The recent FDA conclusion about the heart-related risks associated with arthritis drugs nearly gave a heart attack to investors. Shares of pharma giants AbbVie (ABBV), Pfizer (PFE), and Eli Lilly (LLY), which sell Janus kinase (JAK) inhibiting drugs, tanked after the announcement. The FDA said that all approved arthritis medications involving these drugs are found to increase the chances of severe heart-related events, cancer, clotting and other complications leading to death. Henceforth, all JAK-inhibiting drugs like AbbVie’s Rinvoq, Pfizer’s Xeljanz, and Lilly’s Olumiant, have been ordered to include a warning label on the medicine containers in order to be sold in the U.S.
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AbbVie (NYSE:ABBV)
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