New York, January 12, 2026, 13:31 EST — Regular session
- AbbVie shares slipped 0.6% in afternoon trading following the licensing deal for RC148 from China’s RemeGen
- RemeGen will receive $650 million upfront, along with potential milestones and royalties totaling up to $4.95 billion
- AbbVie has also agreed to buy a device manufacturing plant in Tempe, Arizona, from West Pharmaceutical Services
AbbVie Inc shares slipped Monday following news of a new collaboration with China’s RemeGen to co-develop an experimental solid-tumor drug, as the company ramps up efforts to expand its cancer portfolio via licensing deals. By 1:30 p.m. EST, AbbVie was down 0.6% at $218.81.
Investors are focused on how fast AbbVie can transform its oncology pipeline into a real growth driver instead of just another distant promise. The company said the drug could create new combination opportunities with its antibody-drug conjugates, or ADCs — targeted cancer therapies linking an antibody to a cell-killing payload. “We have the potential to identify meaningful options for patients across a range of solid tumors,” said oncology chief Daejin Abidoye. AbbVie News Center
AbbVie also announced plans to acquire a device manufacturing plant in Tempe, Arizona, along with related intellectual property from West Pharmaceutical Services. The move aims to boost its drug-delivery capacity for immunology and neuroscience treatments. CEO Robert Michael said, “With this investment, AbbVie is strengthening our manufacturing capabilities.” The company intends to hire around 200 employees at the facility and invest over $175 million to purchase and upgrade it. The deal is slated to close by mid-2026. AbbVie News Center
AbbVie has secured rights to develop, manufacture, and commercialize RC148 outside Greater China under the licensing deal with RemeGen, which retains rights within its domestic market. RemeGen will pocket $650 million upfront and stands to gain up to $4.95 billion through milestone payments linked to trial progress, regulatory approvals, and sales performance. On top of that, they’ll receive tiered, double-digit royalties on net sales outside Greater China. RemeGen CEO Jianmin Fang described the agreement as “a significant milestone” for the company. PR Newswire
RC148 is a bispecific antibody, designed to bind two targets simultaneously. It blocks PD-1, a checkpoint protein that suppresses immune cells, and VEGF, a factor tumors use to grow new blood vessels. The drug is currently under investigation for several solid tumors, including lung and breast cancers, according to BioPharma Dive.
AbbVie slid alongside other health-care shares, which trailed the wider market. The Health Care Select Sector SPDR Fund dropped roughly 0.7%, and the biotech-heavy XBI ETF fell close to 2%. Meanwhile, the S&P 500 ETF edged up a bit.
The PD-1/VEGF space is packed. Bristol Myers Squibb, Merck, and Pfizer have all invested in similar candidates, according to BioSpace, raising the bar for late entrants to deliver standout data or unique combos.
The news came as the healthcare sector gathered in San Francisco for JPMorgan’s annual conference week, a key event that typically sparks a flurry of deal activity. Initial sessions, however, showed few megadeals and a subdued mood in biotech, Barron’s noted.
For AbbVie, the pressing issue isn’t the “up to” $650 million headline figure but when the money will actually flow. The upfront $650 million gets them a stake in the game, yet real revenue hinges on trial outcomes and clearing regulatory hurdles—which could drag on for years.
Still, nothing is guaranteed. RC148 remains experimental, and initial trial results often lose strength as more data comes in. AbbVie must juggle funding for pipeline projects alongside manufacturing costs and shareholder demands, particularly if investors grow more cautious.
Up next: the conference microphone. AbbVie is set to speak at the J.P. Morgan Healthcare Conference on Jan. 14 at 8:15 a.m. Pacific, per the agenda. This will offer investors a timely peek at the company’s priorities, pipeline, and appetite for deals.
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