AbbVie Wins EU Nods; Moderna Surges 125% YTD

AbbVie ($ABBV) announced that the European Medicines Agency's Committee for Medicinal Products for Human Use (CHMP) adopted positive opinions recommending approval of upadacitinib (RINVOQ) at 15 mg and 30 mg once daily for the treatment of adult and adolescent patients with severe alopecia areata, and at 15 mg once daily for non-segmental vitiligo. The final European Commission decision is expected in the coming months, with RINVOQ expected to be the first systemic medication for patients with non-segmental vitiligo if approved.

$MRNA shares have gained 125.51% year to date, driven by an FDA flu vaccine win, a corporate pivot, and an expanding pipeline. Eli Lilly ($LLY) has gained roughly 6% over the past 30 days, with the Street expecting more than 13.6% upside from current levels. Pfizer ($PFE) Chief International Commercial Officer Alexandre de Germay stated that China has moved ahead of Europe in pharmaceutical innovation and drug development, with China now accounting for 40% of all clinical studies in oncology globally.

Regeneron Pharmaceuticals ($REGN) announced that the FDA and the European Medicines Agency accepted regulatory applications for cemdisiran to treat adults with generalized myasthenia gravis who are anti-acetylcholine receptor antibody-positive. RBC Capital maintained a Sector Perform rating on $REGN with a $707 price target, though the firm noted that $ABBV's acquisition of Apogee Therapeutics is a net negative for the company.

DexCom ($DXCM) announced that the FDA cleared growing use of its Stelo Glucose Biosensor beyond adults for children ages 2 and older who do not use insulin. President and CEO Jake Leach stated that glucose matters for everyone, and the company plans to broaden access to continuous glucose monitoring technology.

Masimo, a specialty diagnostics solutions innovator within Danaher Corporation ($DHR), announced FDA 510(k) clearance for an opioid-induced respiratory depression detection capability integrated into the Radius VSM wearable continuous patient monitor. Thermo Fisher Scientific ($TMO) completed a $1.075B sale of its microbiology business at a 1.7x sales multiple, which was noted as dilutive to earnings per share.

UnitedHealth Group ($UNH) has gained more than 10% over the past 30 days and is now trading close to its 52-week high. The performance has been driven by positive analyst upgrades and a proposed FTC action, with Bank of America raising its price target on the stock while maintaining a Buy rating.

Johnson & Johnson ($JNJ) prevailed in a Los Angeles jury trial on June 6, with the jury finding that the company was not negligent in a lawsuit alleging its talc products led to ovarian cancer in three women. The verdict provides a legal win for $JNJ as it continues to defend against similar product liability claims related to its talc-based consumer products.

The European Commission is expected to issue final decisions on $ABBV's upadacitinib applications for alopecia areata and non-segmental vitiligo in the coming months, following the positive CHMP opinions. Regulatory applications for $REGN's cemdisiran are now under review at both the FDA and European Medicines Agency for generalized myasthenia gravis. Broader healthcare equity performance may continue to face headwinds from persistent inflation, with core PCE inflation sitting at 3.4% year over year and E-mini S&P 500 futures down approximately 0.3%.