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VRTX - AbbVie: Value Trap? Maybe But Here's Why It Can Revive
Vertex Pharmaceuticals Incorporated
Introduction
It's not the best portent when AbbVie (ABBV) beats and raises, yet still gets a muted response as happened last week. With the 10-Q not out yet, and "risa" - now Skyrizi - on the market, that led me to read through the 10-K and read the Q1 conference call which I had listened to in real time, and ask whether at $80.30, ABBV was just another Gilead (GILD) of a few years ago, with a declining P/E portending weak or negative forward returns.