AGN - Better Buy: AbbVie vs. Biogen
AbbVie (NYSE: ABBV) and Biogen (NASDAQ: BIIB) are two pharma stocks that haven't performed well lately. Over the last 12 months, AbbVie's shares are down by 2%, while Biogen's stock is down by 10%. By contrast, the pharmaceutical industry -- as measured by the SPDR S&P Pharmaceuticals Index -- is up by 14% over the same period.
However, 2020 could be very different for both companies, as AbbVie is hoping its acquisition of Allergan (NYSE: AGN) pays off, while Biogen is putting its hopes on its potential drug for Alzheimer's disease (AD), aducanumab. With that in mind, let's see which of these two companies is the better buy today.
Humira remains AbbVie's top-selling drug. However, Humira has been facing stiff competition from biosimilars in Europe, and the international sales of the drug have declined as a result. Beyond Humira, the company can count on such products as cancer drugs Venclexta and Imbruvica, as well as Skyrizi, a medicine for moderate-to-severe plaque psoriasis.