Abbvie Inc. (ABBV), a major player in the bio-tech market, has been heavily sought after by investors and has recently continued to diversify its portfolio. AbbVie established collaborations with Gilgamesh Pharmaceuticals and Tentarix to develop next-generation drugs and biologics for oncology. AbbVie also boosted its neuropsychiatric portfolio through its new deal. TD Cowen restated a 'buy' rating on ABBV based on its future prospects. The company successfully outpaced other medical stocks with significant stock market gains and beat Q1 2024 earnings and revenue estimates. The growth was driven by its newest drugs helping offset the loss from its top-selling drug Humira, which is experiencing a sales slump. Despite the challenges, ABBV continues to innovate, acquiring Landos Biopharma and a PD treatment maker, strengthening its holdings in inflammatory and autoimmune diseases. The company has also seen some regulatory speedbumps with the FDA delaying the sNDA decision for their dermatitis treatment Rinvoq. ABBV also received European approval for its DLBCL treatment Epcoritamab, and aims to further its progressive trajectory.
Abbvie ABBV News Analytics from Thu, 30 Nov 2023 08:00:00 GMT to Wed, 15 May 2024 12:33:38 GMT -
Rating 6
- Innovation 6
- Information 7
- Rumor -3
