Benzinga | May 25, 2021 11:28AM EDT

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

* The European Commission has approved AbbVie Inc's (NYSE: 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 (OTC: 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.