AbbVie Joins Obesity Treatment Market With Up to $2.2B Licensing Deal
1. AbbVie licenses weight-loss drug GUBamy from Gubra for up to $2.2 billion. 2. Drug is in Phase 1 trial, competing with Eli Lilly and Novo Nordisk. 3. Market for weight-loss drugs projected to reach $130 billion by 2030. 4. AbbVie pays $350 million upfront, potential $1.875 billion during development. 5. AbbVie shares rose over 1% following the announcement, up nearly 20% this year.