AbbVie said it recently received regulatory approvals for its psoriasis treatment Skyrizi. "We are off to another excellent start, including first quarter sales and earnings above expectations," Richard Gonzalez, chairman and CEO, said in a statement. "Additionally, we have made tremendous progress advancing our pipeline, including the recent approval of Skyrizi, which has the potential to set a new standard of care in psoriasis and represents a significant long-term opportunity for AbbVie. We are extremely pleased with our strong performance and based on the continued business momentum, are increasing our full-year EPS guidance." Reuters noted that the failure of cancer drug Rova-T, once seen as a strong contender for a new blockbuster, and setbacks to the testing of multiple myeloma drug Venclexta have pressured AbbVie shares, which are down nearly 14% over the past 12 months.