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AbbVie stock ticks higher as Humira patent dispute with Novartis resolved

Wallace Witkowski

AbbVie Inc. shares ticked higher in the extended session Thursday after the drug maker said it had settled patent disputes with Novartis AG unit Sandoz involving a popular arthritis treatment. AbbVie shares rose 2.4% after hours, following a 2.6% decline to close at $90.70 Thursday. Under an agreement, Sandoz will pay AbbVie royalties of an undisclosed amount for a non-exclusive license of patents for AbbVie's drug Humira, the companies said. Sandoz markets a biosimilar product called Hyrimoz. The license for sale in most European countries will be Oct. 16, while the license for U.S. sales will not start until Sept. 30, 2023.