AGN - Why AbbVie Could Be a Great Buy in 2020
AbbVie (NYSE: ABBV) could be poised for a great year. The company will close its acquisition of drug manufacturer Allergan (NYSE: AGN) early this year, which will help pad AbbVie's results, add more products into its portfolio, and diversify its revenue stream by adding more brands.
There's one drug in particular that investors should be excited about, because of its potential to drive significant growth for the company: Ubrelvy.
In December, the U.S. Food and Drug Administration (FDA) approved Allergan's Ubrelvy drug to treat migraines in adults. Patients can take Ubrelvy orally, and unlike other migraine drugs in the market, they can take it after the migraine has begun, rather than beforehand.