AbbVie (NASDAQ:ABBV) is basically a one-trick pony. The trick is an immunosuppressant called Humira, prescribed to fight rheumatoid arthritis and other conditions. It’s the best-selling drug in the world, bringing in $18.4 billion in 2017, but that might not be sufficient to support the future of AbbVie stock. While protected against direct competition in the U.S. until 2023, Humira is already facing biosimilars in Europe, as its protections there disappear.
For now, the good times roll on. AbbVie is due to report earnings Jan. 25, expecting sales of $8.36 billion for a 2018 total of $32.8 billion , 16% ahead of 2017’s $28.2 billion. Net income of $1.92 per share will bring that total to $6.92 per share for the year. But, as they say of both athletes and great beauties, Father Time is undefeated. AbbVie still faces a patent cliff, and growing opposition to rising prices. Nothing lasts forever. What works this year may not work next year. Know that before you buy AbbVie stock.
Source: InvestorPlace
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As Patent Expirations Loom, the Clock Is Ticking on AbbVie Stock
Posted by D4L | Friday, January 25, 2019 | ArticleLinks | 0 comments »________________________________________________________________
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