|Bid||68.25 x 1400|
|Ask||68.59 x 1800|
|Day's Range||68.10 - 68.82|
|52 Week Range||65.06 - 100.23|
|Beta (3Y Monthly)||0.77|
|PE Ratio (TTM)||19.52|
|Earnings Date||Jul 26, 2019|
|Forward Dividend & Yield||4.28 (6.27%)|
|1y Target Est||84.92|
Congress will be voting Wednesday on a repeal of what is known as the “Cadillac Tax," which is a provision of the Affordable Care Act that would place a 40% tax on employer-sponsored health care plans that provide excess benefits. Yahoo Finance's Anjalee Khemlani breaks down what the provision does and what could come from the vote.
These are the clinical trial readouts, FDA decisions, and blockbuster-drug launches that will set the tone for the entire industry.
AbbVie (ABBV) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
J&J (JNJ) and Novartis (NVS) set the earnings season in motion for the pharma space. FDA approves Merck's (MRK) new combination antibacterial injection, Recarbrio.
(Bloomberg Opinion) -- Slimming down appears to be paying off for Novartis AG. CEO Vas Narasimhan has refocused the Swiss pharma giant around drugs by selling off eye-care business Alcon and its remaining consumer-health interests. Second-quarter earnings that beat Wall Street expectations Thursday and a big guidance boost showed the benefits of the strategy. Shares hit an all-time high in early trading even though the stock was already up over 20% year to date to that point and trades at a premium to peers. Novartis is benefiting from greater exposure to its drug business, which has more potential than the units it ditched. Simpler businesses are easier to understand and value, so it makes sense that the market has responded well to these moves. At this price, though, the strategy inherently exposes investors to more downside and volatility. The reason some drugmakers diversify is to add steadier revenue so they can better weather the booms, busts, and worrying product concentration that come with developing novel medicines. Novartis has a robust set of newer drugs, which is likely why it felt confident enough to get rid of other units. It has supplemented its arsenal further with a series of acquisitions as it continues its strategy by slimming down generic unit Sandoz.Psoriasis drug Cosentyx and heart medicine Entresto are the two drugs most key to the company’s near-term success. They helped drive the pharma unit’s 9 percent sales growth in the second quarter relative to the same period last year. There are high expectations for continuing growth, but they come with significant risks.A new rival from AbbVie Inc. recently entered the already crowded market Cosentyx competes in, and others are on the way. While Entresto has turned from a slow starter to a growing success story, a big chunk of its potential depends on expanding to new markets. Results are due from a late-stage trial in a new indication in the next few months. Positive indications will help justify the company’s current valuation. A failure could bring current momentum for the drug and Novartis’s more exposed stock screeching to a halt. Also, growth may not look as robust when sales begin to decline for two other blockbusters – cancer drug Afinitor and multiple sclerosis medicine Gilenya – in the next few years. That puts weight on the company’s most recent launches and pipeline. Those new products may be able to bear it; the company had a breast cancer drug, an MS medicine, and a groundbreaking gene therapy approved in the first half of the year. Late-stage data is due in the near term for potential blockbuster asthma and eye drugs as well as another MS drug. Still, weak launches or disappointing data could erode confidence in the company’s growth trajectory. Novartis executed its transition to a pure pharma firm well. There’s still a chance that the rapturous investor response is in part a sugar high. To contact the author of this story: Max Nisen at email@example.comTo contact the editor responsible for this story: Beth Williams at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Max Nisen is a Bloomberg Opinion columnist covering biotech, pharma and health care. He previously wrote about management and corporate strategy for Quartz and Business Insider.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
AC Immune (ACIU) initiates phase I study of ACI-3024, a Tau Morphomer inhibitor, for the treatment of neurodegenerative diseases like Alzheimer's disease.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
AbbVie (ABBV) has been upgraded to a Zacks Rank 2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.
J&J (JNJ) beats estimates for both earnings and sales in the second quarter of 2019 and raises 2019 guidance for operational sales growth for the second time this year.
Bernstein analyst Ronny Gal says the spread between the current stock price and AbbVie’s offer is fair and it is time to take the foot off the gas.
AbbVie (NYSE: ABBV ) said Monday it acquired Seattle-based biopharmaceutical company Mavupharma for an undisclosed amount. Mavupharma is focused on approaches to target the STING (STimulator of INterferon ...
NORTH CHICAGO, Ill., July 15, 2019 /PRNewswire/ -- AbbVie (ABBV) announced today that it has acquired Seattle-based Mavupharma, a privately held biopharmaceutical company focused on novel approaches to target the STING (STimulator of INterferon Genes) pathway for the treatment of cancer. STING pathway signaling plays an important role in the generation of an immune response directed at tumors, and enhancing STING signaling has shown promise in a variety of tumor models. STING pathway stimulation has the potential to increase the susceptibility of tumors and broaden treatment options for patients.
The FDA accepts Neurocrine's (NBIX) NDA for opicapone, developed as an adjunctive treatment to levodopa/carbidopa for patients with Parkinson's disease, who currently experience OFF episodes.
NORTH CHICAGO, Ill. , July 11, 2019 /PRNewswire/ -- AbbVie (NYSE: ABBV), a research-based global biopharmaceutical company, will announce its second-quarter 2019 financial results on Friday, July 26 before ...
J&J's (JNJ) cancer drugs should continue to perform well in second-quarter 2019. Generic/biosimilar headwinds will hurt Pharma unit's sales.