ABBV - AbbVie: Game Changer

2024-02-06 16:05:44 ET

Summary

• AbbVie Inc. is showing signs of growth beyond the loss of exclusivity for Humira, with strong 2024 guidance.
• Sales of Skyrizi and Rinvoq are replacing lost Humira sales, with projected sales more than doubling through 2027.
• AbbVie's acquisitions of ImmunoGen and Cerevel Therapeutics are expected to further boost sales, though add $18.7 billion to debt.
• The stock is relatively cheap, trading at 14x '25 EPS targets.

Even before a couple of major acquisitions close and impact results, AbbVie Inc. ( ABBV ) is showing solid signs of growing beyond the Humira loss of exclusivity. The stock has already soared to yearly highs on the back of solid 2024 guidance. My investment thesis remains Bullish on the biopharma moving back towards growth mode this year....

For further details see: