Biotech

  • Wellteq launches beta production of the HealthHub, a hardware and API as a service offering which extends Wellteq's digital health solutions beyond corporate wellness and insurance and into primary virtual care.

  • The Health Hub and API form the foundation for Wellteq's condition management and virtual primary care platform, called "Wellteq Plus."

  • The HealthHub houses an 8-core processor, large memory footprint, and a versatile machine-learning secondary processor that supports Natural Language Processing (NLP) and auto update models for artificial intelligence (AI).

  • The HealthHub's custom wireless chipset and optimized firmware stack enables support of 500+ connected devices simultaneously, offering utility to a range of clinical and remote virtual care settings.
  • Wellteq has also secured a partnership with a global end-to-end manufacturing, logistics, and warranty provision and management company, enabling cost efficient fulfilment to customers globally.

WellteQ Digital Health Inc. (CSE:WTEQ) (the "Company" or Wellteq") is pleased to announce the Company has launched beta production of its new Internet of Medical Things (IoMT) HealthHub and API as a service offering, targeting commercial release later this year.

At Wellteq, we are leveraging the IoMT to fast track our capabilities within condition management and virtual primary care. We call our IoMT condition management and virtual primary care platform Wellteq Plus. Together, the Wellteq mobile application and the Wellteq Plus IoMT platform follow the user across the continuum of care, from wellness to virtual primary care.

The HealthHub is an entirely new IoMT platform developed by Wellteq, which can connect, manage, and monitor any standardized device using edge computing. Edge computing is part of a distributed computing topology in which information processing is located close to the physical location where things and people connect with the network. Edge computing augments and expands the possibilities of today's primarily centralized, hyperscale cloud model and supports the systemic evolution and deployment of the IoMT and new application types, enabling next-generation digital health applications. The HealthHub also offers contingency to cloud server processing in the case of a network outage.

The HealthHub has been built upon Wellteq's next generation "Unified API" which allows for secure remote monitoring and management and enables 3rd party integrations with all aspects of the HealthHub and API, such as Amazon's Prime Health, Google Health and Microsoft Health with its' newly acquired Nuance natural language processing (NLP) capability, allowing the HealthHub to be an integral value add for both new and existing ePHI systems. (ePHI, or electronic Protected Health Information, is any protected health information that is created, stored, transmitted, or received in any electronic format or media.) Wellteq's Unified API will service Wellteq's client applications as well as the HealthHub and other IoMT (and IoT) hardware devices and will also be delivered as a standalone "API as a Service" product. All the features and functionality delivered through Wellteq's client applications and hardware will be offered as standalone services for clients and partners to integrate with their own applications, services, and systems. This includes IoMT metrics capture, processing, and automations, wellness tracking with personalized digital coaching, reward scheme management, social activities and interactions, news feeds and more.

A powerful 8-core processor, large memory footprint, and a versatile machine-learning secondary processor enable the hub to handle a wide variety of services, including NLP and auto-updated training models for AI. To best support the wide variety of IoMT devices, Wellteq has designed a custom wireless chipset, enabling connectivity with Wi-Fi, Bluetooth, Zigbee, Z-Wave, and, optionally, cellular. Alongside the wireless chipset is a completely customized and optimized firmware stack that helps manage the multitude of wireless protocols, allowing the HealthHub to support 500+ connected IoMT and/or IoT devices simultaneously. In comparison, most digital health device deployments currently rely on the user's mobile phone for connectivity with a small number of devices.

In addition, Wellteq now also has the capability to completely fabricate hardware prototypes in-house, through its recently completed prototype lab. Utilizing the same industrial machines that the U.S. Air Force, CIA, and Department of Justice use for rapid prototyping and first run production builds, Wellteq will be able to iterate in days instead of weeks or months.

Daniel Starbuck, Wellteq's CTO stated, "In this early stage of bringing prototype production in house, Wellteq has already seen huge impacts on current hardware designs. By bringing the production of manufacture grade prototypes under the preview of our engineers, Wellteq has been able to make decisions on hardware designs that will significantly reduce the gross cost of production. This internal prototype production capability gives Wellteq the ability to quickly adjust to market needs."

Wellteq has also secured a partnership with a global end-to-end manufacturing, logistics and warranty provision and management entity which is expected to bring further significant cost benefits and reduce Wellteq's overhead in delivering its IoMT solution to end users.

About WellteQ Digital Health Inc.

WellteQ Digital Health Inc. is a leading provider of corporate wellness solutions developed to provide data-driven personalized health and wellness coaching to engage its users in healthier behaviours. As an enterprise (business-to-business) model, Wellteq currently has two main sectors of customers: employers and insurance companies. Wellteq has secured a large multinational portfolio of customers, including UBS, DBS and Bupa Insurance, and reseller partners, like Willis Towers Watson, Advanced Human Imaging and Garmin. Wellteq is developing its newly acquired Internet of Medical Things (IoMT) platform for virtual care applications which will extend the Wellteq continuum of care from preventative wellness through to virtual healthcare.

Wellteq Investor Contact:

Glen Akselrod
Bristol Investor Relations
E: glen@bristolir.com
T: (905) 326-1888

Cautionary Note Regarding Forward-Looking Statements:

This news release contains information or statements that constitute "forward-looking statements." Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by words such as "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur.

Forward looking information may include, without limitation, statements regarding the operations, business, financial condition, expected financial results, performance, prospects, opportunities, priorities, targets, goals, ongoing objectives, milestones, strategies and outlook of Wellteq, and includes statements about, among other things, future developments and the future operations, strengths and strategies of Wellteq. Forward-looking information is provided for the purpose of presenting information about management's current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. These statements should not be read as guarantees of future performance or results.

The forward-looking statements made in this news release are based on management's assumptions and analysis and other factors that may be drawn upon by management to form conclusions and make forecasts or projections, including management's experience and assessments of historical trends, current conditions and expected future developments. Although management believes that these assumptions, analyses and assessments are reasonable at the time the statements contained in this news release are made, actual results may differ materially from those projected in any forward-looking statements. Examples of risks and factors that could cause actual results to materially differ from forward-looking statements may include: the timing and unpredictability of regulatory actions; regulatory, legislative, legal or other developments with respect to its operations or business; limited marketing and sales capabilities; early stage of the industry and product development; limited products; reliance on third parties; unfavourable publicity or consumer perception; general economic conditions and financial markets; the impact of increasing competition; the loss of key management personnel; capital requirements and liquidity; access to capital; the timing and amount of capital expenditures; the impact of COVID-19; shifts in the demand for Wellteq's products and the size of the market; patent law reform; patent litigation and intellectual property; conflicts of interest; and general market and economic conditions.

The forward-looking information contained in this news release represents the expectations of Wellteq as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. Wellteq undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

The CSE has neither approved nor disapproved the contents of this news release.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/df8875c5-d730-4bd4-a8b4-d32439ce15de



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WellteQ Digital Health

WellteQ Digital Health

Overview

In 2020, the COVID-19 global pandemic shook traditional healthcare structures on a worldwide level. Not only did healthcare institutions need integrated systems to manage the influx of patients and personalized information, but companies needed to keep track of the wellness of their teams as large numbers of employees switched to remote work environments.

In this increasingly digital age, the sphere of telemedicine helped to not only revolutionize healthcare navigation but our perception of wellness management. Telemedicine has proven that the world could use innovative digital technologies to not only manage health complications but potentially proactively prevent them. As the global healthcare market is forecasted to grow to nearly US$11.9 trillion by 2022, investing in wellness technology today is investing in the healthcare of tomorrow.

WellteQ Digital Health (CSE:WTEQ) (OTCQB:WTEQF) is a digitally driven health and wellness company aiding the transition from old school healthcare navigation to a more personalized data-driven patient experience. Through data capture, artificial intelligence and analytics solutions, the company seeks to help people take control of their own wellness and overcome accessibility issues around health.

WellteQ customers currently include employers and insurance companies. In December 2020, Singapore reported stress alone can cost companies an estimated US$3.1 billion per year. To prevent such costs and ensure employee success, companies and insurers are making employee health and stress management major priorities for corporate wellness programs.

WellteQ's philosophy emphasizes rethinking wellness through preventative and proactive solutions instead of focusing on the reactionary treatment of health. In 2017, WellteQ partnered with Garmin to receive biometrics from Garmin's wearable biotech and incorporate that data into its advanced wellness portal and analytic solutions. Future generations of this technology combination are expected to support more health and wellness programming.

Operating out of one of the densest population zones in the world, the company also intends on expanding its APAC user base to larger worldwide markets. The completely digitally driven model means unlimited scalability and international localization. Likewise, WellteQ has designed its program to be a multifaceted digital solution that impacts every aspect of healthcare, including mental, behavioral and physiological health.

The company has plans to leverage the positive trends in telemedicine and upgrade its programming for a more unified user experience. The company has plans to upgrade their accessible API architecture to handle more data and integrated device connectivity. This optimization could allow algorithms to create a complete picture of health on an ongoing basis.

The growing WellteQ team consists of passionate professionals dedicated to innovating global health and telemedicine. With experience in commercial, medical and software engineering fields, the diverse team brings world-class expertise that has provided the foundation for its technical growth and economic success.

WellteQ Digital Health's Company Highlights

  • WellteQ is a digitally driven health and wellness company focused on providing users with programs that help them take back control of their health and engage in proactive and preventative wellness measures.
  • The employee wellness app is a software and hardware hybrid that incorporates an intuitive wellness portal with innovative wearables like Garmin, Apple Watch and FitBit.
  • Historically, WellteQ customers have been employers and insurance companies in Asia Pacific markets. The company has significant plans for global expansion with current operations in over 30 countries and counting.
  • WellteQ has partnered with tech giants like Garmin, Myfiziq, i-Screen, Savonix and Doctor Anywhere to create a fully integrated platform that helps track, assess and provide AI-driven analytics for its users and their employers and insurers.
  • Plans for 2021 and 2022 include expanding across the continuum of personalized care with added functions like chronic condition management.
  • Wellteq has signed a perpetual license agreement for sleep chronotype assessments and education content from one of Asia Pacific's leading sleep technology companies.
  • Dr. Peter W. Vaughan, CM, CD, MA, MD, MPH, ICD.D, Chairman of the Board of Directors at WellteQ Digital Health Inc. has been appointed to the Order of Canada.

WellteQ Employee Wellness App

The WellteQ specialized wellness software uses data sources inside the app and from wearable tech to create personalized profiles that coach users through an algorithm for risk-assessment and supportive lifestyle behaviors. This software-hardware hybrid for healthcare management has helped to address the high-demand for personalized and value-added digital health management which has proven to increase employee engagement by 40 percent.

Unlike traditional medical devices, this platform is personalized and customizable to specific wellness goals, and it is available in 13 languages and over 30 countries. WellteQ is committed to scalability in the global corporate wellness industry with plans for further expansion.

In partnership with reputable digital innovation companies, the WellteQ software app employs intelligent digital pathology that tracks key biomarkers for risk assessment, revolutionary 3D body imaging, neurocognitive assessment and virtual consultation functions. Along with additional gamified challenges, this employee smartphone app creates a unified user experience that is accessible on all mobile devices.

In 2021, the company plans on expanding its continuum of personalized care with the introduction of more premium care focused offerings. WellteQ+ will provide chronic condition management and virtual care functions that track chronic illness progression and treatment and monitor patient-specific data, including vitals.

WellteQ Digital Health's Management Team

Scott Montgomery - CEO/ Director/Co-Founder

Scott has performed at the highest level as an athlete, trainer and as a corporate leader for over 17 years having co-built and sold Onsite Health Solutions in 2012 (one of Australia & New Zealand's largest workplace wellness exits). Prior to Onsite, Scott was a Rehabilitation Case Manager with ACC New Zealand, the compulsory personal injury insurance scheme for all of New Zealand. Scott holds a bachelor's degree from the University of Otago.

Jeames Gillett - COO

Jeames brings 15 years of experience within the corporate wellness, insurance and population health sector. Jeames served as National Operations Manager for Onsite Health Solutions. Jeames also served as the National Service Delivery Manager for Vitality Works, a leading provider of Workplace Health Services across Australia & New Zealand. Jeames holds a Bachelor's degree from Stanford University in Exercise Physiology.

Andrew Kerekes - CPO

Andrew has over 20 years of experience in strategy, product design and delivery, sales and transformation. Andrew has held senior leadership positions within GE Capital, the financial services division of General Electric, LiveRamp and EVO, a privately held analytics platform for member health engagement and risk underwriting. Andrew holds a Bachelor's degree from La Trobe University in Psychology & Philosophy.

Daniel Starbuck - CTO

Daniel has over 15 years of experience building scalable enterprise business applications for domestic and international clients from start-ups to Fortune 500 companies. Daniel co-founded CBDS Health (now merged with WellteQ) in 2017.

Olly Bridge - Chief Growth Officer

Mr. Bridge comes to Wellteq from Medibank, Australia's largest health insurer, where he led the design and deployment of both their corporate and retail policy holder digital health and wellness programs. The Medibank digital health program has been deployed to 3.5 million policy holders. Prior to Medibank, Mr. Bridge led the global sales development for Global Corporate Challenge, which when acquired by Virgin Pulse in 2015, was operating in 185 countries around the world. Virgin Pulse are currently the world's largest corporate wellness provider.

Dr. Peter Vaughan - Chairman

Dr. Peter W. Vaughan is Board Chair of Canada Health Infoway and Chair of the Finance and Audit Committee, Treasurer, and Board member of the Supply Chain Advancement Network for Health (SCAN-H) at the University of Windsor Odette School of Business. Dr. Vaughan is former Deputy Minister of Health and Wellness, Province of Nova Scotia, former CEO of South Shore District Health Authority, former President, WebMD Canada, former CEO of the Canadian Medical Association, and former member the Government of Canada's Health/Bioscience Economic Strategy.

Dr Peter Vaughan, has been appointed to the Order of Canada by the Governor General of Canada. The Governor General cited the appointment of Dr Vaughan "for his contributions to Canada's health care system, and for his pioneering leadership in the establishment and advancement of digital health".

Dr Vaughan, who's career spans medicine, public healthcare, academia and multiple Board and Executive positions is recognized for his tenacious evangelism of healthcare modernization. Dr Vaughan was appointed Chairman of the Board of Directors for Wellteq just prior to the Company's listing on the Canadian Securities Exchange (CSE) in March 2021 and continues to lead the Company's execution to modernize healthcare delivery through the deployment of the Wellteq platform.

Brian Leeners - Co Founder/Director

Brian has been a technology entrepreneur since 1997. In 2007, he founded his first Internet of Things (IoT) company developing sensor and automation solutions for customers including Lowes, Control4, Steelcase and Schneider Electric. Recognizing the opportunity for the IoT in healthcare, Brian co-founded CBDS Health (now merged with WellteQ) in 2017. Brian's boutique venture capital and merchant banking firm has been responsible for +$75 million+ in venture financing.

Jacqueline Yee - Independent Director

Jacqueline has a global track record in mergers and acquisitions and structured finance. She is Managing Director at Macallan Capital, Non Executive Director of Mustang Energy Plc and Treasurer of Kidney Dialysis Foundation in Singapore. Former Financial Working Group Member of the Brain Cancer Foundation in Australia. Previously, signatory Director of BNP Paribas-Fortis United Kingdom and Netherlands and investment banker at Société Générale. Multilingual, a Chartered Accountant in Australia & New Zealand and summa cum laude graduate with Distinction award jointly conferred by the University of Amsterdam Graduate Business School and Graduate Faculty of Economics & Econometrics.

Andrea Johnson - Director

Andrea Johnson is a partner with Dentons Canada LLP and a member of its Canada region board of directors. Her practice focuses on corporate and securities law, with an emphasis on technology and emerging growth companies. Andrea has extensive experience in IPOs, corporate finance, M&A, venture capital and private equity, across sectors including fintech, software, telecommunications and health and life sciences. She has completed the Directors Education Program and is on the Ottawa chapter executive of the Institute for Corporate Directors (ICD). Andrea has received many rankings including from The Best Lawyers in Canada, Lexpert, Acritas, Chambers FinTech and The Legal 500 Canada.

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ROSEN, SKILLED INVESTOR COUNSEL, Encourages AbbVie Inc. Investors With Losses Over $100K to Secure Counsel Before Important Deadline in Securities Class Action - ABBV

WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of ABBVie Inc. (NYSE: ABBV) between April 30, 2021 and August 31, 2021, inclusive (the "Class Period"), of the important June 6, 2022 lead plaintiff deadline .

SO WHAT: If you purchased AbbVie securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

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ROSEN, A LEADING LAW FIRM, Encourages Aurinia Pharmaceuticals Inc. Investors With Losses Exceeding $100K to Secure Counsel Before Important Deadline in Securities Class Action - AUPH

WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Aurinia Pharmaceuticals Inc. (NASDAQ: AUPH) between May 7, 2021 and February 25, 2022, inclusive (the "Class Period"), of the important June 14, 2022 lead plaintiff deadline.

SO WHAT: If you purchased Aurinia securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

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ROSEN, A TOP RANKED FIRM, Encourages AbbVie Inc. Investors With Losses Exceeding $100K to Secure Counsel Before Important Deadline in Securities Class Action - ABBV

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WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of ABBVie Inc. (NYSE: ABBV) between April 30, 2021 and August 31 , 2021, inclusive (the "Class Period"), of the important June 6, 2022 lead plaintiff deadline .

SO WHAT: If you purchased AbbVie securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the AbbVie class action, go to https://rosenlegal.com/submit-form/?case_id=5119 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than June 6, 2022 . A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Many of these firms do not actually handle securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) safety concerns about Xeljanz and Xeljanz XR extended to Rinvoq and other Janus kinase (JAK) inhibitors; (2) as a result, it was likely that the FDA would require additional safety warnings for Rinvoq and would delay the approval of additional treatment indications for Rinvoq; and (3) therefore, defendants' statements about AbbVie's business, operations, and prospects lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the AbbVie class action, go to https://rosenlegal.com/submit-form/?case_id=5119 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm , on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/ .

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com

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SOURCE Rosen Law Firm, P.A.

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ABBV DEADLINE: Kessler Topaz Meltzer & Check, LLP Reminds Investors of AbbVie, Inc. of Deadline in Securities Fraud Class Action Lawsuit and Encourages Investors with Substantial Losses to Contact the Firm

The law firm of Kessler Topaz Meltzer & Check, LLP ( www.ktmc.com ) informs investors that the firm has filed a securities class action lawsuit against ABBVie, Inc. (ABBVie) (NYSE: ABBV) on behalf of all persons and entities who purchased or otherwise acquired ABBVie securities between April 30, 2021 and August 31, 2021 inclusive (the "Class Period").

KTMC Logo (PRNewsfoto/Kessler Topaz Meltzer & Check, LLP)

CLICK HERE TO SUBMIT YOUR ABBVIE LOSSES.  YOU CAN ALSO CLICK ON THE FOLLOWING LINK OR COPY AND PASTE IN YOUR BROWSER: https://www.ktmc.com/new-cases/abbvie-inc?utm_source=PR&utm_medium=link&utm_campaign=abbvie&mktm=r

TO VIEW OUR VIDEO, PLEASE CLICK HERE

TO VIEW OUR COMPLAINT, PLEASE CLICK HERE

LEAD PLAINTIFF DEADLINE: JUNE 6, 2022

CLASS PERIOD: APRIL 30, 2021 through AUGUST 31, 2021

CONTACT AN ATTORNEY TO DISCUSS YOUR RIGHTS :
James Maro, Esq. (484) 270-1453 or Email at info@ktmc.com

Kessler Topaz is one of the world's foremost advocates in protecting the public against corporate fraud and other wrongdoing.  Our securities fraud litigators are regularly recognized as leaders in the field individually and our firm is both feared and respected among the defense bar and the insurance bar. We are proud to have recovered billions of dollars for our clients and the classes of shareholders we represent.

ABBVIE'S ALLEGED MISCONDUCT
AbbVie is one of the world's largest pharmaceutical companies.  The company's revenues will come under significant pressure in the coming years when its best-selling drug, Humira, will lose patent protection in 2023.  Accordingly, AbbVie's future revenue and earnings depend in large part on its ability to develop new sources of revenue to offset Humira's lost sales.  Rinvoq—an anti-inflammatory drug manufactured by AbbVie and used to treat rheumatoid arthritis (RA) and other diseases by inhibiting Janus kinase (JAK) enzymes—was touted as one such drug.  Rinvoq was initially approved in the United States to treat only moderate to severe RA.  However, AbbVie was actively pursuing additional treatment indications and, in 2020, asked the U.S. Food and Drug Administration (FDA) to approve Rinvoq for the treatment of several other diseases.

As is relevant here, Rinvoq is similar to other JAK inhibitor drugs, including Xeljanz, manufactured by Pfizer Inc.  When the FDA approved Xeljanz in 2012 for the treatment of RA, it required an additional safety trial to evaluate Xeljanz's risk of triggering certain serious side effects.  Beginning in February 2019 , the FDA repeatedly warned the public that the safety trial indicated that Xeljanz's use could lead to serious heart-related issue, cancer, and other adverse events.  Notwithstanding the similarities between Rinvoq and Xeljanz, during the Class Period, Defendants assured investors that Rinvoq was far safer than Xeljanz and not subject to the same regulatory risks.

However, investors began to learn the truth about Rinvoq's significant risks on June 25, 2021 , when AbbVie revealed that the FDA was delaying its review of expanded treatment applications for Rinvoq due to the safety concerns associated with Xeljanz.  On this news, the price of AbbVie common stock declined $1.76 per share, or approximately 1.5%, from a close of $114.74 per share on June 24, 2021 , to close at $112.98 per share on June 25, 2021 .

Then, on September 1, 2021 , the FDA announced that final results from the Xeljanz safety trial established an increased risk of serious adverse events, even with low doses of Xeljanz.  As a result, the FDA determined that it would require new and updated warnings for Xeljanz and Rinvoq because Rinvoq "share[s] similar mechanisms of action with Xeljanz" and "may have similar risks as seen in the Xeljanz safety trial."  The FDA also indicated that it would further limit approved indications for Rinvoq as a result of these safety concerns. On this news, the price of AbbVie common stock declined $8.51 per share, or more than 7%, from a close of $120.78 per share on August 31, 2021 , to close at $112.27 per share on September 1, 2021 .

After the Class Period, on December 3, 2021 , AbbVie announced that the FDA had updated Rinvoq's label to require additional safety warnings and limit marketing of Rinvoq to only its use after treatment with other drugs has failed.  On January 11, 2022 , Defendants admitted that these changes to Rinvoq's label would negatively impact sales, forcing the Company to reduce its long-term guidance for Rinvoq's sales in 2025.

The complaint alleges that, throughout the Class Period, the Defendants made materially false and/or misleading statements, about the company's business and operations.  Specifically, Defendants misrepresented and/or failed to disclose that: (1) safety concerns about Xeljanz extended to Rinvoq and other JAK inhibitors; (2) as a result, it was likely that the FDA would require additional safety warnings for Rinvoq and would delay the approval of additional treatment indications for Rinvoq; and (3) therefore, Defendants' statements about the company's business, operations, and prospects lacked a reasonable basis, As a result of the Defendants' wrongful acts and omissions, and the significant decline in the market value of AbbVie's securities, AbbVie investors have suffered significant damages.

WHAT CAN I DO?
AbbVie investors may, no later than June 6, 2022 , seek to be appointed as a lead plaintiff representative of the class through Kessler Topaz Meltzer & Check, LLP or other counsel, or may choose to do nothing and remain an absent class member. Kessler Topaz Meltzer & Check, LLP encourages AbbVie investors who have suffered significant losses to contact the firm directly to acquire more information.

CLICK HERE TO SIGN UP FOR THE CASE

WHO CAN BE A LEAD PLAINTIFF?
A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation.  The lead plaintiff is usually the investor or small group of investors who have the largest financial interest and who are also adequate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and these attorneys, if approved by the court, are lead or class counsel. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff.

ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP
Kessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts throughout the country and around the world.  The firm has developed a global reputation for excellence and has recovered billions of dollars for victims of fraud and other corporate misconduct. All of our work is driven by a common goal: to protect investors, consumers, employees and others from fraud, abuse, misconduct and negligence by businesses and fiduciaries.  For more information about Kessler Topaz Meltzer & Check, LLP please visit www.ktmc.com .

CONTACT:
Kessler Topaz Meltzer & Check, LLP
James Maro, Jr., Esq.
280 King of Prussia Road
Radnor, PA 19087
(484) 270-1453
info@ktmc.com

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SOURCE Kessler Topaz Meltzer & Check, LLP

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Bragar Eagel & Squire, P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against Aurinia, Stronghold, Lilium, and Li-Cycle and Encourages Investors to Contact the Firm

Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that class actions have been commenced on behalf of stockholders of Aurinia Pharmaceuticals, Inc. (NASDAQ: AUPH), Stronghold Digital Mining, Inc. (NASDAQ: SDIG), Lilium N.V. (NASDAQ: LILM), and Li-Cycle Holdings Corp. (NYSE: LICY). Stockholders have until the deadlines below to petition the court to serve as lead plaintiff. Additional information about each case can be found at the link provided.

Aurinia Pharmaceuticals, Inc. (NASDAQ: AUPH)

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Bragar Eagel & Squire, P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against Aurinia, Stronghold, Lilium, and Li-Cycle and Encourages Investors to Contact the Firm

Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that class actions have been commenced on behalf of stockholders of Aurinia Pharmaceuticals, Inc. (NASDAQ: AUPH), Stronghold Digital Mining, Inc. (NASDAQ: SDIG), Lilium N.V. (NASDAQ: LILM), and Li-Cycle Holdings Corp. (NYSE: LICY). Stockholders have until the deadlines below to petition the court to serve as lead plaintiff. Additional information about each case can be found at the link provided.

Aurinia Pharmaceuticals, Inc. (NASDAQ: AUPH)

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