In recent news, biopharmaceutical giant AbbVie (ABBV) has been highly active in the market. The company has made strategic acquisitions including the purchase of Parkinson's Disease treatment maker and Landos Biopharma to bolster its portfolio in inflammatory and autoimmune diseases. Despite concerns over the slump in Humira sales, AbbVie raised its 2024 forecast fueled by the performance of its new drugs replacing the Humira losses. Furthermore, the company has outpaced the stock market gains and hit a 52-week high. AbbVie also exceeded Q1 and Q2 earnings estimates displaying resilience despite revenue challenges. A potential challenge has arisen as CVS Caremark has decided not to cover Humira which may impact the sales of AbbVie's key drug. On the positive side, the company's dividend aristocrat status is alluring to investors. Additionally, AbbVie has announced collaboration with Tentarix to develop multi-specific biologics for oncology. There has been investor interest due to these advancements and the company's adjusted EPS topping estimates despite revenue challenges.
Abbvie ABBV News Analytics from Mon, 23 Oct 2023 07:00:00 GMT to Thu, 09 May 2024 23:16:33 GMT -
Rating 6
- Innovation 5
- Information 7
- Rumor -1
