AbbVie-Roche Win European Approval for Venclyxto in Newly Diagnosed Acute Myeloid Leukemia

The European Commission has approved AbbVie Inc's ABBV Venclyxto (venetoclax) for the treatment of adult patients with newly diagnosed acute myeloid leukemia (AML).
Venclyxto is approved in combination with a hypomethylating agent, azacitidine or decitabine, in AML patients ineligible for intensive chemotherapy.
It is the third extension of indications for Venclyxto, a first-in-class B-cell lymphoma-2 (BCL-2) inhibitor. BCL-2 is a protein that prevents cancer cells from undergoing apoptosis, the process that leads to the natural death or self-destruction of cancer cells.
Venclyxto is being developed by AbbVie and Roche Holdings AG RHHBY.
Price Action: RHHBY stock is up 1.2% at 4$43.67, while ABBV shares are down 0.8% at $114.96 during the market session on the last check Tuesday.