AbbVie's Stock Is Incredibly Cheap [The Motley Fool]
CELGENE (CELG)
Last celgene earnings: 10/31 07:30 am
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Source: The Motley Fool
AbbVie's downward spiral is unwarranted. Here's why. At around 10-times forward-looking earnings, AbbVie ( NYSE:ABBV ) sports one of the cheapest valuations among either big pharma or Dividend Aristocrat stocks right now. In fact, Celgene Corporation and Teva Pharmaceutical Industries Ltd. are the only large-cap drug manufacturers trading at lower multiples than AbbVie. What's behind this rock bottom valuation? Wall Street is dismayed by the company's inability to diversify its revenue stream ahead of Humira's date with the patent cliff. Humira is set to face biosimilar competition in Europe later this year and in the United Stated in mid-2023. The core problem is that this single drug still makes up over 60% of AbbVie's annual revenues. Despite this looming competitive threat, I think AbbVie is actually an incredible long-term buy at these levels. Image source: Getty Images. Help is on the way When AbbVie was originally carved out as a stand-alone
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