AbbVie Down 3% in a Month: Why Holding the Stock Still Makes Sense
View original at finance.yahoo.comAbbVie Down 3% in a Month: Why Holding the Stock Still Makes Sense AbbVie ABBV stock has declined 3.2% in a month. Shares of this large drugmaker dipped recently after it denied takeover talks with Redwood City, CA-based cancer biotech, Revolution Medicines RVMD…
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AbbVie expects to outperform its target of combined sales of Skyrizi and Rinvoq of more than $25 billion in 2025
80% confidenceAbbVie had expected to return to mid-single-digit revenue growth in 2025 with a high single-digit CAGR through 2029
80% confidenceThere is no need to panic and sell the stock despite the slight slip over the past month
80% confidenceAbbVie denied takeover talks with Revolution Medicines
80% confidenceAbbVie has executed more than 30 M&A transactions since the beginning of 2024
80% confidenceSkyrizi sales are now annualizing at almost $18 billion
80% confidenceAbbVie was in advanced talks to acquire Revolution Medicines in a deal that could value Revolution Medicines at around $20 billion or more
80% confidenceMerck was in talks to acquire Revolution Medicines in a transaction that could value RVMD for up to $32 billion, though MRK and RVMD have not yet finalized the deal and a potential deal remains several weeks away
80% confidenceRinvoq's patent exclusivity extended to 2037 after settling patent litigation with all generic manufacturers
80% confidenceA decent valuation, expectations for continued strong earnings growth, and a robust pipeline are good enough reasons to stay invested in this Zacks Rank #3 (Hold) stock
80% confidenceRinvoq sales are now annualizing at more than $8 billion
80% confidenceAbbVie expects category growth for aesthetics to be below previous expectations
80% confidenceAbbVie has no significant LOE events for the rest of this decade
80% confidenceAbbVie lowered its expectation for its Aesthetics business from $5.1 billion to $4.9 billion due to greater-than-expected market softness globally
80% confidenceCombined sales of Skyrizi and Rinvoq expected to reach more than $31 billion by 2027
80% confidence