AbbVie (ABBV) has demonstrated strong Q2 earnings, significantly exceeding expectations mainly due to elevated immunology sales. This has led to an upwards revision of the FY24 EPS view. Wall Street analysts are increasingly confident in ABBV's potential for long-term growth, particularly given its diverse portfolio. Further growth is expected as the sales of new drugs are set to offset the decline in Humira. This has led to a surge in ABBV stock. Despite the discontinuation of its mid-stage Alzheimer's drug, ABBV continues to expand and innovate in other areas, such as its recent licenses agreement with FutureGen for the development of therapy for inflammatory bowel disease and with Gilgamesh Pharmaceuticals for cutting-edge therapies for psychiatric disorders. They have we also completed the acquisition of Landos Biopharma. However, ABBV did witness a dip as its arthritis drug went off patent, and its Duopa successor in Parkinson's was rejected by FDA due to third-party manufacturer issues. Despite these setbacks, ABBV is making serious strides in oncology with the start of a Phase 3 Clinical Trial for a multiple myeloma drug.
Abbvie ABBV News Analytics from Thu, 25 Jan 2024 08:00:00 GMT to Sun, 28 Jul 2024 16:50:58 GMT - Rating 7 - Innovation 4 - Information 8 - Rumor -2
