Shares of (NYSE: ABBV) were jumping 4.2% higher as of 11:37 a.m. ET on Thursday. The nice gain came after the big drugmaker revealed that it had settled litigation with all companies that have filed abbreviated new drug applications (ANDAs) with the U.S. Food and Drug Administration (FDA) to make generic versions of AbbVie's autoimmune disease drug Rinvoq.

AbbVie currently awaits pediatric exclusivity for Rinvoq. If this is granted, the company doesn't expect generic competition for the drug before April 2037 in the U.S.

Image source: Getty Images.

Continue reading

Source Fool.com