subsequently gained approval in 2021 for atopic dermatitis, and in 2022 and 2023, it expanded its indications to include ulcerative colitis and Crohn's disease, respectively.

 

Sales for Rinvoq have increased with its expanded indications.

 

According to market research firm UBIST, Rinvoq's sales in Korea increased by 450% from KRW 1.4 billion in 2021 to KRW 7.7 billion in 2022.

 

After surpassing KRW 10 billion in early 2023, sales reached KRW 26.1 billion last year, setting a new record.

 

AbbVie Korea is also optimistic about the growth prospects for 'Skyrizi,' a biologic targeting interleukin (IL)-23.

 

Approved in 2019 for plaque psoriasis, Skyrizi was approved later in 2022 for psoriatic arthritis, and last year for palmoplantar pustulosis.

 

According to IQVIA, Skyrizi's sales climbed steeply from KRW 8.4 billion in 2021 to KRW 16.5 billion in 2022, and then to KRW 27.6 billion in 2023.

 

As of 2023, the combined sales of Rinvoq and Skyrizi have exceeded KRW 50 billion, signaling a successful generational transition from Humira in the autoimmune disease area.

 

A CGRP peptide new drug,

AbbVie Korea also optimistic for its next-generation drugs.

 

Last year, the company received domestic approval for 'Aquipta,' a CGRP peptide new drug related to calcitonin genes.

 

In this area, competitors such as Eli Lilly's Emgality and Teva's Ajovy have already made tractions, but Aqipta's advantage lies in its oral formulation.

 

Furthermore, AbbVie Korea secured domestic approval last year for its bispecific antibody new drug, 'Epkinly,' which targets CD20 and CD3 expressed in blood cancers.

 

Epkinly is indicated for the treatment of relapsed or refractory diffuse large B-cell lymphoma (DLBCL).

 

In a global Phase 1/2 EPCORE NHL-1 study, Epkinly achieved an overall response rate (ORR) of 62%, with a complete response (CR) rate of 39%.