|Bid||0.00 x 800|
|Ask||0.00 x 900|
|Day's Range||87.76 - 93.28|
|52 Week Range||69.38 - 125.86|
|PE Ratio (TTM)||22.62|
|Earnings Date||Jul 27, 2018|
|Forward Dividend & Yield||3.84 (3.96%)|
|1y Target Est||113.05|
Citron tweeted Thursday that AbbVie was “the next great drug short” and that its 12-month price target was $60. The drug is protected by a robust wall of patents that several companies have failed to batter down.
Devised as the research arm of Abbott and based in Chicago, AbbVie became a major pharmaceutical company in its own right in 2013. The diminished Abbott now retains the non-research interests – everything from baby formula to sports nutrition to heart stents. As for AbbVie and its separation from its progenitor, management claimed that the move gave investors a chance to objectively value two businesses that were heading in disparate directions.
The drug maker's shares are tumbling on two factors: First is the Department of Health and Human Services's proposal for the Office of Management and Budget to advance with the process of revising regulations that have allowed pharmaceutical companies to offer insurers and pharmacy-benefit managers rebates. Evercore ISI's Joshua Schimmer isn't overly worried yet.
In a speech on Wednesday, U.S. Food and Drug Administration commissioner Scott Gottlieb ripped drug makers for blocking competitors from bringing potentially cheaper biosimilar drugs to the market. On ...
CORAL GABLES, FL / ACCESSWIRE / July, 19 2018 / President Trump continues to put down the pharmaceutical industry on a regular basis, despite this biotech stocks are doing well over the last year. Since ...
AbbVie Inc. (ABBV) shares dropped 5.5% in heavy Thursday morning trade after short seller Citron Research described the company as "the next great drug short" in a tweet and said it planned to release reports about the company. The Citron tweet came the day after Food and Drug Administration Commissioner Scott Gottlieb put out a plan to encourage the development and uptake of lower-priced biosimilar drugs, accusing large drugmakers in a speech of stymying the competition. The short seller also predicted that AbbVie shares, which closed at $94.40 on Wednesday, would drop to $60.
On the Q2 call, investor focus will be on the impact of Roche's newly launched drug, Ocrevus on Biogen's (BIIB) MS franchise and Spinraza's performance
American Express Company (NYSE:AXP) was arguably the day’s biggest story, with shares up 1.8% headed into its post-close earnings report, though fell 2.7% after hours when revenue fell short of estimates. International Business Machines (NYSE:IBM) took a different path. To that end, Coca-Cola (NYSE:KO), AbbVie (NYSE:ABBV) and McDonald’s (NYSE:MCD) are lining up as Thursday’s top prospects.
Bring on healthcare earnings season. Ahead of earnings season for the group, we have selected three healthcare stocks beating the market in 2018. Using TipRanks' Stock Screener tool, we quickly discovered the best-rated stocks, filtering by "best analyst consensus" stocks in the healthcare sector.
Efforts by drugmakers to thwart less-expensive rivals for pricey biologic medicines cost the U.S. health-care system billions of dollars last year, the Food and Drug Administration’s chief said in laying out a plan to end such practices. It plans to work with the Federal Trade Commission to stop “gaming tactics” like piling up patents to extend the commercial dominance of brand-name medicines, FDA Commissioner Scott Gottlieb said in a speech on Wednesday in Washington. Gottlieb said he also wants Congress’s help to close any loopholes that enable drugmakers to hinder competition from so-called biosimilars.
AbbVie Inc said on Tuesday it signed a U.S. licensing deal with Mylan NV for its proposed biosimilar to AbbVie's blockbuster drug Humira, in a move that will give it more near-term control over the competition. The deal is in line with AbbVie's strategy to fend off rivals of the world's best-selling prescription drug until 2023, giving the company more time to bolster its pipeline with new cash cows to offset the expected sales decline. Humira, which treats rheumatoid arthritis, raked in $18.43 billion in sales last year and accounted for nearly two-thirds of AbbVie's net revenue.
NORTH CHICAGO, Ill., July 17, 2018 /PRNewswire/ -- AbbVie (ABBV) announced today patent license agreements with Mylan over its proposed biosimilar adalimumab product. Under the terms of the agreements, AbbVie will grant Mylan a non-exclusive license on specified dates to AbbVie's intellectual property relating to HUMIRA in the United States and in various other countries around the world in which AbbVie has intellectual property, excluding Europe.
Calico is a life sciences company focused on aging research and therapeutics. Together, AbbVie and Calico have produced more than two dozen early-stage programs for disease states across oncology and neuroscience since 2014. The agreement has extended the AbbVie-Calico collaboration for three years.
On July 12, AbbVie (ABBV) announced that it had submitted an sNDA (supplemental new drug application) to the FDA for venetoclax for treating newly diagnosed AML (acute myeloid leukemia) patients not eligible for intensive chemotherapy. AML is an aggressive form of cancer with very low rates of survival and few available options for patients who are ineligible for intensive chemotherapy. The FDA has granted the drug two breakthrough therapy designations for AML.
News of positive clinical data for its Alzheimer’s study lifted the entire biotechnology sector. Oddly enough, markets largely ignored pharmaceutical stocks, choosing instead to invest in the riskier biotech sector. The following are Big Pharma stocks that should be on the radar of most investors.
Pfizer (PFE) is re-organizing its business into three new units, effective 2019. A St Louis jury orders J&J (JNJ) to pay $4.69 billion in a lawsuit related to its talc-based products.
Stagnant deal activity has investors "losing patience with the large cap pharma sector," according to a note from Goldman Sachs analyst Jami Rubin. Small- and mid-cap biotech companies are being valued at all time highs, and companies are staying away from new acquisitions for fear of paying high premiums for them, Rubin wrote. "Pharma management teams are facing investor pressure to put their capital to work, but balancing the risk of overpaying with the risk of doing nothing has led to low levels of deal activity thus far this year in our view," Rubin said.
AbbVie's (ABBV) Imbruvica fails to meet the primary endpoint in a phase III study evaluating the drug in patients with DLBCL, a rare blood cancer, who have received no prior treatment.
It's still really early for research from the collaboration between AbbVie and Alphabet's Calico, but the payoff could be huge.