Perry C. Siatis, Executive Vice President, General Counsel and Secretary at AbbVie Inc . (NYSE:ABBV), recently sold a significant portion of his holdings in the company. The transaction comes as AbbVie’s stock trades near its 52-week high of $207.32, with shares up approximately 15% year-to-date and maintaining a "GOOD" Financial Health score according to InvestingPro analysis. According to a recent SEC filing, Siatis sold a total of 5,778 shares of AbbVie common stock on February 20, 2025. The shares were sold at prices ranging from $197.4 to $198.12 per share, amounting to a total transaction value of approximately $1.14 million.
The sales were executed under a Rule 10b5-1 plan, which Siatis had established on November 19, 2024. Following these transactions, Siatis now holds 22,381 shares of AbbVie stock. These sales highlight the ongoing activity of AbbVie executives in managing their equity positions within the company.
In other recent news, AbbVie has made significant strides across various fronts. The U.S. Food and Drug Administration (FDA) approved EMBLAVEO™, a novel antibiotic for treating complicated intra-abdominal infections, marking a pivotal development for patients with limited treatment options. This approval, supported by the Phase 3 REVISIT study, underscores AbbVie’s commitment to addressing antimicrobial resistance. In financial maneuvers, AbbVie secured a $3 billion unsecured revolving credit facility, increasing its total borrowing capacity to $8 billion, reflecting strategic financial planning for future investments.
In addition, AbbVie has entered into a collaboration with Xilio Therapeutics to develop tumor-activated immunotherapies. Xilio will receive $52 million upfront, with potential payments up to $2.1 billion contingent on reaching specific milestones. This partnership highlights AbbVie’s ongoing efforts to expand its oncology research and development. Meanwhile, Mustang Bio (NASDAQ:MBIO) has finalized an agreement with AbbVie Bioresearch Center, selling certain assets and terminating its lease early, which is expected to save Mustang Bio approximately $2 million in lease-related payments.
These developments reflect AbbVie’s dynamic approach to enhancing its pharmaceutical and financial strategies.
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