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The tests announced this week will be more rigorous, modelling a sharp rise in bond yields and a 2.1% fall in economic output over three years, compared with a 0.4% drop over two years in the 2011 tests. Some countries, Britain among them, will add still gloomier scenarios to this, such as a deep fall in house prices. Holdings of sovereign bonds will also be treated less kindly than in previous tests, which maintained a fiction that almost all of them were worth what banks had paid for them. All this will come on top of a thorough exploration of the mustier corners of the vaults of banks in the euro area, in the form of the asset quality review (AQR) to be carried out this year by the European Central Bank.

The main reason to expect that this year s stress tests will be different, however, is that they are rowing with the tide rather than against it. Huw van Steenis, an analyst at Morgan Stanley, points out that European banks are writing off bad debts and raising some 35 billion ($49 billion) in capital in order to pre empt the results, which are due in October, along with those of the AQR. That should help to make the process genuinely cathartic this time, he thinks. If only it had happened years ago.

Abbvie submits for eu marketing authorization its investigational, all-oral, interferon-free therapy for the treatment of chronic hepatitis c – kltv.com-tyler, longview, jacksonville, texas

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Submission based on the largest Phase III program in genotype 1 (GT1) hepatitis C patients conducted to date1

European Medicines Agency has granted AbbVie&#39 s request for accelerated assessment

NORTH CHICAGO, Ill., May 8, 2014 /PRNewswire/ AbbVie (NYSE ABBV) submitted marketing authorization applications (MAAs) to the European Medicines Agency (EMA) seeking approval for the company&#39 s investigational, all oral, interferon free regimen for the treatment of adult patients with chronic genotype 1 (GT1) hepatitis C virus (HCV) infection. The MAAs are supported by data from the largest all oral, interferon free clinical program in GT1 patients conducted to date1, which consists of six Phase III studies that include more than 2,300 patients in over 25 countries.

“These regulatory submissions bring us closer to offering adult genotype 1 chronic hepatitis C patients an all oral, interferon free regimen which has the potential to provide a promising advancement for the hepatitis C community in the European Union,” said Scott Brun, M.D., vice president, Pharmaceutical Development, AbbVie. “This regulatory milestone, on the heels of our submission of a New Drug Application in the U.S., represents an important step for our pipeline.”

Accelerated Assessment Granted
The EMA has granted AbbVie&#39 s request for accelerated assessment for ABT 450/ritonavir, ombitasvir (ABT 267), and dasabuvir (ABT 333), a designation that is granted to new medicines of major public health interest. Review of AbbVie&#39 s MAAs will be conducted under the centralized licensing procedure which, when finalized, provides one marketing authorization in all 28 member states of the European Union (EU). Although accelerated assessment could shorten the EMA&#39 s review time by approximately two months, it does not guarantee a positive opinion from the EMA&#39 s Committee for Medicinal Products for Human Use (CHMP) or final approval by the European Commission. If approved, ABT 450/ritonavir, ombitasvir (ABT 267), and dasabuvir (ABT 333) could be available for marketing in the EU in the first quarter of 2015.

Globally, approximately 160 million people are chronically infected with hepatitis C2 and an estimated 3 million to 4 million people are newly infected each year.3 In Europe, approximately 17.5 million people have chronic hepatitis C,4 with GT1 as the predominant genotype.4

About AbbVie&#39 s Investigational HCV Regimen
The AbbVie investigational regimen consists of the fixed dose combination of ABT 450/ritonavir (150/100mg) co formulated with ombitasvir (ABT 267) 25mg, dosed once daily, and dasabuvir (ABT 333) 250mg with or without ribavirin (weight based), dosed twice daily. The combination of three different mechanisms of action interrupts the hepatitis C virus replication process with the goal of optimizing sustained virologic response rates across different patient populations.

Additional information about AbbVie&#39 s Phase III studies can be found on

AbbVie&#39 s HCV Development Program
The AbbVie HCV clinical development program is intended to advance scientific knowledge and clinical care by investigating an interferon free, all oral regimen with and without ribavirin with the goal of producing high sustained virologic response rates in as many patients as possible, including those that typically do not respond well to treatment, such as previous non responders to interferon based therapy or patients with advanced liver fibrosis or cirrhosis.

ABT 450 was discovered during the ongoing collaboration between AbbVie and Enanta Pharmaceuticals (NASDAQ ENTA) for hepatitis C virus protease inhibitors and regimens that include protease inhibitors. ABT 450 is being developed by AbbVie for use in combination with AbbVie&#39 s other investigational medicines for the treatment of hepatitis C.

About AbbVie
AbbVie is a global, research based biopharmaceutical company formed in 2013 following separation from Abbott Laboratories. The company&#39 s mission is to use its expertise, dedicated people and unique approach to innovation to develop and market advanced therapies that address some of the world&#39 s most complex and serious diseases. AbbVie employs approximately 25,000 people worldwide and markets medicines in more than 170 countries. For further information on the company and its people, portfolio and commitments, please visit Follow abbvie on Twitter or view careers on our Facebook or LinkedIn page.

Forward Looking Statements
Some statements in this news release may be forward looking statements for purposes of the Private Securities Litigation Reform Act of 1995. The words “believe,” “expect,” “anticipate,” “project” and similar expressions, among others, generally identify forward looking statements. AbbVie cautions that these forward looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those indicated in the forward looking statements. Such risks and uncertainties include, but are not limited to, challenges to intellectual property, competition from other products, difficulties inherent in the research and development process, adverse litigation or government action, and changes to laws and regulations applicable to our industry.

Additional information about the economic, competitive, governmental, technological and other factors that may affect AbbVie&#39 s operations is set forth in Item 1A, “Risk Factors,” in AbbVie&#39 s 2013 Annual Report on Form 10 K, which has been filed with the Securities and Exchange Commission.

AbbVie undertakes no obligation to release publicly any revisions to forward looking statements as a result of subsequent events or developments, except as required by law.

1 Comparison based on review of data from for phase 3a programs of Gilead, BMS and BI as of November 15, 2013.
2 Lavanchy D. Evolving epidemiology of hepatitis C virus. Clin Microbiol Infect. 2011 17(2) 107 15.
3 World Gastroenterology Organisation. World Gastroenterology Organisation Global Guidelines Diagnosis, Management and Prevention of Hepatitis C. April 2013. Accessed April 25, 2014.
4 EASL Clinical Practice Guidelines management of hepatitis C virus infection. European Association for the Study of the Liver. J Hepatol. 2014 60 392 420.

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