Today’s Research Reports on Stocks to Watch: AbbVie Inc. and Pfizer Inc.
NEW YORK, NY / ACCESSWIRE / January 29, 2018 / Shares of AbbVie soared higher on Friday after reporting strong fourth quarter results and full year results. The company also gave a bright outlook for 2018. Shares of Pfizer closed higher as well after a European Medicines Agency recommended marketing approval for a diabetes Type II drug called Steglatro that Pfizer and Merck & Co. have developed.
RDI Initiates Coverage on:
AbbVie Inc.
https://rdinvesting.com/news/?ticker=ABBV
Pfizer Inc.
https://rdinvesting.com/news/?ticker=PFE
AbbVie Inc. shares closed up 13.77% on about 19.6 million shares traded on Friday. The stock also hit a new high of $125.86 during intra-day trading after posting fourth quarter results that were better than what analysts had expected. The company also gave an optimistic forecast for the full year. The drug maker reported sales increase of 12.6% to $7.74 billion, excluding one-time items. Full year revenue was $28.2 billion, excluding one-time items, and was 10.1% higher than the year before. Adjusted EPS for the quarter was $1.48 a share, which was a 23.3% growth YOY. For the full year EPS was $5.60, an almost 14% growth from the year before. For 2018, the company has forecast revenue of $32 billion and adjusted EPS of $7.33 to $7.43. Previously the company had forecast EPS of $6.37 to $6.57. It was also last week that a federal trial jury in Chicago found that the company is not liable in a lawsuit by an Arizona man who claimed he had suffered a pulmonary embolism due to using the AbbVie's testosterone replacement medication AndroGel. Attorney for the plaintiffs, Christopher Seeger remarked, "Our trial team did an excellent job with a very complicated case. We look forward to the next trial and holding AbbVie accountable for putting profits before safety." The company's gel has become the subject of lawsuits by thousands of people.
Access RDI's AbbVie Inc. Research Report at:
https://rdinvesting.com/news/?ticker=ABBV
Pfizer Inc. shares closed up nearly 5% on Friday with shares hitting a brand new high of $39.09 during intra-day trading. Trading volume was nearly three times higher than usual after a European Medicines Agency (EMA) panel recommended granting marketing approval to a diabetes Type II drug developed by the company and Merck & Co. The EMA's Committee for Medicinal Products for Human Use (CHMP) has recommended that the product can be a shot in the arm for drug companies as they are normally endorsed by the European Commission. To be sold under the brand name Steglatro, the oral treatment belongs to a class of drugs known as SGLT2 inhibitors, which help patients expel excess glucose through urine. It was last month that the companies gained approval from the U.S. Food and Drug Administration for the drug as a single therapy and in fixed-dose combinations with Merck's diabetes drug Januvia or with metformin. Metformin is the first-line medication for the treatment of type 2 diabetes and is typically given to newly diagnosed patients.
Access RDI's Pfizer Inc. Research Report at:
https://rdinvesting.com/news/?ticker=PFE
Our Actionable Research on AbbVie Inc. (NYSE: ABBV) and Pfizer Inc. (NYSE: PFE) can be downloaded free of charge at Research Driven Investing.
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