ABBV - Which Growth Stock Is a Better Buy Right Now -- AbbVie or InMode?
The popularity of cosmetic procedures is unquestionably on the rise. Yet two major players in the space have seen their stocks struggle this year.
Major pharmaceutical AbbVie (NYSE: ABBV) is plagued by concerns about the impending patent cliff on its top-selling drug. At the same time, healthcare equipment provider InMode (NASDAQ: INMD) has been punished by Wall Street's current skepticism about growth stocks. This could be a good time to consider one of these highly profitable companies as a long-term addition to your portfolio.
AbbVie keeps a wary eye on the calendar, with immunology megablockbuster Humira facing fierce biosimilar competition starting next year. Before COVID-19 therapies came along, Humira was the industry's top drug by sales, generating $21 billion in 2021. Despite a thicket of patents extending protection out to early 2034, the company has inked at least eight settlements allowing biosimilars. Sales are likely to fall off quickly once cheaper options enter the market in January.
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Which Growth Stock Is a Better Buy Right Now -- AbbVie or InMode?