AbbVie (ABBV) has been performing significantly in the market, outpacing other medical stocks even with the continued slump in the sales of its flagship drug,
Humira. In a strategic move on boosting its portfolio, they acquired
Landos Biopharma to widen their influence in the area of inflammatory and autoimmune diseases. In addition, they have also purchased a
Parkinson's Disease treatment maker, indicating their expanding portfolio. Their Q1 2024 earnings showed that they were able to exceed market expectations despite revenue challenges. The firm also hiked its 2024 earnings guidance and attracted investor attention. Despite the promising financial performance, they encountered a few setbacks. Their drug
Rinvoq Dermatitis' sNDA decision was delayed by the FDA and they observed a significant dip more than its peers in the market, citing Humira's increased competition. Furthermore, the earnings report was expected to decline that led to AbbVie's stock stumbling despite beating earnings. Moving forward, a key to watch is their deal to develop a COVID antiviral treatment and its potential impact on its financial performance.
Abbvie ABBV News Analytics from Fri, 27 Oct 2023 07:00:00 GMT to Sun, 12 May 2024 07:38:47 GMT -
Rating 5
- Innovation 5
- Information 8
- Rumor -5
