3 Reasons to Buy AbbVie Stock on the Dip [Yahoo! Finance]
Abbott Laboratories (ABT)
Last abbott laboratories earnings: 4/16 07:30 am
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Source: Yahoo! Finance
Though this was a long time coming, the market reacted as though it was unexpected: AbbVie's shares dropped once the magnitude of Humira's sales decline became clear, during the drugmaker's first-quarter 2023 earnings release. AbbVie hasn't done much better since. However, the drugmaker is showing great signs of being able to handle this headwind and deliver excellent results for a while afterward. Let's consider three such signs. 1. The top-line drop hasn't been that steep Let's put things in context. Humira wasn't just AbbVie's top product, generating peak sales of $21.2 billion. It was the best-selling medicine in the biopharma industry's history, one in which many drugs never cross the "$1 billion in annual sales" mark. Furthermore, Humira accounted for a hefty percentage of AbbVie's sales. In 2022, the last year before it lost patent exclusivity in the U.S., Humira made up just under 37% of AbbVie's total revenue. Given these factors, we might expect AbbVie's sales to dro
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ABT
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- 4/17/24 - Beat
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- 5/10/24 - Form 144
- 5/8/24 - Form 4
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