Health Canada has approved Boey, a botulinum neurotoxin type E from AbbVie's Allergan Aesthetics unit, for the temporary improvement of moderate to severe glabellar lines in adults. Boey is the first and only approved botulinum neurotoxin serotype E with a rapid onset and short duration for this indication. Separately, Canaccord raised its price target on AbbVie to $273 from $265 and maintained a Buy rating, citing the strategic sense of AbbVie's acquisition of Apogee Therapeutics. AbbVie also announced European Commission approval of Maviret for treating acute hepatitis C virus infection in adults and children aged 3 years and older, making it the only treatment approved in the European Union for both acute and chronic HCV infection.
AbbVie IncHealth Canada approved Boey for frown lines, a new product approval.
Apogee Therapeutics, Inc. Common StockCanaccord cited AbbVie's acquisition of Apogee as strategically sensible.